15.08.2025 20:18

OKX executed a massive token burn, eliminating 93% of its OKB supply in a single transaction. This unprecedented move destroyed 278,999,999 OKB tokens, valued at approximately $26 billion at the time of the burn, drastically reducing the total supply from 300 million to a mere 21 million. This action permanently caps OKB, shifting it to a strictly deflationary model similar to Bitcoin's hard cap and eliminating its minting functionality.

The burn, confirmed by on-chain data on August 15th, involved transferring the tokens to an unrecoverable address. This dramatic deflationary measure distinguishes OKX from other exchanges, most of which employ incremental token burns. The move follows an earlier announcement outlining a comprehensive restructuring of OKB's tokenomics, aiming to enhance its value proposition.

OKX's radical strategy is a key component of a broader plan to fundamentally reimagine OKB's role within its ecosystem. The exchange unveiled a multi-faceted approach, directly linking OKB's future to the success of its X Layer blockchain network. A critical element of this strategy is the complete removal of OKB's minting capability. Following the activation of the updated smart contract on August 18th, no new OKB tokens will ever be generated.

This aggressive strategy also resulted in the phasing out of OKTChain, OKX's initial blockchain project. While OKTChain will remain operational until January 2026, its eventual sunsetting underscores the exchange's commitment to refocusing its efforts on X Layer and the newly restructured OKB. The remaining OKT tokens are slated for automatic conversion into OKB by August 15th. The resulting scarcity, combined with the increased focus on X Layer, represents a significant gamble by OKX, and the market awaits the long-term effects of this bold restructuring.