Codezeros

Dec 1, 2021

4 min read

Tokenomics Report: The Major Exchange Tokens

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.

Tokenomics Report: The Major Exchange Tokens
Tokenization — Blockchain & Cryptocurrency Tokenization

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.

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.

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.

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.

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.