OKX Burns 65M OKB and Upgrades X Layer to Boost Token Scarcity and Performance

OKX has executed a significant token burn and blockchain infrastructure upgrade as part of its broader strategy to enhance the utility and value of its native token, OKB. The company announced the permanent burning of 65,256,712.097 OKB tokens, a move that has significantly reduced the total supply and increased the token’s scarcity. The burn coincided with the launch of an upgraded X Layer, which leverages Polygon’s Chain Development Kit (CDK) to boost transaction speed to 5,000 transactions per second and reduce gas fees to nearly zero [1].

The X Layer upgrade, referred to internally as the “PP upgrade,” is designed to support Ethereum-compatible applications, decentralized finance (DeFi), and real-world asset integrations. This upgrade is expected to enhance OKX’s competitiveness in the blockchain infrastructure market and attract developers by offering a scalable and cost-effective platform [2]. OKX’s Global Chief Commercial Officer, Lennix Lai, emphasized that the move aligns with the company’s goal to build a leading public chain focused on DeFi, payments, and RWA applications [3].

In addition to the X Layer improvements, OKX revealed plans to phase out its OKTChain by January 1, 2026, and convert OKT tokens into OKB. This transition consolidates value within OKB, the platform’s sole governance and utility token, and streamlines the token ecosystem for users and developers [4]. The company has also capped OKB’s total supply at 21 million tokens, mirroring Bitcoin’s scarcity model and potentially reinforcing OKB’s value proposition in the long term [5].

The market responded favorably to the token burn and technical upgrades, with OKB’s price surging by 140–200% in the aftermath. The increased scarcity, combined with improved blockchain performance, has driven strong investor interest and higher trading volumes. Analysts note that these developments could enhance OKX’s position in the blockchain infrastructure space and expand OKB’s utility across multiple applications [6].

OKX’s strategic initiatives reflect a broader industry trend of deflationary tokenomics and infrastructure optimization. The company’s alignment with Ethereum migration trends and its integration of advanced smart contract capabilities position it to compete in the evolving crypto landscape. As OKX continues to refine its blockchain infrastructure and token supply, the market will closely monitor the long-term impact on the OKX ecosystem and broader cryptocurrency market.