First published 11 May 2020, when OKB was an exchange token and not yet the gas on a layer 2. Expanded in October 2026 for the supply cut and for X Layer. OKB is the utility token of OKX, the exchange formerly called OKEx. On the exchange it can cut fees and unlock account perks, under OKX’s own rules, in the places OKX offers them. On X Layer, a layer 2 network in the same brand, OKB is the coin that pays for computation. An app can show both as “OKB” and still mean a balance you cannot withdraw, a token on Ethereum, or the gas coin on X Layer.
What is BNB? is the older exchange token that grew a chain. What is WhiteBIT Coin (WBT)? is a smaller one. This page is OKX’s.
A company burn, then a fixed number
OKB was created as a token for the exchange, years before X Layer. The company bought tokens back over time. In August 2025 OKX said it would burn about 65.3 million OKB from those historical buybacks and from treasury reserves, in one step, and fix the supply at 21 million. The contract change was described as removing further minting and removing the manual burn. A burn the company announces is an operations event. After the functions are gone, a later burn is a new piece of software, not a weekly habit. Read the contract you actually hold. A 2024 blog that still quotes a larger supply is quoting the token from before that August.
Twenty-one million is a round cap. It is not Bitcoin’s issuance schedule, and it is not a statement that the price must resemble bitcoin’s. Fee discounts remain an exchange price list. They apply to an OKX account. An exchange balance is an IOU, not a wallet.
X Layer is not Ethereum, even when the address matches
X Layer is built as an Ethereum layer 2, on the OP Stack. Addresses look like Ethereum addresses, 0x and forty hex characters. The same characters on Ethereum are a different notebook. OKB on Ethereum is an ERC-20. OKB on X Layer is the native coin. Bridging between them is extra software, not a tunnel. A bridge is extra software, not a tunnel.
OKX also had an earlier chain, associated with a different token, OKT. That chain is not X Layer. A deposit screen that still offers the old network is offering a path the exchange has been shutting. Do not send to it because a withdrawal once worked. The wrong network is still the wrong city, and here the wrong network wears the same logo.
Nothing here is an instruction to buy OKB, to stake it, or to use OKX.
