OKB is the utility token of OKX (formerly OKEx), a leading global cryptocurrency exchange. As the native token of the OKX ecosystem, OKB facilitates connections between promising digital asset projects and OKX's network of users and professional investors, fostering growth in blockchain technology adoption.
The Evolution of OKB: From Inception to Present
The story of OKB traces back to 2013 when Chinese entrepreneur Mingxing "Star" Xu founded Okcoin. In 2017, Xu established OKEx in Malta, which conducted a successful ICO on July 24, raising over $100 million. This paved the way for the launch of OKB - an ERC-20 token initially designed for transaction fee payments.
Key milestones in OKB's development:
- 2018: Jay Hao joins as CEO
- 2019: Quarterly token buyback and burn program initiated
- 2020: OKChain testnet launch and permanent removal of 700M unsold tokens
- 2025: OKEx rebrands as OKX, reflecting platform expansion beyond exchanges
👉 Discover how OKB powers the OKX ecosystem
Tokenomics and Value Appreciation
OKB employs a deliberate deflationary model to enhance token value:
| Mechanism | Description | Impact |
|---|---|---|
| Fixed Supply | Total capped at 300M after 2020 burn | Scarcity |
| Quarterly Burns | 30% of spot trading revenue used for buybacks | Reduced circulation |
| Tiered Benefits | Higher OKB holdings = greater fee discounts | Utility demand |
The platform transparently publishes burn records every quarter, with over 20M OKB permanently removed from circulation to date.
OKB Utility: More Than Just a Trading Token
OKB holders enjoy multifaceted benefits within the OKX ecosystem:
- Transaction Fee Discounts (Up to 40% savings)
- Governance Rights (Platform voting privileges)
Passive Income Opportunities:
- OKX Profit yield-generating products
- Jumpstart launchpad allocations
- VIP Status Advancement (Combining OKB holdings with trading volume)
Frequently Asked Questions
Q: How does OKB differ from other exchange tokens?
A: OKB stands out through its deflationary model, cross-chain compatibility (OKC network), and integrated ecosystem utilities beyond simple fee discounts.
Q: What's the best way to acquire OKB?
A: Users can purchase OKB directly on OKX spot markets or earn through platform participation rewards.
Q: How often does OKX conduct token burns?
A: The exchange executes buyback-and-burn events quarterly, with amounts proportional to trading revenue.
Q: Can OKB be staked for rewards?
A: Yes, OKX offers multiple yield-generating products for OKB holders through its OKX Profit platform.
👉 Start exploring OKB's potential today
The Future of OKB in Web3
With OKX's transition into a comprehensive Web3 platform, OKB is evolving beyond its exchange token origins. Recent developments include:
- Native support for OKC (OKX Chain) smart contracts
- Integration with decentralized applications
- Expanded use cases in OKX's growing NFT marketplace
As the digital asset landscape matures, OKB's position as both a utility token and value-accruing asset makes it a unique proposition for long-term crypto investors seeking exposure to infrastructure-grade blockchain projects.