OKX and its X Layer network announced a major technology upgrade, changes to the token model, and a plan to retire OKT.
The PP upgrade was completed on Aug. 5, 2025. OKT trading will stop on Aug. 13, 2025, while OKTChain will remain live until Jan. 1, 2026. The changes affect X Layer and the OKX Exchange and will impact users worldwide.
OKX says the aim is a faster, cheaper chain that focuses on DeFi, payments and real-world asset use. The company will do this by integrating the latest Polygon CDK, shifting OKB’s role as the native gas token, and moving liquidity and services onto X Layer.
Upgrade details
OKX said X layer has finished the so-called PP upgrade, and the upgrade adopts the latest Polygon CDK. OKX says the chain can now process 5,000 transactions per second.
The company added that gas costs are now negligible. It also said security and compatibility with the Ethereum mainnet are improved.
The firm plans to push the network toward DeFi, payments and real-world asset projects. OKX will create an ecosystem fund and liquidity incentives. It will also improve bridges, oracles and compliance tools to speed app launches.
Token model and supply change
OKB will remain the native gas token for X Layer, and OKX said it will phase out the Ethereum L1 version of OKB. Holders should deposit Ethereum L1 OKB to OKX and use the Withdrawal to X Layer feature. OKX will no longer support future ETH L1 withdrawals.
The announcement includes a one-time cleaning of 65,256,712.097 OKB from historical repurchases and treasury reserves.
OKX will burn that supply and switch to an automatic smart contract burn for tokens sent to the black hole address. After the operation, the total OKB supply will be fixed at 21,000,000.
Contract upgrades will follow, and OKX plans to remove minting and burning functions from the OKB smart contract once the burn and supply fix are complete.
OKT decommissioning and conversions
Because OKTChain overlaps with X Layer, OKX will wind down support for OKTChain. The exchange will stop OKT trading on August 13, 2025, and any open orders not withdrawn by then will be cancelled.
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From August 15, 2025, OKX will automatically convert OKT into OKB. The exchange will use the Average Closing Price of OKB and OKT on OKX from July 13, 2025, to August 12, 2025, to set the conversion rate.
On-chain OKT holders can deposit their tokens to OKX before that date and have them periodically converted into OKB at the same average price.
OKX said the X Layer will be fully integrated with OKX Wallet. That will let users access the lower gas costs and faster on-chain activity through the wallet.
The exchange will add a 0 Gas fast withdrawal option. This feature aims to enable one-click gasless withdrawals and transfers of USDT and other major assets using X Layer.
OKX Pay will adopt X Layer as its default public chain. The firm said this will speed payment settlements and cut costs for merchants and users.
$OKB Price Actions
OKB’s market moves were fast, and the price jumped to $119.07 on the day of the update, up 158.45% in 1 day.
Market cap rose to $7.14 billion while trading volume shot up roughly 11,424.87% to about $64 million over 24 hours. The surge reflects strong interest from traders and speculators following the token and network changes.
OKX’s CEO, Star, also signalled progress on payments, saying that Apple Pay is now available on the OKX European site. The CEO said the payment method is fully integrated and supports one-click purchases for users in the US and the European Economic Area.
Investors and developers will watch how quickly projects migrate to X Layer. The success of liquidity incentives and the ecosystem fund will matter.
Regulators and partners will also test how well the new rules and compliance upgrades hold up in practice.
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