In a jaw-dropping twist for cryptocurrency enthusiasts, OKB, the utility token associated with the OKX exchange, skyrocketed nearly 170% in just one hour following an exciting announcement about a robust tokenomics overhaul. This surge catapulted the token from approximately $47 to a staggering $126, marking a monumental moment in its trajectory as it reached a 24-hour gain of 172%. The driving force behind this remarkable leap? A significant burn of over 65 million tokens, which promises to fundamentally reshape the token’s supply mechanics.
So, why does this matter? Such a substantial token burn is not merely a technical adjustment; it’s a strategic maneuver in the world of cryptocurrencies. By permanently reducing the available supply to just 21 million OKB tokens, OKX is creating an environment where scarcity could amplify value—a classic economic principle. This bold move has sparked interest across the crypto community, igniting discussions about the future of OKB and its place in the larger ecosystem.
Alongside the token burn, OKX introduced a crucial upgrade to its public chain, X Layer, through what they’ve dubbed the “PP Upgrade.” This enhancement incorporates the latest technology from Polygon’s CDK, increasing transaction throughput to an impressive 5,000 transactions per second, while also slashing gas fees to nearly zero. This improvement not only enhances performance but also significantly boosts Ethereum compatibility, making it easier for developers to create decentralized applications.
These advancements are set to be woven into the fabric of OKX’s offerings, including OKX Wallet, OKX Exchange, and OKX Pay. Among the exciting features to expect are gasless withdrawals for popular cryptocurrencies like USDT, simplifying the user experience significantly. As part of the restructuring process, OKX has decided to phase out OKTChain due to overlapping functionalities. Trading on OKT will halt on August 13, 2025, with automatic conversions to OKB commencing on August 15.
“We are making a strategic upgrade to @XLayerOfficial, aiming to build a leading public chain focused on DeFi, payments, and RWAs. Key updates: 1️⃣ Underlying tech – PP upgrade 2️⃣ Ecosystem development strategy 3️⃣ Deep integration with OKX Wallet, OKX Exchange & OKX Pay” — OKX (@okx) August 13, 2025
The phased decommissioning of OKTChain means it will remain operational until January 1, 2026, allowing users ample time for final token deposits and conversions. As we dive deeper into these tokenomics changes, it’s noteworthy that OKB will now stand alone as the gas and native token for X Layer, while its Ethereum Layer 1 counterpart will gradually be dismantled. For users holding Ethereum L1 tokens, bridging them to X Layer through OKX will be essential before the withdrawal process is halted.
Looking ahead, OKX has ambitious plans for X Layer that go beyond mere technical upgrades. A dedicated fund is set to be established, complete with liquidity incentives and upgraded infrastructure. These plans include cross-chain bridges, oracles, and compliance tools—essentially building a robust network tailored for decentralized finance (DeFi), payments, and applications dealing with real-world assets.
As if these developments weren’t enough, earlier this July, OKX made headlines by partnering with PayPal, enabling users within the European Economic Area to purchase and deposit cryptocurrencies seamlessly through the popular payments platform. This partnership simplifies the process by allowing users to buy crypto directly with their PayPal balance, linked bank accounts, or cards—free of additional setup requirements. This move aligns with OKX’s commitment to remaining compliant with the evolving regulatory landscape, particularly following its recent Markets in Crypto-Assets (MiCA) registration.
Moreover, in a complementary partnership with Circle Internet Group, OKX is enhancing accessibility to the USDC stablecoin. This collaboration will facilitate 1:1 conversions between USD and USDC directly on the OKX platform, optimizing trading efficiency for its vocal user base of over 60 million worldwide. This seamless integration promises to improve liquidity and further solidifies OKX’s position as a key player in the cryptocurrency market.
In conclusion, the recent upheaval surrounding OKB’s tokenomics and the promising developments within the X Layer showcase a vibrant future for OKX and its users. As the crypto landscape continues to evolve, staying informed and engaged with these changes will be vital for investors and enthusiasts alike. With the momentum building, how will you position yourself in this dynamic market? Share your thoughts below!
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