OKX, a prominent cryptocurrency exchange, has made a significant move to revamp its tokenomics model. This bold initiative resulted in an impressive surge of price for its ecosystem altcoin, OKB. The coin’s value increased by 170% in a single day, reaching as high as $137 before settling at $118.04. The primary driver behind this increase is the exchange’s plan to execute a one-time burn of 65.26 million OKB tokens, previously acquired through company buybacks, effectively capping the total supply at 21 million tokens. Further enhancing their initiative, OKX is currently working on refining its smart contracts and exploring blockchain applications for further growth.