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	112.15USDT	-3.28%	93,532.50OKB	61,741	115.95USDT	117.66USDT
2	OKB-USDT OKB_USDT	gateio	A	112.06USDT	-3.28%	25,177.46OKB	27,498	115.86USDT	117.47USDT
3	OKB-USDC OKB-USDC	okex	A	112.03USDC	-3.34%	1,544.22OKB	3,991	115.90USDC	117.41USDC
4	OKB-BTC OKB-BTC	okex	A	0.001365BTC	-1.82%	396.09OKB	505	0.001390BTC	0.001397BTC
5	OKB-EUR OKB-EUR	okex	A	99.90EUR	-3.08%	201.49OKB	621	103.07EUR	104.62EUR
6	OKB-USD OKBUSD	kraken	AA	111.61USD	-3.74%	97.19OKB	98	115.95USD	117.87USD
7	OKB-TRY OKB-TRY	okex	A	5,555.00TRY	-3.19%	63.07OKB	60	5,738.00TRY	5,805.00TRY
8	OKB-USDT okb_usdt	lbank	C	112.15USDT	-3.26%	11,356.05OKB	28,492	115.93USDT	117.50USDT
9	OKB-USDT okb_usdt	xtpub	-	112.17USDT	-3.26%	9,353.46OKB	10,437	115.95USDT	117.47USDT
10	OKB-USDT OKBUSDT	bitrue	D	112.17USDT	-3.27%	7,794.23OKB	39,138	115.96USDT	117.50USDT
11	OKB-USDT OKB_USDT	bitunix	C	112.16USDT	-3.29%	3,349.06OKB	13,127	115.97USDT	117.48USDT
12	OKB-USDT OKB-USDT	bingx	D	112.17USDT	-3.29%	1,848.62OKB	22,128	115.98USDT	117.46USDT
13	OKB-USDT OKB_USDT	coinw	-	112.09USDT	-3.21%	1,451.22OKB	3,689	115.81USDT	117.50USDT
14	OKB-USDT OKBUSDT	mexc	C	112.17USDT	-3.30%	848.47OKB	3,275	116.00USDT	117.46USDT
15	OKB-USDT OKB_USDT	bydfi	-	112.21USDT	-3.25%	722.85OKB	2,617	115.97USDT	117.47USDT
16	OKB-IDR okbidr	indodax	E	2,030,000.00IDR	-2.82%	16.18OKB	59	2,088,970.00IDR	2,337,459.00IDR
17	OKB-USDT OKBUSDT	hitbtc	E	104.62USDT	0.00%	0OKB	0	104.62USDT	104.62USDT
18	OKB-USDT OKBUSDT	latoken	D	124.09USDT	0.00%	0OKB	0	124.09USDT	124.09USDT