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.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	OKB-USDT OKB-USDT	okex	A	109.99USDT	-2.99%	86,876.97OKB	57,364	113.38USDT	113.81USDT
2	OKB-USDT OKB_USDT	gateio	A	109.83USDT	-3.14%	20,315.89OKB	19,348	113.39USDT	113.78USDT
3	OKB-USDC OKB-USDC	okex	A	109.88USDC	-3.07%	1,030.20OKB	2,181	113.36USDC	113.77USDC
4	OKB-BTC OKB-BTC	okex	A	0.001450BTC	0.69%	688.29OKB	1,218	0.001440BTC	0.001470BTC
5	OKB-EUR OKB-EUR	okex	A	95.13EUR	-3.05%	533.13OKB	641	98.12EUR	98.31EUR
6	OKB-TRY OKB-TRY	okex	A	5,354.00TRY	-3.02%	36.25OKB	35	5,521.00TRY	5,521.00TRY
7	OKB-USD OKBUSD	kraken	AA	109.80USD	-4.07%	20.14OKB	21	114.46USD	114.46USD
8	OKB-USDT okb_usdt	xtpub	-	109.99USDT	-3.02%	17,348.70OKB	13,693	113.42USDT	113.81USDT
9	OKB-USDT okb_usdt	lbank	C	109.84USDT	-3.15%	10,505.85OKB	16,515	113.41USDT	113.80USDT
10	OKB-USDT OKBUSDT	bitrue	D	110.00USDT	-3.00%	7,249.90OKB	37,922	113.40USDT	113.79USDT
11	OKB-USDT OKB_USDT	bitunix	C	109.91USDT	-3.08%	3,122.09OKB	10,966	113.40USDT	113.77USDT
12	OKB-USDT OKB-USDT	bingx	D	109.99USDT	-3.02%	1,972.53OKB	21,855	113.42USDT	113.80USDT
13	OKB-USDT OKB_USDT	coinw	-	109.79USDT	-3.18%	1,516.28OKB	4,561	113.40USDT	113.79USDT
14	OKB-USDT OKBUSDT	mexc	C	109.93USDT	-3.07%	970.99OKB	3,330	113.41USDT	113.75USDT
15	OKB-USDT OKB_USDT	bydfi	-	109.94USDT	-3.04%	736.12OKB	2,372	113.39USDT	113.76USDT
16	OKB-IDR okbidr	indodax	E	1,940,000.00IDR	-2.07%	7.05OKB	26	1,980,997.00IDR	1,999,969.00IDR
17	OKB-USDT OKBUSDT	hitbtc	E	104.62USDT	0.00%	0OKB	0	104.62USDT	104.62USDT
18	OKB-USDT OKBUSDT	latoken	D	86.24USDT	0.00%	0OKB	0	86.24USDT	86.24USDT