OKX announced on Wednesday it will conduct a one-time burn of more than 65 million OKB tokens, fixing the total supply at 21 million. The exchange will also roll out a major upgrade to X Layer, its zkEVM-based public blockchain built with Polygon technology.
The “PP upgrade” integrates the latest Polygon CDK technology, raising throughput to 5,000 transactions per second, cutting gas fees to near zero, and improving Ethereum compatibility for developers. OKX will integrate X Layer with OKX Wallet, OKX Exchange, and OKX Pay, adding features such as gasless withdrawals.
As part of the overhaul, OKX will retire OKTChain due to overlapping functions. OKT trading will end on August 13, 2025, with automatic conversion to OKB on August 15 based on a set average price. The chain will remain active until January 1, 2026, allowing users to deposit remaining tokens for conversion.
OKX will also revamp OKB tokenomics, keeping it as X Layer’s exclusive gas and native token while phasing out its Ethereum L1 version. Users must bridge tokens to X Layer via OKX, after which L1 withdrawals will be disabled.
The upgrade includes plans for an ecosystem fund, liquidity incentives, and infrastructure improvements, such as upgraded bridges, oracles, and compliance tools.
OKB Soars 150% After Token Burn and X Layer Upgrade Announcement
OKX’s one-time burn announcement triggered a massive spike in OKB’s price on Wednesday, with the token surging from around $46 to a high of $115 in just hours — a gain of nearly 150%. The rally came after the exchange confirmed it would permanently cut OKB’s total supply to 21 million and launch a major upgrade to its zkEVM-based X Layer blockchain.
The 4-hour chart shows a sharp vertical breakout, with volume jumping to 366,120 OKB, far above recent averages. The price is now trading at $108.66, slightly below the intraday peak, indicating some profit-taking after the rapid surge.
Technically, the move shattered all near-term resistance levels, sending OKB far above its 50-period EMA at $53.83. The extreme momentum suggests traders reacted strongly to the tokenomics overhaul and the planned ecosystem expansion, though the size of the move may lead to short-term volatility as the market digests the news.
