OKX completed a significant destruction of its OKB tokens on August 15, 2025, burning nearly $26 billion worth as part of a major supply restructuring. This action reduces the total supply of OKB from 300 million to just 21 million, aligning it with Bitcoin’s supply model. The burn led to a remarkable surge in OKB’s value, nearly doubling in price over the week. This token is integral to OKX’s exchange and serves as the native gas token for its Ethereum layer-2 network, X-Layer. Alongside this transition, OKX is upgrading its smart contract, removing minting and burning capabilities starting August 18. This is part of a broader strategic shift aimed at enhancing the X-Layer network, which has recently integrated Polygon’s chain development kit to improve transaction efficiency. As part of its growth initiatives, OKX has also allowed U.S. residents to utilize its services, with plans for a potential public listing.

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