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OKX has announced a major upgrade to its X Layer network. This is transforming it into a public blockchain focused on decentralized finance (DeFi), payments, and real-world asset (RWA) scenarios. The shift aims to strengthen X Layer’s position in the competitive Layer-2 landscape while enhancing utility for its ecosystem participants.
As part of this overhaul, OKX will optimize the economic model of its $OKB Gas Token. $OKB will remain the sole gas and native token for X Layer. The company confirmed a one-time burn of 65,256,712.097 $OKB from historical buybacks and reserves.
Fixed $OKB Supply and Smart Contract Upgrade
After the burn, OKX will upgrade the $OKB smart contract to remove functions for additional issuance and manual burning. This change will permanently fix the total $OKB supply at 21 million tokens, aligning it with Bitcoin’s scarcity model.
According to OKX, the decision is designed to improve long-term token value stability and investor confidence. The move also signals a strategic shift towards creating predictable and transparent tokenomics, appealing to both institutional and retail participants.
Phasing Out OKTChain
In parallel with the X Layer upgrade, OKTChain will be retired. OKX will stop OKT trading at 14:10 (UTC+8) on August 13, 2025. To ensure a smooth transition, OKT will be periodically converted into $OKB. The conversion rate will be based on the average closing price from July 13 to August 12, 2025.
On-chain OKT conversions will be supported until January 1, 2026. This gives holders several months to migrate their assets. This consolidation aims to focus resources and user activity on the X Layer, avoiding fragmentation across multiple networks.
Market Reaction and Token Surge
Following the announcement, $OKB briefly surged to a historic high of $99.27 before retracing to around $84. Its market capitalization currently stands at $1.76 billion. In a later update, $OKB’s price climbed to $142, marking a 196.72% increase from previous levels. Analysts suggest the sharp rise reflects strong investor enthusiasm for the fixed supply model and expanded utility of $OKB in the upgraded X Layer ecosystem.
OKX’s dual move, retiring OKTChain and reinforcing $OKB’s economic model, appears designed to streamline its blockchain infrastructure while creating scarcity-driven value. The changes, coupled with the network’s shift toward DeFi, payments, and RWA, could position X Layer as a more attractive platform for developers and users in the coming years.