OKXChain officially released OKT production reduction plan
It is reported that according to the tweet released by okxchinese, as an advanced public chain based on Cosmos and compatible with EVM/IBC, OKXChain plans to achieve sustainable growth through OKT production reduction. At present, the output of each OKC block is 0.5OKT. When the block height reaches 18123000 (March 18), it will be adjusted to 0.125. Then it will be halved every 9 months, and the total supply will be reduced to 21 million in 2028.
Interpretation of this information:
OKXChain, a public chain based on Cosmos and compatible with EVM/IBC, has announced its plans to achieve sustainable growth through a reduction in OKT production. OKT is the native token of the OKXChain platform, and the reduction in production is slated to start on March 18, when the block height reaches 18123000. Currently, the output of each OKC block is 0.5 OKT, but it will be adjusted to 0.125 OKT once the threshold is reached. From that point on, the total supply will be halved every nine months, leading to a total supply of 21 million by 2028.
This announcement is a significant one for OKXChain, as it highlights the team’s commitment to long-term sustainability and value preservation for its users. By reducing the overall supply of OKT, the platform is likely to experience increased demand, as scarcity tends to drive value up. Additionally, the predictable issuance schedule provides users and investors with a clear understanding of future token supply, which can aid in making informed investment decisions.
It’s also essential to note that OKXChain’s compatibility with EVM/IBC has significant implications for the platform’s potential use cases. EVM compatibility means that developers can easily port smart contracts to the platform, increasing the likelihood of widespread adoption by the blockchain community. Similarly, IBC compatibility allows for interoperability with other blockchains, enabling seamless asset transfers and cross-chain communication.
Overall, OKXChain’s announcement regarding OKT production reduction is a significant development for the platform and its users. By reducing supply and providing predictable token issuance, the platform is working towards a more sustainable future. The platform’s compatibility with EVM/IBC further increases its potential for widespread adoption and use cases.
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