OKEx, a top 20 crypto exchange, announced on Wednesday the launch of the OKExChain mainnet. OKEx reported OKExChain will be rolled out in four stages, starting with the “Genesis” stage from December 31st to January 13th.
OKEx further revealed the second stage will focus on mainnet stability testing while in stage three, the transaction function will be enabled, and users can withdraw their OKT from OKEx to OKExChain. During the fourth and final phase, the smart contract virtual machine will be enabled, and OKExChain will be compatible with all projects on Ethereum with the main network officially fully launched. OKEx further observed:
“Since its initial testnet launch, OKExChain has seen significant upgrades, including committing to open-source, EVM smart contract development, iterations to reduce trading fees, and partnerships with projects including Waves, Achain, and DoraHacks. OKExChain has also expanded its ecosystem of decentralized apps through continued development and a highly successful hackathon.”
Speaking about the launch, OKEx CEO, Jay Hao, stated:
“2020 has been a year of incredible transformation and, while we have witnessed much suffering caused by the pandemic, we have also seen tremendous growth in the cryptocurrency space. For OKEx, it has been a year of reflection and learning, and we are thrilled to launch OKExChain to the mainnet, furthering the financial system of the future.”
Token minting of OKExChain’s native token, OKT, will begin at 4:00 pm UTC on December 31st and end at 16:00 UTC on January 13th with an initial issuance of 10 million.