With the introduction of digital tokens, life has become a bit easier. These kinds of tokens provide flexibility, and many industries are putting them to use for fulfilling their needs and long-term goals. Some of the popular exchange tokens are- BNB, HT, FTT, and OKB.
These tokens are used by the exchanges for spurring activity on the retain, exchange users, and bring on new users. Let us dig deep into the article to understand more about these major exchange tokens.
BNB:
One of the popular crypto exchanges is Binance. It offers a platform to trade several cryptos. At present, it is the world’s largest exchange when it comes to regular trading volume. The Binance ecosystem is powered by BNB, a cryptocurrency coin.
BNB can be utilized for paying for services and goods, settling transaction fees on Binance Smart Chain, getting involved in tokenization of sales, and a lot more.
The BNB tokens can also be utilized by the token holders of BNB for paying charges on the exchange. Besides, Binance provides a discount for up to 5-years of exchange membership.
Advantages:
The popular advantages of opting for BNB tokenization services are given below:
- On the spot trading fees, 25% can be saved.
- On the margin trading fees, 25% can be saved.
- On the future trading fees, 10% can be saved.
- Other rewards are also available, like more commissions on referrals.
- On the Binance Launchpad, the exclusive sales of the token can be accessed.
- Through the referral programs, 40% commission can be earned.
FTX:
One of the popular derivatives exchanges is FTX. They also have got several other business lines like an emergent NFT market. One can easily opt for tokenization blockchain services to understand the full benefit of FTX.
The FTX ecosystem’s backbone is kept intact by FTT (FTX Token). Fee rebates are provided by it to the holders. Incentive schemes are designed by the team for enhancing network demand and effects for FTT and decreasing the circulating supply.
Advantages:
The advantages of FTX are stated below:
- The largest benefit is the rebates.
- FTT is staked by the referrers, and they are given a larger fraction of the referees’ fees.
- The marker fee rebates are received by the stakers.
- The non-fungible wheel can be spun by the stakers to get a chance to win a free NFT.
- Bonus votes are also there for the stakers.
- The stakers receive more SRM airdrops.
- Every day, a certain number of free ETH and ERC20 withdrawals are received by the stakers.
- For all the IEOs hosted on the FTX, stakers receive tickets
Huobi:
Huobi is a Hong Kong crypto exchange that allows users to trade a wide range of cryptos. It is a blockchain-based research and consulting platform that is operated by Huobi China.
The native crypto token of Huobi is HT. It offers discounts on the trading fees. It also facilitates the users to use new cryptocurrencies. It enables the users to vote. Additionally, the holders of the token can avail benefit from holding the HT token as a value store.
Advantages:
The major advantages of Huobi are described below:
- As the Huobi token is operated on the Ethereum network, it facilitates the exchange on any of the ERC-20 networks.
- The users who have VIP statuses get discounts while trading their tokens.
- It supports the users who experience financial losses or who are victims of manipulative schemes. The tokens are apportioned by Huobi to the protection fund of the investors.
- The holders enjoy exclusive voting rights on the platform. It empowers the holders and influences listing and exchange decisions.
- It also offers the opportunity for voting for the asset to get listed on the exchange.
OKEX:
OKEx is a platform that facilitates cryptocurrency exchange to trade cryptocurrencies. It also offers the core features like derivative and spot trading. For a wide range of features, the OKB is utilized inside the ecosystem of OKEx.
OEC (OKExChain) is also hosted by OKEx. It is a trading chain formulated on blockchain technology. It is designed for trading, owning, and controlling any of the on-chain assets.
For accessing the special features inside the exchange, OKB token development can be opted for. For example, for calculating and paying trading fees, for rewarding users, and for providing access to governance and voting on the platform. Additionally, it plays a vital role in the development and architecture of OKEX.
Advantages:
The advantages of OKEX are given below:
- On the trading fees, 40% can be saved.
- OKEx Earn can be accessed.
- To develop newer blockchain & cryptocurrency tokenization projects on the platform, Jumpstart token sales can be easily accessed.
- It also serves as a currency for the OEC ecosystem.
Conclusion:
Several different tradeoffs are there between the several tokenomic designs of the mentioned exchange tokens. For instance, all of the tokens allow the traders to get a discount on the trading fees, but only FTT and BNB are used for boosting referral fees. So, everything depends on the needs of the users. Thus, if you want to incorporate tokenization in your business, avail yourself of top-notch cryptocurrency services.
