Do More With Your Okcash
OK delivers the power of Okcash with the flexibility of multiple DEFI tokens.
OK is the leading multi chain DEFI Token backed 1:1 with Okcash.
OK to OK [BNB] OK [BNB] to OK [ETH] [Polygon] [Avalanche] [Arbitrum] [Optimism] [Fantom]
Join The OK Ecosystem
Why Do We Need OK Token?
[OK] Okcash is known as OK Token or Wrapped Okcash in the different DEFI networks.OK Token brings greater liquidity to the OK network and different DEFI networks like Binance Smart Chain, Ethereum, Polygon and Avalanche ecosystems including decentralized exchanges (DEXs), gaming and financial applications, opening a whole new DEFI Universe and a new set of tools for the OK users, services, merchants, developers and traders.
The OK Token makes OK Multi Chain, as it standardizes Okcash to the different chain network formats [ERC20|BEP20] making the creation of smart contracts available for OK under any of the integrated networks. This makes it easier to write Dapps and smart contracts that integrate OK transfers.
Maintaining various nodes and managing transaction types in order to support multiple currencies can be onerous. Now exchanges, wallets, users and payment apps can decide and select which node they want to handle to support, manage and use their OK Token.
OK Token
OK is the leading DEFI token that makes Okcash fully compatible with multiple chains. [Binance Smart chain | Ethereum | Polygon | Avalanche | Arbitrum | Optimism | Fantom]
How it works
To receive OK Tokens, a user requests tokens from the custodian by starting a swap. The user gets an address to deposit Okcash and sends his DEFI network address to recieve the OK Tokens, then the user and the custodian execute their swap, with Okcash transfered from the user to the custodian, and OK Tokens being transfered from the custodian to the user.
Minting refers to the process of creating new OK Tokens. Minting in the DEFI frameworks is initiated and performed by the custodians.
Burning is the action of redeeming Okcash for OK Tokens. The amount to be ‘burnt’ is deducted from the custodian’s OK Tokens balance (on chain) and the supply of OK Tokens is then reduced.
