Question 1

What is OKB (OKB)?

Accepted Answer

OKB is a utility token issued by the OKX exchange, designed to serve multiple functions across the OKX ecosystem. It provides holders with benefits such as fee discounts, staking incentives, governance participation, and functions as the native gas token for OKX’s Layer-2 network, X Layer, which offers Ethereum compatibility and low-fee transaction capabilities.

Question 2

What is OKB (OKB) used for?

Accepted Answer

* Trading fee discounts, staking rewards, and governance rights on OKX 
* Gas payments on X Layer, OKX’s zkEVM-powered L2 network that supports up to ~5,000 TPS with near-zero fees

Question 3

The PP Upgrade

Accepted Answer

The PP Upgrade of X Layer (August 5, 2025) makes OKX’s network faster, cheaper, and more Ethereum-compatible. Transaction capacity jumps to 5,000 TPS, gas costs are nearly eliminated, and security is strengthened. OKX is focusing on DeFi, payments, and real-world assets, while integrating X Layer across its products: the Wallet supports it natively, the Exchange offers gas-free withdrawals, and OKX Pay will use it as the default settlement layer.

At the same time, OKTChain is being phased out. Trading in OKT ended August 13, and starting August 15, all OKT is being automatically converted into OKB at a 30-day average price. The old chain will technically run until January 1, 2026, but OKB is taking over as the unified standard going forward.

OKB itself is shifting to a scarce, capped model. A large one-time burn of over 65 million tokens is paired with a smart contract upgrade that permanently fixes the total supply at 21 million. Withdrawals of OKB to Ethereum L1 are being discontinued, with all usage moving to X Layer.

**What else happened**

* OKT orders were auto-canceled on August 13. 
* Auto-conversion of OKT to OKB began on August 15, with deposits accepted until January 2026.
* The OKB burn occurred August 15, followed by the smart contract upgrade on August 18.
* From August 13, OKB withdrawals to Ethereum L1 were disabled.

Question 4

Who created OKB (OKB)?

Accepted Answer

OKB was created by Mingxing Xu, also known as Star Xu, the founder of OKX. He is also the CEO of OKCoin.com, a globally recognized cryptocurrency exchange platform. Jay Hao, who joined OKX as CEO in its early stages, has also contributed significantly to the development of the platform and its offerings.

#	Instrumen	Bursa	Skor Tolok Ukur	Harga	Perubahan 24j	Volume 24j	Trading 24j	Pembukaan 24j	Tertinggi 24j
1	OKB-USDT OKB-USDT	okex	A	117,92USDT	0,03%	98.750,85OKB	52.314	117,88USDT	118,63USDT
2	OKB-USDT OKB_USDT	gateio	A	117,92USDT	0,08%	23.715,14OKB	18.655	117,82USDT	118,55USDT
3	OKB-USDC OKB-USDC	okex	A	117,96USDC	0,05%	1.512,80OKB	2.617	117,90USDC	118,60USDC
4	OKB-BTC OKB-BTC	okex	A	0.001458BTC	0,54%	353,68OKB	649	0.001450BTC	0.001458BTC
5	OKB-EUR OKB-EUR	okex	A	102,28EUR	-0,19%	231,32OKB	617	102,47EUR	103,20EUR
6	OKB-USD OKBUSD	kraken	AA	117,88USD	-0,17%	120,25OKB	40	118,08USD	118,84USD
7	OKB-TRY OKB-TRY	okex	A	5.744,00TRY	1,31%	5,56OKB	12	5.670,00TRY	5.760,00TRY
8	OKB-USDT okb_usdt	xtpub	-	117,86USDT	-0,02%	19.640,91OKB	15.287	117,88USDT	118,60USDT
9	OKB-USDT okb_usdt	lbank	C	117,86USDT	-0,01%	11.229,14OKB	18.623	117,87USDT	118,58USDT
10	OKB-USDT OKBUSDT	bitrue	D	117,91USDT	0,03%	8.153,08OKB	38.631	117,87USDT	118,60USDT
11	OKB-USDT OKB_USDT	bitunix	C	117,91USDT	0,03%	3.565,30OKB	10.634	117,88USDT	118,59USDT
12	OKB-USDT OKB-USDT	bingx	D	117,88USDT	0,02%	2.120,58OKB	22.979	117,86USDT	118,61USDT
13	OKB-USDT OKB_USDT	coinw	-	117,85USDT	-0,02%	1.804,35OKB	4.676	117,87USDT	118,51USDT
14	OKB-USDT OKBUSDT	mexc	C	117,78USDT	-0,09%	886,38OKB	3.872	117,88USDT	118,53USDT
15	OKB-USDT OKB_USDT	bydfi	-	117,87USDT	-0,00%	738,03OKB	2.271	117,87USDT	118,44USDT
16	OKB-IDR okbidr	indodax	E	2.075.000,00IDR	1,22%	3,39OKB	21	2.050.000,00IDR	2.075.000,00IDR
17	OKB-USDT OKBUSDT	hitbtc	E	104,62USDT	0,00%	0OKB	0	104,62USDT	104,62USDT
18	OKB-USDT OKBUSDT	latoken	D	91,27USDT	0,00%	0OKB	0	91,27USDT	91,27USDT