X Layer upgrade and OKT/OKB asset handling FAQ

To optimize the performance of the X Layer network and enhance the stability and circulation efficiency of OKB as the native gas token, the platform will upgrade the OKB smart contract. As part of this upgrade, OKT will be phased out and exchanged for OKB, and a one-time burn of historically repurchased and reserved OKB will be carried out.

This article outlines the implementation schedule, exchange rules, and FAQs, helping you stay informed and manage your related assets.

For details, please refer to the official announcement:

Announcement on the PP Upgrade of X Layer and Optimisation of the OKB Gas-Token Economic Model

Implementation schedule

• August 13, 2025, 2:10 PM (UTC+8)
  OKT will stop trading on the OKX exchange. OKTChain will continue producing blocks and processing on-chain transactions.

• August 13, 2025, 3:00 PM (UTC+8)
  OKX will stop supporting OKB withdrawals to Ethereum (ETH L1).

• August 15, 2025, 10:00 AM (UTC+8)
  The platform will automatically convert OKT held in users' accounts to OKB according to the exchange rules.

• August 15, 2025, 2:00 PM (UTC+8)
  Historically repurchased and reserved OKB will be permanently burned through an on-chain smart contract.

• August 18, 2025, 2:00 PM (UTC+8)
  The OKB smart contract will be upgraded to remove minting and burning functions.

FAQ

What's X Layer?

X Layer is a public blockchain, decentralized public blockchain launched by OKX. It isn't a sub-chain or dedicated chain of the OKX exchange. Anyone can deploy projects on X Layer. OKX doesn't endorse, guarantee, or take responsibility for any third-party projects deployed on X Layer. Using decentralized public blockchain projects involves risks. Please refer to the X Layer ecosystem risk disclosure and participate cautiously. OKX is not responsible for losses arising from third-party products or services on X Layer.

Has OKT been delisted? Why can't I trade it?

Due to overlapping positioning and functionality between OKTChain and X Layer, technical maintenance and circulation support for OKTChain will be gradually discontinued. Starting from August 13, 2025, 2:10 PM (UTC+8), OKT trading on the platform will stop. Any open but unfilled OKT orders will be automatically canceled.

Where did my OKT assets go?

OKT trading pairs have been delisted, so asset valuation is no longer displayed. If you hold OKT, you can still view it in your account by searching for OKT (make sure the option to hide small assets is disabled).

On August 15, 2025, at 10:00 AM (UTC+8), OKT in your account will be automatically converted to OKB according to the exchange rules. The converted OKB will then appear in your account.

How is the average closing price calculated? How much OKB will I receive?

OKT will be converted to OKB based on the average closing prices of OKT and OKB on the platform's spot market between July 13, 2025, and August 12, 2025.

How much OKB will be burned?

A one-time burn of 65,256,712.097 OKB, including historically repurchased and reserved tokens, will be executed through a smart contract. After the burn, all OKB transferred to the black hole address will be automatically burned, manual OKB burns will stop, and the total supply of OKB will be fixed at 21 million.

Will OKT deposits now also be exchanged at the same average closing price?

Yes. OKTChain will continue operating until January 1, 2026. Before this date, you can deposit OKT to the platform at any time. Deposited OKT will be automatically converted to OKB based on the same average closing price rules.

How are other on-chain assets on OKTChain handled?

OKTChain will continue operating until January 1, 2026. You should manage and withdraw other on-chain assets before this date.

How do I exchange OKT from a cold wallet for OKB?

Before January 1, 2026, you can deposit OKT from your wallet to the platform. The platform will automatically convert your OKT to OKB based on the average closing prices between July 13 and August 12, 2025.

The current price of OKB is relatively high. Why not exchange OKB for OKT at this price?

Starting from August 15, 2025, OKT held by users will be automatically converted to an equivalent amount of OKB based on the average closing prices of OKB and OKT on the platform from July 13 to August 12, 2025. This approach helps avoid unfair conversions caused by short-term price fluctuations and ensures equal treatment for all users.

Is there still a relationship between OKB and the OKX exchange?

OKB is the native gas token of the X Layer public blockchain and is used to pay on-chain gas fees. X Layer is an open and decentralized public blockchain launched by OKX and isn't limited to serving the OKX exchange.

Can OKB be used to offset exchange trading fees?

No. OKB can't be used to offset exchange trading fees, and holding OKB doesn't affect fee discount tiers.