OKB okb
What is OKB?
OKB is the utility token associated with OKX, a centralized cryptocurrency exchange, and is also the native gas token of OKX's X Layer network. On the exchange, OKB is used to access platform benefits such as fee-tier advantages and token-launch participation; on X Layer, it pays network gas. OKB should not be confused with OKT, the former OKT Chain token.
What problem does OKB solve?
OKB addresses the exchange-loyalty and ecosystem-coordination problem: users need a common token through which an exchange can offer fee-related benefits, launch access and other platform incentives, while a public network needs a native asset for transaction fees. Its value proposition is tightly linked to OKX's products and adoption rather than to a claim of decentralized monetary utility. The trade-off is dependence on OKX governance, exchange policies, regulatory access and the performance/security of X Layer.
How does OKB work?
OKB balances can be held on OKX or in compatible wallets. Within OKX, the token functions as an ecosystem/utility asset for benefits whose exact eligibility and rates are set by current OKX rules. X Layer uses OKB as its sole native gas token: transactions on the network pay fees in OKB. OKX's Aug. 13, 2025 announcement said Ethereum-L1 OKB would be phased out in favor of X Layer, with the smart contract upgrade removing minting and burning functions after the supply reset. Historical OKB repurchases were sent to an inaccessible black-hole address; OKX later made the supply change permanent with a one-time burn and automatic black-hole burns.
Key facts
- Ticker: OKB; issuer/ecosystem: OKX
- Primary role: OKX exchange utility token and X Layer native gas token
- X Layer: OKX's public network (launched with Polygon technology; the 2025 PP upgrade announcement describes X Layer as Polygon CDK-based)
- Buyback/burn program: OKX announced a recurring three-month burn program in May 2019; bought-back tokens were sent to an inaccessible black-hole address
- OKX's 28th published burn report (June 19, 2025) records 42,437,632 OKB burned and 213,743,264.15 OKB burned cumulatively as of June 23, 2025
- Supply reset: OKX announced a one-time burn of 65,256,712.097 historically repurchased/treasury OKB in August 2025; after the operation, total supply was fixed at 21,000,000 OKB
- Contract change: the Aug. 2025 upgrade removed minting and burning functionality; subsequent OKB sent to a black-hole address is automatically burned
- OKB is not a stablecoin and holding it does not guarantee fee savings, launch allocations, price appreciation or access in every jurisdiction
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Frequently asked questions
What is OKB used for?
OKB is used as an OKX ecosystem utility token and as the native gas token on X Layer. OKX may tie platform benefits such as fee-tier advantages, token-launch participation and other programs to OKB holdings, subject to the rules and eligibility in force.
What is the OKB buyback and burn program?
OKX announced in May 2019 that it would buy back OKB and burn it every three months, sending the tokens to a black-hole address that nobody can access. OKX published periodic burn reports with the amount and transaction address.
How much OKB has been burned?
OKX's report for the 28th event says 42,437,632 OKB was burned on June 19, 2025 and that 213,743,264.15 OKB had been burned in total as of June 23, 2025. OKX subsequently announced a separate one-time burn of 65,256,712.097 OKB in August 2025.
What is OKB's maximum supply?
Following the August 2025 OKX tokenomics upgrade and one-time burn, OKX said total OKB supply would be fixed at 21 million. The same announcement said the upgraded contract removed minting and burning functions.
Is OKB the gas token for X Layer?
Yes. OKX's August 2025 X Layer announcement states that OKB will continue to be the only gas and native token for X Layer.
Is OKB the same as OKT?
No. OKB is OKX's utility/native X Layer token. OKT was the token of OKTChain; OKX announced OKTChain decommissioning and an automatic OKT-to-OKB conversion process in August 2025.
Does holding OKB guarantee a discount or profit?
No. OKB utility benefits, fee schedules, launch access and eligibility can depend on current OKX rules, account status, jurisdiction and program availability.
Where can I buy OKB?
OKB may be available through OKX and other exchanges that list it, subject to local availability and compliance rules. Check the current listing, network, withdrawal and custody details carefully.
External trackers
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