Overview
OKB is the token of OKX, one of the world’s largest cryptocurrency exchanges, founded by Star Xu. OKB launched in 2018 to give OKX users trading-fee discounts and other benefits.
In August 2025, OKX made a dramatic change: it burned about 279 million OKB, including a single burn of about 65 million tokens worth roughly $7.6 billion, and permanently fixed the supply at 21 million, the same number as Bitcoin. The price more than doubled within days.
How it works
OKB has several uses:
- On OKX: lower trading fees, access to Jumpstart (new token launches) and other promotions.
- On X Layer: OKB is the only gas token of X Layer, OKX’s own Ethereum Layer 2, built to connect OKX’s exchange and wallet users with on-chain apps.
- Staking and DeFi: OKB can be staked and used in apps on X Layer.
After the 2025 upgrade, the OKB smart contract can no longer mint or burn tokens. Its supply will stay at 21 million forever.
The OKB token
| OKB at a glance | |
|---|---|
| Supply | 21 million OKB (fixed forever) |
| Supply before August 2025 | 300 million (originally) |
| Price (21 Oct 2026) | about $116 |
| All-time high | about $229 (2025) |
| Market cap | about $2.4 billion (#42) |
A fixed supply means no new OKB can dilute holders. But it also means the price depends entirely on demand, which comes mainly from OKX’s users and X Layer.
Security and reliability
OKX is a large, established exchange, but OKB holders should know the risks:
- OKX legal history. In February 2025, OKX pleaded guilty in the US to operating an unlicensed money-transmitting business and agreed to pay over $500 million. It has since expanded its licenses in Europe, the US and elsewhere.
- X Layer activity. X Layer is still small: in October 2026, a single lending market held about two-thirds of its capital, a sign of a thin ecosystem.
- Exchange risk. As with BNB, any major problem at OKX, such as a hack, a regulatory action or a loss of trust, would hit OKB hard.
OKB vs. the competition
| OKB | BNB | Ethereum | |
|---|---|---|---|
| Linked to | OKX | Binance | No company |
| Supply | Fixed at 21 million | Shrinking toward 100 million | No cap, low issuance |
| Blockchain | X Layer (Layer 2) | BNB Chain | Ethereum |
| Ecosystem size | Small | Large | Largest |
Our verdict
OKB is a simple bet on OKX: a scarce, fixed-supply token tied to one of the world’s biggest exchanges, now also used as gas on X Layer. The 2025 burn made its tokenomics among the cleanest of any exchange token.
But its value depends almost entirely on one company, X Layer has yet to take off, and OKX has a costly legal past. OKB is a high-risk investment: invest only what you can afford to lose.
This review is for information only and is not financial advice.