OKB

OKB is the token of the OKX exchange and the gas token of its Ethereum layer-2 network, X Layer.

OKB was created by OKEx, now called OKX, one of the largest crypto exchanges, as its platform token. Secondary sources say it was first issued in 2018; the OKB token contract now used on Ethereum was deployed on 26 April 2019. For years OKX bought OKB back and burned it, which means destroying tokens permanently, so the token worked much like a share in the exchange's success.

That changed in August 2025. OKX burned 65.26 million OKB from its past buybacks and reserves, removed the ability to mint or manually burn tokens and fixed the total supply at 21 million. Buybacks ended. At the same time it closed its older OKTChain, converted OKT into OKB and began phasing out the Ethereum version of OKB, about 429,000 of which remained there in September 2026.

Today OKB is mainly the gas token of X Layer, meaning it pays transaction fees there. X Layer is a Layer 2 network, a faster and cheaper chain that settles to Ethereum. It moved to the OP Stack in December 2025, and OKX runs its sequencer, the component that orders transactions. In May 2026 OKX added Exchange OS, which lets builders launch spot, perpetual and prediction markets on X Layer. On the OKX exchange, OKB is also used for fee benefits and token-launch programmes.

OKX, the issuer, pleaded guilty in the United States in February 2025 to running an unlicensed money transmitting business and agreed to pay about $505 million. It holds licences in several places, including Dubai. On 27 September 2026 OKB was worth about $2.56 billion, ranking #43 by market value on CoinGecko.