Do More With Your Okcash
OK delivers the power of Okcash with the flexibility of multiple DEFI tokens.
OK Token is the leading multi chain DEFI Token backed 1:1 with Okcash.OK to OK [BEP20] OK [BEP20] to OK [ETH] [Poly] [Avax]
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.
The leading DEFI token that makes Okcash fully compatible with multiple chains. [Binance Smart chain | Ethereum | Polygon | Avalanche]
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.
Developed for Traders, Institutions, and Dapps
With OK Token, users experience increased liquidity and participation. The different DEFI networks hold different benefits as the availability and the ability to process transactions fast and at a low cost among many others. With OK Token, moving Okcash between exchanges and networks is easier and faster, hence more practical, efficient and fun.
Handling multiple cryptocurrencies across different nodes and transaction formats is no longer a concern for decentralized application users like exchanges, wallets, and payment services. OK Token combines the benefits of the OK network and the different DEFI networks, making it simple to handle the OK Tokens with any of the different networks nodes.
Decentralized applications can now leverage OK payments in smart contracts for lending protocols, funds, prediction markets, gaming, web3, token sales and more, way more.