What is OKB Token (OKB)?

In the cryptocurrency world, exchange tokens are special cryptocurrencies that offer users various advantages. OKB coin is one of these exchange tokens we frequently hear about. So, what is the OKB token, how did it come about, and what are its uses? In this guide-like article, we will cover all aspects of OKB, from its history to its technical features.

Definition and Origin of OKB

OKB is a local cryptocurrency token issued by the cryptocurrency exchange OKX (formerly OKEx). OKX was founded in 2017 by Chinese entrepreneur Star Xu and its headquarters later moved to the Seychelles. Shortly after its launch in 2017, the exchange decided to develop a token for its own ecosystem. To this end, the OKB token was launched by OKEx in March 2018. OKB's goal was to provide various advantages to exchange users and support the growth of the OKX ecosystem. When OKB was first introduced, it was designed as a token operating on the Ethereum blockchain using the ERC-20 standard. Thanks to its use cases within the exchange, OKB quickly gained popularity. Users began taking advantage of opportunities such as discounts on transaction fees, participation in new token sales (launchpads), and staking. Initially launched in collaboration with the OK Blockchain Foundation and OKX, OKB has been positioned as a global utility token.

OKB's History: Major Milestones

From OKB's inception to the present day, many significant developments have occurred for both the token and the OKX ecosystem to which it is affiliated. Here are some key milestones in the history of OKB:

• 2017: OKEx, an exchange established in China, began operations. Its founder, Star Xu, previously launched OKCoin in 2013. OKEx quickly grew to become a global cryptocurrency platform.
• 2018: OKEx launched its own platform token. When was the OKB coin released? To answer the question, OKB was launched as early as February-March 2018. Initially ERC-20 based, this token was designed to provide various privileges to OKEx users.
• 2019: Major strides were made in the OKB ecosystem. OKX announced its own blockchain project, the OKExChain (OKC) network, to enter the decentralized finance and blockchain space. At the end of 2019, OKEx announced that it was preparing to launch the OKChain testnet, where OKB could also be used. That same year, a regular buyback and burn program was launched for OKB. For example, between September and November 2019, approximately 5.9 million OKB tokens were burned, removing them from the total supply. These developments laid the foundation for the deflationary model that increased OKB's value.
• 2021: The OKEx brand revitalized itself in the global market. The exchange changed its name to OKX and, with this change, unveiled its new vision. The OKX name symbolized the platform's expansion into Web3 areas such as DeFi, NFTs, and wallet services. The rebranding marked a significant milestone in the evolution of the OKEx journey, which began in 2017.
• 2023: The OKB ecosystem expanded further this year. OKX launched a new blockchain network called OKBChain, taking steps to integrate OKB into decentralized applications. OKBChain was designed as a protocol developed by OKX, independent of the existing OKXChain, and the goal was to create an ecosystem focused on DeFi (decentralized finance) and Web3 around OKB. Thanks to this development, OKB began to be used in various blockchain applications, in addition to the OKX exchange. Furthermore, by 2023, the OKB token became a versatile asset, supported by various DeFi protocols and OKX's Web3 wallets.
• 2025: A historic shift occurred in OKB's token economy. In August 2025, OKX announced that it was burning 65 million OKB tokens in one go, dramatically reducing the total supply. This massive burn reduced OKB's total supply from approximately 300 million to 21 million. With this move, OKX aimed to align OKB's supply with a fixed model similar to Bitcoin and permanently disabled new minting operations in the token's smart contract. This development led to a sudden surge in OKB's value, with the token reaching all-time highs in 2025.

The milestones mentioned above have shaped OKB into its current state. Once only offering advantages for transactions on the OKX platform, OKB has gradually become the center of a broader ecosystem with its own blockchain network, a global community, and diverse use cases. As of September 2025, OKB price is trading at $180. The aforementioned burn caused the cryptocurrency to rise to $255.

Why is OKB Valuable?

The value of a cryptocurrency is generally related to its benefits and adoption rate. There are a number of factors that make OKB valuable. Let's examine these to better understand OKB.

Trading Fee Discounts

OKB offers discounts on trading fees on the OKX exchange. Users who hold a certain amount of OKB can benefit from discounts of up to 40% on commissions paid when trading. The discount rate increases as the amount of OKB held increases. This makes OKB particularly attractive to users who trade in high volumes.

Launchpad Participation Opportunity (OKX Jumpstart)

Another important use of OKB is its privileges on OKX Jumpstart (launchpad), the OKX exchange's token sale platform. OKB holders receive priority participation in IEOs (initial exchange offerings) of emerging crypto projects. Users who stake a certain amount of OKB have early access to token sales on the platform and can invest. This is a feature that creates demand and adds value to OKB. Currently, Jumpstart has 13 projects.

Passive income with staking

OKB also offers passive income opportunities to its users. It is possible to earn interest by staking OKB on the OKX platform or by locking OKB through the OKX Earn program. OKB can also generate yield (yield farming) by investing in some supporting DeFi protocols. These staking and earning opportunities create additional motivation for users who hold OKB long-term.

Regular token burns and a deflationary model

OKB coin adopts a deflationary token model. OKX uses 30% of its quarterly transaction fee revenue to buy back OKB tokens from the market and burn them. This OKB burn mechanism aims to increase the scarcity of the token by reducing the circulating supply over time. Indeed, periodic burns have been carried out since 2019, and the model became even more aggressive with the major burn in 2025. This burn strategy is considered a key factor supporting OKB's long-term value, as the value of existing tokens could theoretically increase as the supply decreases.

Its Role in the OKX Ecosystem

With the expansion of the OKX ecosystem, OKB has become available not only within the exchange but also in various Web3 and decentralized finance applications. On the blockchain networks developed by OKX (OKC and the new OKBChain), OKB can be used in smart contract transactions and decentralized applications. For example, OKB is available as a trading pair on OKX's decentralized exchange and DeFi platforms, and through integration with different protocols, it can be used for inter-wallet transfers or yield farming activities. This versatility also gives OKB a value outside of the exchange. OKB holders also have a say in the periodic voting on the OKX platform, allowing them to vote for newly listed coins.

Who is the Founder of OKB?

Who issued the OKB token? OKB was developed directly by the OKX Exchange, and the team behind it consists of the founders and developers of OKX. OKX's founder is Chinese entrepreneur Star Xu (Xu Mingxing). Star Xu is a veteran of the cryptocurrency industry, having founded the first cryptocurrency exchange, OKCoin, in 2013 and subsequently launched the OKEx (now OKX) platform in 2017. OKB is also the product of the OKX team led by Star Xu.

Star Xu and the OKX team launched OKB with the aim of offering a loyalty program and a utility token to the exchange's user base. OKX's OK Blockchain Foundation played a significant role in OKB's development and growth. While initially headquartered in Malta, OKX now maintains its legal headquarters in the Seychelles and operates globally.

In short, OKB's founder is not a single individual but the OKX exchange itself. However, the visionary behind this exchange is known as Star Xu. Xu has indirectly influenced both the technical and strategic development of OKB.

Technical Overview

Technically, the OKB token possesses the fundamental parameters and functions of a cryptocurrency. The technical specifications regarding OKB's infrastructure and usage can be summarized as follows:

Consensus and Blockchain

When OKB first launched, it was an ERC-20 token running on the Ethereum network. In other words, it was secured by Ethereum's consensus mechanism (the structure transitioning from Proof of Work to Proof of Stake). Subsequently, OKX developed its own blockchain network, OKExChain (OKC), and OKB began participating on this network. OKXChain was initially an EVM (Ethereum Virtual Machine)-compatible smart contract platform with a Proof-of-Stake consensus. OKB could be used as a native token in transactions on OKXChain, enabling faster/cheaper transactions than the potentially high fees on the Ethereum network. With the announcement of OKBChain in 2023 and OKX's X Layer 2 solution, which went live in 2025, OKB's infrastructure has been further developed. OKB is now being updated to run on OKX's next-generation blockchain, the zkEVM-based X Layer (OKB's migration from Ethereum to this new network is planned for 2025).

Token Symbol and Currency

OKB's ticker symbol is OKB, identical to its name. For divisibility, 1 OKB, like most other cryptocurrencies, can be divided into 10^-8 units (0.00000001 OKB).

Total Supply and Circulation

When the OKB token was first launched, the total supply target was set at 300,000,000 OKB. Initially, a portion of this supply was released into the market, while the remainder was held in locked reserves and phased release plans. For example, at the beginning of 2020, the circulating supply was 300 million, with an additional 700 million tokens planned to be released in the coming years. However, OKX revised this plan through its burn program, which began in 2019. Millions of OKB coins were removed from circulation through periodic burns between 2019 and 2022. Ultimately, in 2022, the company announced that the total supply would be held at a fixed 300 million tokens and that no additional tokens would be issued. More strikingly, after the major burn in 2025, OKB's supply was reduced to approximately 21 million tokens, a level fixed in the code. This means that OKB's current maximum supply is locked at 21 million. This makes OKB a limited asset, similar to Bitcoin in terms of supply. The entire circulating supply is held by the community and investors; new tokens cannot be minted.

Supply Distribution

In OKB's initial distribution, some tokens were allocated to the project team, some to early investors, and the remainder to the public sale. For example, approximately 40% was intended for the founding team and project development, 10% for investors, and 50% for community events and rewards. Over time, this distribution has shifted with the release of locked tokens and burns. Today, the vast majority of OKB is in active circulation, and there is no dedicated pool held for burning in OKX reserves.

Use Cases

Technically, OKB's use areas encompass its interaction with smart contracts and its in-platform functions:

• Transaction Fee Payments and Discounts: OKB can be used to pay transaction fees on the OKX exchange. When users hold OKB in their accounts, the system automatically applies commission discounts. This works by dynamically determining a discount rate based on the OKB balance in the user's wallet through smart contracts.
• Staking & Lending: OKB is an asset that can be staked via smart contracts. In Earn products on the OKX platform, users lock their OKB for a specified period and receive interest from the protocol in return. Similarly, decentralized lending protocols can borrow or earn interest by using OKB as collateral.
• Launchpad (OKX Jumpstart): One of OKB's smart contract uses is participating in token sales. When a new project token sale takes place on the OKX Jumpstart platform, users can participate by locking their OKB via a smart contract. Once the sale is complete, the smart contract transfers the newly distributed tokens to participants in proportion to their OKB holdings.
• DeFi, Web3, and NFT Integrations: OKB finds a place not only in OKX's own applications but also in decentralized applications on various blockchains. For example, OKB can be added to liquidity pools on some DeFi exchanges (DEXs) or used for yield farming. OKX's Web3 wallet, with its multi-blockchain support, has made OKB an asset that users can spend in decentralized applications. There are also examples of OKB being traded on NFT marketplaces. This makes OKB a token that can technically integrate into a broad ecosystem.
• In summary: OKB, an Ethereum-based token, has evolved to work on OKX's own blockchains. Its limited and burnable supply, compatibility with smart contracts, and broad range of uses position it as a cryptocurrency with a strong technical infrastructure.

Frequently Asked Questions (FAQ)

Below, you can find answers to any questions you may have about OKX's OKB:

• When did the OKB coin appear?: The OKB coin first appeared in 2018. The OKX (then known as OKEx) exchange launched OKB as its platform's native token in the first quarter of 2018. Since then, OKB has been traded on the market, and its value has increased over the years in line with the exchange's growth.
• Who issued the OKB token?: The OKB token was issued by the OKX cryptocurrency exchange. OKX founder Star Xu and the OKX team are behind the project. In other words, OKB was developed collectively by OKX, a major cryptocurrency exchange, rather than by an individual.
• How does OKB work, and on which blockchain is it located?: OKB was initially a token running on the Ethereum blockchain using the ERC-20 standard. Over time, OKX developed its own blockchain, OKXChain (OKC), and OKB became available on this network. Today, OKB is integrated with OKX's next-generation solutions, such as Layer X, in addition to Ethereum, and can be transferred via various interchain bridges.
• What is the total supply of OKB?: OKB's initial total supply was 300 million tokens. However, this supply has decreased over time with regular token burns. Following a major burn in 2025, OKB's maximum supply was set at 21 million tokens. This means the current total supply is around 21 million, and no new OKB is planned.
• What is the purpose of OKB and why is it valuable?: OKB offers various uses, including providing transaction fee discounts on the OKX exchange, enabling participation in new token sales (Launchpad), and generating passive income through staking. Furthermore, it has a deflationary structure because its supply is reduced through a regular burn mechanism, making the token more scarce and potentially more valuable. In short, OKB gains value in the eyes of investors thanks to both its tangible advantages and its limited supply model.
• How does the OKB burn mechanism work?: OKB's burn mechanism is based on revenue sharing with the OKX exchange. OKX purchases OKB from the market with 30% of its quarterly trading fee revenue and burns these tokens, removing them from circulation. Burning is the process of sending OKB to a special wallet, making them inaccessible. This mechanism aims to support the value of existing tokens by reducing the total supply over time. Indeed, millions of OKB have been burned to date, significantly reducing the supply.

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