Overview

• OKX executed a one-time burn of approximately 65.256 million OKB, fixing total supply at 21 million and upgrading the token’s smart contract to remove minting and burning functions.
• OKB’s price jumped over 150% intraday and trading volume surged thousands of percent as investors reacted to the supply cut.
• OKT trading on OKX was halted on August 13 and automatic conversions to OKB will begin in mid-August based on average closing prices between July 13 and August 12.
• OKX deployed its “PP upgrade” to the Polygon-based X Layer zkEVM, boosting throughput to around 5,000 transactions per second and driving gas fees toward near zero.
• OKX has disabled OKB withdrawals to Ethereum Layer 1 and will phase out OKTChain by January 1, 2026 as it consolidates activity around X Layer.