What is OKB? An Overview of the OKX Platform Token
OKB is the native utility token of OKX (formerly OKEx), a globally renowned cryptocurrency exchange. It was issued by the OK Blockchain Foundation in collaboration with OKX, aiming to empower the OKX ecosystem and serve as the native gas token for its core infrastructure, X Layer (OKX's Ethereum-compatible Layer-2 blockchain).
Development History and On-Chain Migration
OKB was first launched on March 22, 2018, initially issued as an ERC-20 standard token on the Ethereum blockchain. As the OKX ecosystem evolved, in June 2019, OKEx announced the integration of OKB into its self-developed blockchain network, OKExChain, which was later rebranded as X Layer. In January 2022, OKEx rebranded to OKX, further solidifying OKB's core position within the new brand architecture.
Currently, the Ethereum L1-based version of OKB is being phased out. Users need to deposit their L1 OKB to the OKX exchange and migrate to X Layer using the "One-Click Chain Swap" feature. OKX will no longer support OKB withdrawals to Ethereum L1 in the future, ensuring all OKB assets are concentrated within the X Layer ecosystem.
Core Functions and Application Scenarios
OKB plays multiple critical roles within the OKX ecosystem, offering rich utility functions to its holders:
- Trading Fee Discounts: Users holding OKB can enjoy up to a 40% discount on trading fees on the OKX exchange, with the discount percentage determined by their holding amount and trading volume tier.
- OKX Jumpstart: OKB holders can participate in OKX Jumpstart new token offerings, gaining priority access to subscribe to new projects.
- Staking for Yield: Users can stake OKB to earn passive income, participating in the OKX ecosystem's revenue distribution.
- Governance Voting: OKB holders have voting rights to participate in platform decision-making processes, influencing the development direction of the OKX ecosystem.
- X Layer Native Gas Token: OKB is the sole gas token for X Layer, OKX's Ethereum-compatible Layer-2 blockchain. All transactions conducted on X Layer, including DApp interactions, require OKB to pay on-chain transaction fees.
- Ecosystem Applications: OKB supports the development and interaction of decentralized applications (DApps) on X Layer, making it an indispensable core asset for building and running the X Layer ecosystem.
Tokenomics Model and Supply
OKB initially had a planned total supply of 1 billion tokens. However, to enhance the token's scarcity and value, OKX executed a one-time large-scale burn in August 2025, permanently destroying over 65 million tokens from its reserves. This action fixed OKB's maximum supply at 21 million, making it a deflationary token that cannot be generated through mining. Furthermore, OKB's smart contract has been upgraded to remove future minting and burning functionalities, ensuring the immutability of its supply.
Market Performance and Trading Channels
As of September 23, 2026, the price of OKB fluctuates between approximately $122.26 and $125.19, with a market capitalization ranging from about $2.56 billion to $2.63 billion. The 24-hour trading volume is approximately $31.19 million to $48.20 million. Both the circulating supply and maximum supply of OKB are 21,000,000 tokens. Historically, OKB reached an all-time high of $258.6 on August 21, 2025. Users can view real-time prices and market dynamics of OKB on market platforms like Svmuu.
OKB is available for trading on multiple major cryptocurrency exchanges. Currently, platforms supporting OKB trading include: OKX, Gate, GroveX, LBank, XT.COM, Tapbit, Pionex, Websea, BitKan, Hotcoin, Bitunix, Coinstore, BingX, CoinW, and Bitrue.
The platform information for sale in this article changes with the listing and delisting dynamics of each exchange. Please refer to the official announcements of the exchanges.
