Total Addresses Exceed 100 Million, 25x Growth in One Year: What Did OKTC Do Right in 2022?

OKT +54.21%

In the public chain track of 2022, apart from the Ethereum merge and the launch of Move-based public chains, there were few highlights exciting enough for capital and users—a stark contrast to the flourishing scene of various public chains during the previous bull market. When the tide recedes, both the naked swimmers and the wave-breakers come into public view.

Toward year-end, the consistently low-profile OKTC public chain announced the upcoming launch of its OKT liquid staking protocol product, with annual returns exceeding 40%, attracting considerable attention. Meanwhile, OKTC also released some important data: total addresses surpassing 100 million and daily active addresses exceeding 2.45 million—both remarkable achievements.

Data Performance Surges Against the Trend, OKTC Public Chain Closes 2022 with a Bang

Affected by the overall bear market, crypto market liquidity shrank significantly, dealing a heavy blow to the public chain track. One data point illustrates the problem: DeFi Llama data shows that the total value locked (TVL) across all DeFi projects plummeted from $166.58 billion at the beginning of the year to $39.73 billion by year-end—a 76.1% decline.

DeFi projects all depend on public chains. A three-quarters reduction in total value locked inevitably leads to user and developer attrition, as well as an overall decline in on-chain activity. However, amidst the downturn, there are always those who rise against the trend—such as the OKTC public chain.

According to OKLink data, OKTC's contract creations reached 96.08 million by late December, nearly 100x growth from January—a direct indicator reflecting the number of new DApps the chain can support. During the same period, OKTC's on-chain addresses also exceeded 102 million, compared to 4.04 million in January—nearly 25x growth—with the total continuing to hit new highs. Additionally, OKTC's daily active addresses exceeded 2.45 million, nearly 110x growth from January.

As a result, OKT has risen over 50% in one month, currently trading around $25.

As the Market Returns to Rationality, OKTC Public Chain with Solid Fundamentals Gains User Favor

As is well known, the hard metrics for measuring public chain development quality include: total value locked, total addresses, active addresses, number of new DApps, and staking returns. Ethereum leads the industry across these dimensions, securing its top position.

Although OKTC shows significant vertical growth in these data dimensions, it launched later than the so-called "Ethereum killer" public chains and did not pursue aggressive expansion during the 2021 bull market. Thus, there remains some gap compared to established players, but recent data demonstrates its considerable potential.

Three factors can explain OKTC's growth momentum during the bear market.

First, affected by the bear market, some public chains lost momentum, and their users migrated to OKTC for a better experience.

The former relied on money-splashing models to aggressively acquire customers when funds were abundant, using heavy subsidies to attract developers and players. However, when the market turned bearish, their own financial situation became precarious, making the previous model unsustainable and naturally leading to user departure. Moreover, these public chains often prioritized marketing over R&D, leaving developers and users without continuously optimized experiences.

Compared to other public chains, OKTC boasts significant advantages in high TPS and low gas fees. Additionally, OKTC has integrated with Cosmos's IBC protocol, enabling cross-chain transfers in just 10 seconds with high security. As the public chain market returns to rationality, superior performance naturally wins users' votes.

It is evident that because OKTC has consistently prioritized technical iteration and experience upgrades, its voice and presence in the market have been relatively low.

Second, OKTC is backed by OKX , making it more trustworthy for users in special circumstances.

In 2022, major exchange, public chain, and institutional collapses occurred one after another, repeatedly undermining market confidence and user trust. In this environment, users naturally prefer secure and reliable platforms to store digital assets or complete on-chain operations. On December 17, crypto analytics firm CryptoQuant reported that OKX's reserve cleanliness was 100%, ranking first among all exchanges. Additionally, OKX regularly publishes PoR reports disclosing asset reserve status; the first two reports showed fully sufficient platform reserves. OKTC, backed by OKX, naturally becomes the preferred choice for users who prioritize asset security.

Third, the supporting infrastructure for various DApps has become increasingly comprehensive, and OKTC's network effects since inception have reached a critical tipping point.

Generally, developers prefer to build projects on public chains with comprehensive infrastructure, as this allows them to focus more on technical R&D and community operations—much like how new factories prefer locating in large industrial parks with complete upstream and downstream supply chains.

To this end, OKTC has launched a series of applications valuable for ecosystem development, greatly benefiting the optimization of underlying public chain infrastructure and helping reduce developer costs. For example, OKTC has strategically deployed Web3 service infrastructure Galxe (Project Galaxy), providing strong support for NFT and blockchain gaming applications within the OKTC ecosystem in terms of user growth and brand exposure, directly boosting community activity.

Lowered development and operational barriers mean rapid accumulation of network effects, whose potential reached a critical tipping point by the end of 2022. The landmark milestone was XEN's explosive growth on OKTC. Data shows that among the 10 public chains where the project launched, OKTC had the lowest gas fee consumption and the highest number of minted assets. XEN was actually the last to launch on OKTC, yet the data surpassed other public chains.

Looking back at 2022, 194 new projects launched on OKTC, including 19 headliner projects such as Pocket Network, Ledger Wallet, and imToken. Ledger is the world's largest hardware crypto assets wallet, and its launch on OKTC is particularly significant given the rampant hacker attacks.

OKT Liquid Staking Protocol Product Launch Benefits Users with Annual Returns Exceeding 40%

Historical experience shows that a public chain's journey from 0 to 1 to 100 inevitably benefits early-entry developers and investors. OKTC's steady growth momentum is already irreversible, but to provide tangible value feedback to users, OKTC officially launched its OKT liquid staking product on December 20, with annual returns exceeding 40%. In early 2023, the OKT liquid staking product will further enhance its offering with even more favorable reward activities—stay tuned.

Notably, unlike previous asset staking products or activities, users who stake OKT assets in this product do not lose asset liquidity. Instead, they receive a corresponding amount of staking voucher tokens, stOKT. Users holding stOKT can enjoy staking rewards and continue using their stOKT tokens to participate in DeFi activities on OKTC, earning multiple returns.

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