OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, released the latest OKB Ecosystem Monthly Report — July 2020 on Aug. 6. OKB is the global utility token issued by the OK Blockchain Foundation and powers the OKEx trading platform. Throughout July, 11 new partners joined the OKB ecosystem, providing global OKB holders with even more services — ranging from DeFi, payments and security to cryptocurrency trading bots.

In addition to the increase in OKB’s utility outside of OKEx, OKB now can be used as collateral in C2C loans on OKEx. By pledging OKB, users can borrow USDT without incurring any service fees and take advantage of the minimum interest on borrowing, which is as little as 0.01% per day — currently the lowest in the industry.

Thanks to all these major developments, OKB recorded the highest monthly ROI of all major exchange tokens in July, according to the OKB Ecosystem Monthly Report. As per a recent CoinGecko report, OKB also outperformed the top five mainstream exchange tokens in H1 2020.

OKB and OKChain

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OKChain — the open-source blockchain protocol developed by OKEx — represents one of the most important application areas for OKB. The native OKT tokens in OKChain’s genesis block will be distributed to OKB holders in proportion to their OKB holdings, making them important stakeholders in the ecosystem. OKChain completed its first Hackathon on July 31, which succeeded in attracting dozens of top global developers, who demonstrated their creativity in building decentralized applications on top of OKChain.

Since the Hackathon’s launch on June 4, a total of 22 teams and individuals entered the competition, including Beijing ChainsGuard, Bitsong, DappBirds and other well-known organizations from varying fields. The contestants’ submissions included DEXs, digital asset wallets, APIs, virtual machines, blockchain browsers, blockchain insurance, staking software, developer tools, SDKs, cross-chain solutions and many other innovative applications.