OKB’s price rose by 20% after OKX chose it as a primary token for mining Animecoin, a new project aimed at transforming the anime industry into a community-owned network.

The price of OKX‘s native token OKB (OKB) soared by 20% to $58.86 on Friday, Jan. 17, after the crypto exchange picked it as a primary token for mining Animecoin (ANIME), a web3 initiative backed by Arbitrum and the popular Azuki NFT collection.

Starting Jan. 20, OKX will begin mining Animecoin through its Jumpstart program, where users can stake their OKB tokens or Bitcoin (BTC) to mine ANIME, OKX said in a press release on Jan. 17. The mining will run until Jan 23, with OKB holders able to stake up to 600 OKB and BTC holders up to 0.3 BTC (around $30,000).

The total supply of Animecoin is 10 billion tokens, and a portion will go to OKX Jumpstart participants. OKX says staking is flexible, adding that can unstake anytime during the event.

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

As Coin Insider Daily reported earlier, as much as 50.5% of the total token supply will be allocated to the community, consisting of 37.5% for the Azuki community as “early supporters” of Animecoin and 13% will be allocated for Community Cultivation, held by future AnimeDAO to fund community incentives and initiatives. Meanwhile, a separate 2% will go to partner communities.