OKB, a worldwide utility token issued by the OKX, surged almost 170% inside an hour on Wednesday after the platform revealed a sweeping tokenomics overhaul, together with a one-time burn of greater than 65 million tokens.
Key Takeaways:
- OKB surged almost 170% in an hour after OKX introduced a 65M token burn.
- The “PP improve” to X Layer boosts throughput to five,000 TPS, slashes fuel charges, and improves Ethereum compatibility.
- OKX will section out OKTChain and Ethereum L1 OKB whereas increasing X Layer’s ecosystem.
In keeping with information from CoinMarketCap, OKB jumped from round $47 to $126 on the information, lifting its 24-hour achieve to 172%.
The burn will completely scale back OKB’s whole provide to 21 million, marking one of many largest provide cuts within the token’s historical past.
OKX Unveils ‘PP Improve’ to X Layer with Newest Polygon CDK Integration
Alongside the burn, OKX detailed a serious improve to its Polygon-powered zkEVM public chain, X Layer, integrating the newest Polygon CDK know-how in what it calls the “PP improve.”
The enhancements enhance throughput to five,000 transactions per second, decrease fuel charges to close zero, and improve Ethereum compatibility for builders.
X Layer might be embedded throughout OKX Pockets, OKX Change, and OKX Pay, introducing options similar to gasless withdrawals for USDT and different main belongings.
As a part of the restructuring, OKX will decommission OKTChain as a consequence of overlapping features, halting OKT buying and selling on August 13, 2025, with automated conversions to OKB beginning August 15.
We’re making a strategic improve to @XLayerOfficial, aiming to construct a number one public chain targeted on DeFi, funds, and RWAs.
Key updates:
1️⃣ Underlying tech – PP improve
2️⃣ Ecosystem growth technique
3️⃣ Deep integration with OKX Pockets, OKX Change & OKX Pay
4️⃣… pic.twitter.com/OU4EpKtuJz— OKX (@okx) August 13, 2025
The chain will stay energetic till January 1, 2026, for remaining token deposits and conversions.
The tokenomics revamp can even see OKB stay the only real fuel and native token for X Layer whereas phasing out its Ethereum L1 model. Customers might want to bridge their tokens to X Layer through OKX earlier than Ethereum L1 withdrawals are disabled.
OKX plans to bolster the ecosystem with a devoted fund, liquidity incentives, and upgraded infrastructure, together with cross-chain bridges, oracles, and compliance instruments, in a bid to place X Layer as a number one community for DeFi, funds, and real-world asset functions.
OKX Integrates PayPal for Zero-Payment Crypto Purchases in Europe
In July, OKX partnered with PayPal to permit customers within the European Financial Space to purchase and deposit cryptocurrencies straight by the funds platform.
The transfer goals to simplify the shopping for course of by providing acquainted, localized fee strategies similar to PayPal stability, linked financial institution accounts, and playing cards, with no additional setup wanted as soon as accounts are related.
The initiative follows the trade’s current Markets in Crypto-Property (MiCA) registration, making certain full compliance with EU digital asset rules.
Circle Web Group and OKX have additionally introduced a partnership geared toward increasing entry to and liquidity for the USDC stablecoin.
The collaboration will introduce 1:1 conversions between USD and USDC on the OKX platform, enhancing buying and selling effectivity and accessibility for the platform’s greater than 60 million world customers.
A key part of the partnership is the mixing of direct 1:1 USD-to-USDC and USDC-to-USD conversions on OKX’s buying and selling platform.
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