Introduced in March 2018, OKB serves as the native utility token for the OKX exchange. When you hold it, you also get access to top-notch crypto projects via the OKX Jumpstart launchpad initiative. Plus, we provide staking rewards on OKB tokens through OKX Earn. The total supply is 300 million.
The letters of OKB just represent the OKX brand (“OK” stands for the exchange, while the “B” probably refers to the blockchain context), but there’s no official explanation provided. So OKB stands for OK Blockchain.
Why Is OKB Pumping now?
It becomes the exclusive gas and native token for X Layer, with its Ethereum version being phased out. Users are urged to migrate their OKB to X Layer via the OKX exchange. In a historic move, OKX executes a massive one-time burn of over 65 million OKB from its treasury, permanently fixing the total supply at 21 million tokens.
Finally, the OK Blockchain smart contract was upgraded to remove all minting and burning functions, making this supply cap immutable and ensuring the token is fully decentralized and deflationary.
How about OKT
Starting August 15, 2025, OKX Exchange will automatically and regularly swap their OKT for OKB, using the average closing price of OKB and OKT in the OKX Exchange spot market from July 13, 2025, to August 12, 2025 (referred to as the “Average Closing Price”).
OKTChain is set to keep running until January 1, 2026. Before that date, on-chain OKT holders can keep depositing their OKT into OKX Exchange, which will automatically and regularly convert the deposited OKT into OKB based on the Average Closing Price.
Conclusion
OKB acts as a utility token, giving holders the ability to access our services and get involved in various projects and protocols. You can trade OKB just like any other cryptocurrency, but keep in mind that its value fluctuates based on market demand.