What is OKB?
OKB is the native platform token launched by OKX (formerly OKEx), a leading global cryptocurrency exchange, and issued by the OK Blockchain Foundation. It is not only the core utility token of the OKX ecosystem but also the sole Gas token and core asset of X Layer (formerly OKExChain), OKX's high-performance Layer-1 blockchain.
OKB was initially issued as a token based on the EthereumERC-20 protocol. Subsequently, to better serve OKX's on-chain ecosystem, it migrated to the X Layer network. With the upgrade of its economic model, OKX encourages users to migrate their L1 version of OKB to X Layer to fully utilize its various functions within the OKX Web3 ecosystem.
Evolution and Economic Model of OKB
The issuance of OKB began in March 2018. To maintain token value and promote ecosystem development, the OKX platform implemented a strict deflationary economic model. The core mechanism of this model is "buyback and burn," where OKX regularly uses a portion of its transaction fee revenue to buy back OKB from the secondary market and permanently burn it. This strategy aims to reduce the total supply of OKB, which may positively impact its market value.
For example, in August 2025, OKX announced a large-scale burn of 65 million OKB tokens, adjusting the total supply to 21 million. As of the time of writing, the circulating supply, total supply, and maximum supply of OKB are all 21 million.
Core Functions and Application Scenarios of OKB
OKB has a wide range of application scenarios within the OKX ecosystem, providing holders with multiple privileges and utility functions:
- Transaction Fee Discounts: OKB holders can enjoy different levels of discounts, up to 40%, when using OKB to pay transaction fees on the OKX platform. The specific discount depends on the user's OKB holdings and trading volume.
- X Layer Network Gas Token: As the sole Gas token for the X Layer network, OKB is used to pay network fees required for transactions and smart contract execution on this chain.
- Participation in Launchpad/Jumpstart: OKB holders can participate in OKX's new token issuance platforms like Jumpstart, with opportunities to obtain early subscription allocations for newly listed projects.
- Ecosystem Governance and Staking Incentives: On X Layer, OKB performs functions such as ecosystem governance and staking incentives. Users can deposit OKB into the OKX Earn center to participate in staking mining or fixed-term earning activities to earn returns.
- VIP Level Acceleration: Holding OKB helps user accounts reach higher VIP levels faster, thereby enjoying lower transaction fees, higher withdrawal limits, and other exclusive services.
- Web3 Ecosystem Pass: In OKX's Web3 ecosystem, OKB serves as the asset reserve for various DeFi strategies within the OKX Wallet, connecting various applications in the decentralized world.
- Other Privileges: Including global partners, top merchant privileges, super portfolio, project listing voting privileges, global digital assets ecosystem open plan, ecosystem planet plan, etc.
Market Performance and Circulation Overview
As of August 6, 2026, the price of OKB is approximately $86.97, with a real-time market capitalization of approximately $1.826 billion. The circulating supply, total supply, and maximum supply of OKB are all 21 million. OKB reached its all-time high price of $258.6 on August 21, 2025.
Trading and Storage of OKB
As the core token of the OKX ecosystem, OKB can be traded on multiple mainstream cryptocurrency exchanges. As of the time of writing, users can trade OKB on platforms such as OKX, Hotcoin, GroveX, LBank, XT.COM, BitKan, Coinstore, Pionex, Tapbit, Bitunix, Gate, MEXC, BYDFi, BingX, and Bitrue.
For storage, since OKB has migrated to X Layer, users can use OKX Wallet or any Web3 wallet compatible with the X Layer network for storage and management.
