OKX Confirms Major OKB Token Burn and Blockchain Upgrade
- OKX to burn 65 million OKB tokens, enhancing blockchain.
- OKB emerges as sole gas token for X Layer blockchain.
- Market responds strongly; OKB price surges significantly.
OKX will execute a major OKB token burn on August 15, 2025, followed by a smart contract upgrade on August 18, establishing OKB as the sole gas token for X Layer.
The burn and upgrade could impact OKB’s supply and market value, potentially influencing trader interest and future tokenomics in the evolving cryptocurrency ecosystem.
OKX confirms a pivotal event with plans to burn over 65 million OKB tokens on August 15, 2025, followed by a strategic smart contract upgrade on August 18, establishing OKB as the sole gas token for its enhanced X Layer blockchain.
“August 15, 2025, 2:00 PM (UTC+8): One-time cleaning of historically repurchased OKBs and on-chain burn of OKB. August 18, 2025, 2:00 PM (UTC+8): OKB smart contract upgrade completed, removing minting and burning functionalities.” – OKX Official Website
The initiative, announced by the OKX Executive Team, will involve their product and blockchain engineering teams, who are poised to implement these measures. The specifics were disseminated through official company announcements and communication channels.
The planned burn will result in a dramatic reduction in OKB supply, decreasing from 300 million to a hard cap of 21 million. The market reaction has been notably positive, with the OKB price experiencing a substantial increase. This supply reduction mirrors Bitcoin BTC -1.06% ’s deflationary model, aiming to increase scarcity and demand. The burn is self-funded through previous buybacks, signaling no external funding or venture capital involvement in the process.
As OKB transitions to the status of sole gas token, OKT tokens will be retired and swapped for OKB, highlighting the priority shift within the ecosystem. With the price of OKB rising by 180% in response, market enthusiasm is palpable. This event marks a significant milestone in tokenomics and opens potential pathways for enhanced adoption and usage within OKX’s DeFi ecosystem.
