OKX Enhances X Layer Blockchain and Sets Permanent OKB Supply Cap at 21 Million Tokens

In a significant move to bolster its blockchain infrastructure, OKX has successfully upgraded its X LAYER network, focusing on decentralized finance (DeFi) and payment solutions. The upgrade included the permanent destruction of 65,256,712 OKB tokens from reserves and buyback programs, effectively increasing the token's scarcity. Additionally, the OKB smart contract was revised to eliminate future minting capabilities and manual burns, cementing a hard cap of 21 million tokens. This strategic decision underscores OKX's commitment to creating a deflationary economic model for OKB, aligning with long-term value appreciation for holders. The upgrade, finalized on August 13, 2025, marks a pivotal step in OKX's vision for a more efficient and scalable blockchain ecosystem.

OKX Upgrades X Layer and Fixes OKB Supply at 21 Million Tokens

OKX has executed a significant upgrade to its X Layer blockchain, enhancing performance with a focus on decentralized finance and payment solutions. The upgrade included the permanent destruction of 65,256,712 OKB tokens from reserves and buyback programs, a MOVE designed to increase scarcity.

The OKB smart contract underwent revisions to eliminate future minting capabilities and manual burns, cementing a hard cap of 21 million tokens. This structural shift coincides with the planned sunset of OKTChain, whose native OKT tokens will be convertible to OKB at a rate determined by market prices between July 13 and August 12, 2025.

Market reaction was immediate, with OKB briefly touching a record $134 before stabilizing NEAR $129. The supply constraint mirrors Bitcoin's scarcity model, potentially increasing OKB's appeal as a store-of-value asset within OKX's ecosystem.