According to reports, OKX announced a strategic upgrade for X Layer, transforming it into a public chain focused on DeFi, payments, and RWA scenarios. This upgrade is also accompanied by an optimization of the OKB Gas Token economic model, with OKB continuing to serve as the sole Gas and native token for X Layer. OKX will permanently destroy 65,256,712.097 OKB from historical buybacks and reserves, and after this, upgrade the OKB smart contract to remove the functions of inflation and manual destruction, fixing the total issuance at 21 million. Meanwhile, OKTChain will be phased out, and trading on OKX will stop at 14:10 (UTC+8) on August 13, 2025. OKT will be periodically exchanged for an equivalent amount of OKB at the average closing price from July 13 to August 12, 2025, with on-chain OKT exchanges supported until January 1, 2026. As a result of this news, OKB briefly rose to a historical high of $99.27 and has currently retreated to around $84, with a market capitalization of $1.76 billion
