OKX Takes Major Steps in Tokenomics Restructuring: Burns Billions of Tokens, Shuts Down OKT Chain

Crypto exchange OKX has implemented a series of strategic moves to reshape its tokenomics and streamline operations. It conducted a permanent burn of 278.999.999 OKB tokens, removing over $26 billion in value at current market prices. This action follows the exchange’s announcement that it will be permanently decommissioning its OKT Chain, with operations ceasing on January 1, 2026. As part of this restructuring, OKX is also updating the token’s smart contract to eliminate minting features and manual burn mechanisms.