OKB, a global utility token issued by OKX, jumped almost 170% in an hour on Wednesday after the platform revealed a tokenomic overhaul, including a punctual burn of more than 65 million tokens.
The main dishes to remember:
- OKB jumped almost 170% in an hour after OKX announced a 65 m token burn.
- The “PP upgrade” to layer X increases the flow rate to 5,000 TP, reduces gas costs and improves Ethereum compatibility.
- OKX will eliminate Oktchain and Ethereum L1 OKB while expanding the ecosystem of layer X.
According to CoinmarketCap data, OKB increased from around $ 47 to $ 126 on news, gaining 24 hours to 172%.
The burn will constantly reduce OKB’s total offer to 21 million, marking one of the biggest discounts in the supply of the history of the token.
OKX reveals the “PP Upet” to X with the latest Polygon CDK integration
In parallel with the burn, OKX detailed a major upgrade of its Poly Poly Poly Channel ZKEVM
Improvements increase flow to 5,000 transactions per second, reduce gas costs to zero and improve Ethereum compatibility for developers.
The X layer will be integrated through the OKX wallet, the OKX Exchange and the OKX Pay, introducing features such as gas without gas for the USDT and other major assets.
As part of the restructuring, OKX will start Oktchain due to overlapping functions, prohibiting trading OKT on August 13, 2025, with automatic conversions in OKB from August 15.
The chain will remain active until January 1, 2026, for final token deposits and conversions.
The redesign of Tokenomics will also see OKB remain the only gas and the native token for layer X while eliminating its Ethereum L1 version. Users will have to fill their tokens on x layer via OKX before Ethereum L1 withdrawals are disabled.
OKX plans to strengthen the ecosystem with a dedicated fund, liquidity incentives and improved infrastructure, including transversal bridges, oracles and conformity tools, in order to position the X layer as a leading network for DEFI, payments and real asset applications.
OKX integrates Paypal for zero cryptography purchases in Europe
In July, OKX joined forces with Paypal to allow users of the European economy zone to buy and deposit cryptocurrencies directly via the payment platform.
This decision aims to simplify the purchase process by offering familiar familiar payment methods such as the paypal balance, the related bank accounts and the cards, without any additional configuration necessary once the accounts have been connected.
The initiative follows the recent exchange markets in the registration of crypto-sets (Mica), guaranteeing full compliance with regulations on EU digital assets.
Circle Internet Group and OKX have also announced a partnership aimed at expanding access and liquidity for Stablecoin USDC.
The collaboration will introduce conversions 1: 1 between the USD and the USDC on the OKX platform, improving the efficiency of trading and accessibility for more than 60 million global users of the platform.
A key element in the partnership is the integration of direct conversions 1: 1 USD-USDC and USDC-TO-USD on the OKX trading platform.
The OKB post rises almost 170% in an hour after OKX announced that 65 million token burn appeared first on Cryptonews.
