OKB OKB to FOAM FOAM Exchange

Crypto Pair Details: OKB to FOAM

OKB OKB

OKEx, the 2nd most popular cryptocurrency exchange by trading volume, launched its platform token ‘OKB‘ today with 10 trading pairs. On its official support page, OKEx describes OKB is a global utility token issued by the OK Blockchain Foundation. The total available supply of OKB will be one billion tokens (1,000,000,000), with a distribution model that allocates 60% of the supply will be given out to OKEx customers for community building and during marketing campaigns. According to OKEx, the company had officially issued OKB on ERC20 protocol earlier this month. The company denied ICO (initial coin offering) and public fundraising. Reportedly the company had stated that it would be soon shifting the token to its official OK chain and subsequently it will be applied not only on OKEx’s platform but also on other related projects. There will be in total 1 billion tokens supplied globally out of which 600 million coins will be distributed to OKEx customers for community building and marketing campaigns. Rest will be locked up for a period of 1 year to 3 years. According to OKEx, the company had officially issued OKB on ERC20 protocol earlier this month. The company denied ICO (initial coin offering) and public fundraising. Reportedly the company had stated that it would be soon shifting the token to its official OK chain and subsequently it will be applied not only on OKEx’s platform but also on other related projects. There will be in total 1 billion tokens supplied globally out of which 600 million coins will be distributed to OKEx customers for community building and marketing campaigns. Rest will be locked up for a period of 1 year to 3 years.

FOAM FOAM

FOAM is an open protocol for proof of location on Ethereum. Our mission is to build a consensus driven map of the world, empowering a fully decentralized web3 economy with verifiable location data. FOAM incentivizes the infrastructure needed for privacy-preserving and fraud-proof location verification. The starting point for FOAM is static proof of location, where a community of Cartographers curate geographic Points of Interest on the FOAM map. Through global community-driven efforts, FOAM’s dynamic proof of location protocol will enable a permissionless and privacy-preserving network of radio beacons that is independent from external centralized sources and capable of providing secure location verification services. FOAM Token Functionality 1. Add and Curate Geographic Points of Interest The FOAM Spatial Index Visualizer allows Cartographers to participate in interactive TCR POIs on a map. Users can add points to the map, validate new candidates and verify the map by visiting real world locations. The FOAM Token Curated Registry unlocks mapping in a secure and permissionless fashion and allows locations to be ranked and maintained by token balances. Users can deposit FOAM Tokens into POIs on the map to increase attention those POIs might receive. 2. Signal for Zone Incentivisation A further potential use of the FOAM Token by Cartographers is to stake their FOAM Tokens to Signal. Signaling is a mechanism designed to allow Cartographers to incentivize the expansion and geographic coverage of the FOAM network. To Signal, a Cartographer stakes FOAM Tokens to a Signaling smart contract by reference to a particular area. These staked tokens serve as indicators of demand, and are proportionate to (i) the length of time staking (the earlier, the better), and (ii) the number of tokens staked (the less well-served areas, the better). In the context of the contingent Dynamic Proof of Location concept (described further in the Product Whitepaper), these indicators are the weighted references that determine the spatial mining rewards. 3. Contribute to Potential Secure Location Services as Zone Anchor or Verifier The FOAM protocol may allow users to provide work and secure localization services and location verification for smart contracts and be rewarded for their own efforts with new FOAM Tokens in the form of mining rewards. Devices and real world contracts can be programmed to designate attestations and track interactions and transactions on the map. With the addition of necessary radio hardware by individual users and the grass roots expansion of the FOAM network, it may be possible for location status to be proved in a different manner. Location could be proved through a time synchronization protocol that would ensure continuity of a distributed clock, whereby specialized hardware could synchronize nodes’ clocks over radio to provide location services in a given area. As explained further in the following paragraph, this ‘Dynamic Proof of Location’ is contingent on a number of factors outside of Foamspace’s control.

SOURCE: COINGECKO

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