OKX Dismantles 93% of OKB Supply in Bold Move
OKX set a new standard in the crypto world by burning a whopping 278,999,999 OKB tokens.This dramatic step slashed the total supply from 300 million to just 21 million.
This decisive action effectively mirrors Bitcoin’s strict supply cap, ushering in a deflationary era for OKB. The “OKB Buy-Back and Burn” wallet executed the move on August 15, sending the tokens to a dead address.
OKX’s strategic overhaul extends beyond merely reducing supply.It aims to align OKB closely with the success of its blockchain, X Layer. The exchange’s strategy ensures that no new OKB tokens can be minted after the smart contract upgrade on August 18.
- Eliminates minting function, ensuring permanent scarcity.
- Phasing out OKTChain; tokens auto-converted to OKB.
- Price surged 25%, settling at $93.46 post-declaration.
OKTChain, OKX’s initial blockchain venture, will cease operations by January 2026. Its tokens are migrating to OKB, consolidating OKX’s assets under one token.Despite initial hesitation, decentralised apps running on OKTChain face an uncertain path.
Traders greeted the move with a mixture of enthusiasm and caution. While appreciating the triggered scarcity, they remain sceptical about OKB’s practical use outside OKX’s ecosystem. The real test lies ahead, as OKX integrates OKB more deeply with X Layer.
