OEC, formerly known as OKExChain, is a public permissionless blockchain that no one fully controls. Anyone can create projects and use applications from anywhere in the world. OKEx can neither control nor endorse any projects on OEC.
The decentralized nature of blockchain may lead to risks. Make sure you're responsible for your financial decisions and do proper research on projects.
Tips on mitigating risks of OEC projects:
1. Research and understand a project before interacting with OEC in any way.
2. Remember that all developers and users can access both main and test networks for free.
3. Distinguish between OEC main and test networks. All assets on the testnet are valueless.
4. Protect your private keys and never share them. Make sure third-party projects are safe before authorizing them.
Start using OEC in 3 steps
Connect your wallet
We support MetaX, MetaMask, imToken, TokenPocket and other wallets
Transfer assets to your private wallet to start interacting with DApps and projects
Be sure to research OEC projects as we don’t control any of them
OKT is the native token of the OEC ecosystem, providing immediate utility and benefits — such as voting rights, staking privileges and transaction fee payments — for decentralized exchanges and other DeFi applications built on the network. The OKT genesis block contains an initial minting of 10 million OKT, which will be distributed to OKB holders who stake their OKB on OKEx Jumpstart. OKT has the same halving model as Bitcoin, where its block reward is cut in half roughly every three years. The block reward is 0.5 OKT and the theoretical upper limit of OKT's total supply is about 41.69 million.
1. Use of system resources:
An application running on the OEC network requires the chain to allocate certain resources. OEC charges a transaction fee for resource usage.
OKT holders obtain voting rights by staking their tokens. One address can vote for up to 30 different validator candidates, and the number of votes for each validator candidate that the address has supported depends on the amount of OKT the address has staked.
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