When will the production of okt coins be reduced?

OKT will reduce production by 15% on December 30, 2023, as part of its fourth annual production reduction plan implemented since 2019 to control inflation and increase scarcity by reducing the amount of newly minted OKT.

When will OKT reduce production?

Answer: OKT will reduce production on December 30, 2023.

Detailed explanation:

OKT is a governance and utility token used in the OKX ecosystem. It has a total supply of 1 billion coins and has been in circulation since its launch in 2019. In order to control inflation and increase the scarcity of this asset, the OKX team has implemented a series of production reduction plans:

• December 30, 2020: Reduction of production by 50%, from 3,600 OKT per hour to 1,800 per hour .
• December 30, 2021: Reduced production by 25%, from 1,800 OKT per hour to 1,350 OKT per hour.
• December 30, 2022: Reduced production by 20%, from 1,350 OKT per hour to 1,080 OKT per hour.
• December 30, 2023: Reduced production by 15%, from 1,080 OKT per hour to 918 OKT per hour.

Every year’s production cuts reduce the amount of newly minted OKT, thereby reducing the circulating supply of the token. This helps increase the value of OKT, making it a more attractive asset for investors.

It should be noted that the specific date of production reduction may change based on the decision of the OKX team.

At 16:00 on July 5, 2024, OKT Chain (OKT) reported $9.4286621879329, with a 24-hour trading volume of $997996.33438727. In the past 24 hours, OKT Chain price fell by 12.46190267%. Technical analysis shows that OKT Chain is currently in a downward trend and may continue to fall in the short term. The currency has a circulating supply of 0, a maximum supply of 21,000,000, and a total supply of 0. Based on these metrics, OKT Chain has a circulating market capitalization of $0, indicating that demand and value for the currency are currently low.

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