OKX Burns $26B in OKB, Capping Supply at 21 Million
OKX Burns Record Amount of OKB Tokens
OKX has permanently removed 278,999,999 OKB tokens from circulation in a monumental on-chain transaction. Valued at over $26 billion at current prices, the burn significantly reduces OKB's supply.
The transaction, executed on Friday, marks one of the largest token burns in crypto history. The total supply of OKB is now capped at 21 million tokens.
Supply Cap and Tokenomics Upgrade
The burn included over 65 million OKB tokens from buybacks and treasury reserves, shrinking the total supply from 300 million. To ensure scarcity, OKX will upgrade the token's smart contract.
- No More Minting: The upgrade will permanently disable minting new tokens.
- Locked Supply: Manual burns will be disabled, solidifying the supply cap in the code itself.
This approach aligns OKB with Bitcoin's model of a fixed, finite supply.
OKB Price Surge and Market Reaction
The announcement triggered a rapid surge in OKB's price, jumping from $46 to an all-time high of $142.88 within an hour. Currently, OKB trades around $92.78.
Crypto analyst Tokenomist noted on X (formerly Twitter):
“From 2019 to today, $OKB kept burning. But with 65M tokens gone (~75.6% supply), the latest @okx move sent the price +193%.”
Strategic Shift: Phasing Out OKTChain
This tokenomics change coincides with a strategic shift in OKX's blockchain infrastructure. The exchange will discontinue support for OKTChain, its Cosmos SDK-based chain, by January 1, 2026.
Instead, OKX will focus on X Layer, a zkEVM Layer 2 built using Polygon Labs technology.
- OKT Conversion: OKT holders can convert their tokens to OKB at a rate of roughly 9.5 OKT per 1 OKB, based on average closing prices from July 13 to August 12, 2025.
- X Layer Focus: X Layer will become the primary public chain for OKX's on-chain operations, supporting DeFi, payments, and real-world asset tokenization.
- Performance: X Layer aims to deliver 5,000 transactions per second with near-zero gas fees, maintaining full Ethereum compatibility.
The Future of OKB and OKX
By merging OKT into OKB and prioritizing X Layer, OKX aims to strengthen OKB's role as the primary gas token while increasing its scarcity and utility. The goal is that the high throughput and low costs of X Layer will boost OKX Pay's competitiveness and drive on-chain volume, ultimately benefiting OKB.
These moves come amid OKX's regulatory progress, including potential U.S. market re-entry, EU MiCA compliance, and possible IPO plans. The token burn and strategic consolidation reflect OKX's vision for OKB as a key asset in the evolving "CEX + chain" landscape.
For projects considering token launches or navigating complex tokenomics, platforms like Codeum offer comprehensive services, including security audits and smart contract development consulting.