OKB Price Jumps 20% After OKX Picks It as a Primary Token for Mining Animecoin (ANIME)

OKX’s native token, OKB (OKB), saw a significant surge in value on Friday, rising by 20% to reach $58.86. This development came after the crypto exchange announced that OKB would be used as a primary token for mining Animecoin (ANIME), a new web3 project backed by Arbitrum and the popular Azuki NFT collection.

According to a press release by OKX on Jan. 17, the exchange will start mining Animecoin on Jan. 20 through its Jumpstart program, where users can stake their OKB tokens or Bitcoin (BTC) to mine ANIME.

This mining event will continue until Jan 23, with OKB holders able to stake a maximum of 600 OKB and BTC holders up to 0.3 BTC (around $30,000).

A total of 10 billion Animecoin tokens will be minted, with a portion being allocated to OKX Jumpstart participants. OKX highlighted that staking is flexible, and users can unstake at any point during the event.

The ANIME token is set to be launched on both the Ethereum and Arbitrum networks in January, with over 50% of the tokens being allocated to the community and more than 20% going to the team, advisors and others. According to the developers, the upcoming token aims to engage the anime fandom, empower its creators and build “an open anime universe.”

As reported by crypto.news, the total token supply will be distributed as follows: 50.5% to the community, consisting of 37.5% for the Azuki community as “early supporters” of Animecoin and 13% for Community Cultivation, to be held by the future AnimeDAO to fund community incentives and initiatives. An additional 2% will be allocated to partner communities.