OKX, a leading cryptocurrency exchange, has introduced a new tokenomics model, including the burning of 65.26 million OKB. This event prompted a surge in the token's price and changes in its supply.
Reasons for OKB Coin Burn
The burn of 65.26 million OKB, acquired through historical buybacks, aims to establish a fixed supply of 21 million tokens. OKX seeks to constrain the circulation of tokens that emerged from past initiatives. This initiative is set to create a clear and limited supply following the burn, ensuring a permanent supply-side equilibrium.
Changes to OKB Smart Contracts
Alongside the burn, OKX will update the OKB smart contract, focusing on removing the ability to mint new coins and initiate manual burns. These technical modifications are expected to maintain stable supply dynamics across future transactions.
Closure of OKTChain and Transition to OKB
In a separate announcement, OKX confirmed the conclusion of its OKTChain activities. OKT coins will convert into OKB at a rate based on average closing prices from July 13 to August 12, 2025. Despite the transition, OKTChain will remain operational until its planned closure on January 1, 2026.
Following recent announcements, OKX has reinforced its commitment to establishing definitive supply structures and advancing its ecosystem. The market's response reflects heightened interest, potentially setting a foundation for the future of OKB.
