KX has permanently destroyed 65,256,712 OKB tokens from its reserves on 13 Aug 2025. This move locks the total supply of OKB at 21 million, with no more tokens to be created or burned in the future.
The burn removed nearly 75% of OKB’s circulating supply, causing the price to jump 200%, reaching $140. The burned tokens were sent to a black hole address, making them unusable forever.
This change comes ahead of a smart-contract upgrade on 18 Aug, which will fully lock OKB’s supply and remove mint/burn functions.
OKB will now be the only gas and native token for X Layer, OKX’s Ethereum-compatible layer-2 network. X Layer recently added Polygon CDK tech and will replace OKX’s older OKTChain.
Trading for OKT was stopped on 13 Aug, and all OKT will be automatically converted to OKB on 15 Aug.
OKX says this new setup is inspired by Bitcoin’s fixed supply model and aims to make X Layer a hub for DeFi, payments, and real-world assets.