OKB
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| OKB | ERC20 | ETH | 0x75231f58b43240c9718dd58b4967c5114342a86c | 2019-04-26 |
| OKB | KIP20 | OKT | 0xdf54b6c6195ea4d948d03bfd818d365cf175cfc2 | 2021-04-26 |
About OKB
- Trading fee discounts, staking rewards, and governance rights on OKX
- Gas payments on X Layer, OKX’s zkEVM-powered L2 network that supports up to ~5,000 TPS with near-zero fees
The PP Upgrade of X Layer (August 5, 2025) makes OKX’s network faster, cheaper, and more Ethereum-compatible. Transaction capacity jumps to 5,000 TPS, gas costs are nearly eliminated, and security is strengthened. OKX is focusing on DeFi, payments, and real-world assets, while integrating X Layer across its products: the Wallet supports it natively, the Exchange offers gas-free withdrawals, and OKX Pay will use it as the default settlement layer.
At the same time, OKTChain is being phased out. Trading in OKT ended August 13, and starting August 15, all OKT is being automatically converted into OKB at a 30-day average price. The old chain will technically run until January 1, 2026, but OKB is taking over as the unified standard going forward.
OKB itself is shifting to a scarce, capped model. A large one-time burn of over 65 million tokens is paired with a smart contract upgrade that permanently fixes the total supply at 21 million. Withdrawals of OKB to Ethereum L1 are being discontinued, with all usage moving to X Layer.
What else happened
- OKT orders were auto-canceled on August 13.
- Auto-conversion of OKT to OKB began on August 15, with deposits accepted until January 2026.
- The OKB burn occurred August 15, followed by the smart contract upgrade on August 18.
- From August 13, OKB withdrawals to Ethereum L1 were disabled.