From what I see, OKX now presents its OKB token as just a gas fee token of their L2 blockchain "X Layer".

Does the exchange itself distance itself from it?

Is it somehow connected to its expansion to the USA and recent investment from NYSE?


Source: https://web3.okx.com/xlayer

As per the link: "OKB is X Layer’s native gas token, the key to the blockchain’s operations and governance".


Here's an interesting but unofficial article that doesn't cite any official source though: https://www.cube.exchange/what-is/okb

As per the link: "OKB is the token most closely tied to the OKX ecosystem, but its economic center of gravity has changed. For years, exchange-token demand was often framed around fee discounts, buybacks, and platform perks. With OKB, the clearer current lens is that OKX has been repositioning it as the native gas token of X Layer, while also shrinking supply dramatically and fixing that supply at 21 million."


I'm very interested in the multi-year strength of the OKB/USDT chart but frustrated by the fundamental uncertainty.

They are trying to follow Binance's BNB it seems, giving additional utility to their own token but maybe at smaller scale. Basically what happen is

Binance launchpool - OKX jumpstart

Binance Hodler airdrops - X Drops club

Binance Launchpad - OKX jumpstart subscription

Binance Smart Chain - OKX's X layer

All of them involves OKB. Fairly speaking, many centralized exchange have adopted binance's approach for their exchange coin and it's not only OKX.

All of OKX services are involving their OKB tokens. So it seems you have not yet explored enough what's utilities owned by OKB. Even mine often used OKB to farm the launcpool, and get the yield. So i think your judgement is being provided with no strong proof.

OKB is still strongly tied to the OKX exchange site. OKB is basically all in one token. It's serving as a key to get various advantages from the platform.

So there's no distance between OKB and OKX. These things are still linked each other.

Ah, and of course now it is pumping.
I knew I should have purchased it that day.
Bamboozled myself into skipping it




The reason for the pump: OKX's X Layer launches Exchange OS, allowing users to create custom crypto markets (https://www.theblock.co/post/402505/okx-x-layer-exchange-os)

Yeah definitely have seen this strategy somewhere, maybe soon they will create user deployed prediction market as well.
But whatever it is as long as their holder getting the most benefit, I guess good for them. Maybe this coin is worth holding after all.

Isn't this token going high this cycle because supply slashed by 50%?
If that is the case, it's expected that they will pump but not really a true indicator of bullishness because the new all time high could be coming from them playing with supply? Even though I admit that OKB has been having a good run.

In this case, the chart is good but should take into account the supply slashing to make it more accurate.

One rare case where burning tokens actually pump it to arguably a significant degree I guess (if the chart holds). I've seen to many token burned their supply with a 10% pump then nosedive sooner or later. I guess you could argue they don't have the same strength as one of the biggest international exchange "native" token.

I can't remember the last time I used OKX (back then it was OKEX). Is picking 21 million simply for marketing or is there any technical reason why going lower won't be good for them?

Binance and Bybit operate similar schemes where their exchange tokens are also used as native token for their respective networks so why do you think it would be any different with OKB? As long as they haven't explicitly come out to say that they are no longer affiliated with the token then I think it's the usual case. The only thing that changed fundamentally wad that they did a token split or reduced the supply. I've forgotten which happened exactly but i think that's the only thing that changed.

Binance uses BNB as network token for bnbchain and for fee discount on binance itself. Same with MNT on bybit.

Maybe that is their way of countering the negative news. 50 percent was a lot though and so lucrative for the investors. So I think yeah, there is truly a possibility for them to retain their positive streak. Pump and bullishness are both the same though even though their terms are different, and a new ATH can truly or also come from them.

I include the word 'also' because we can't just ignore the opposite market direction but they have their own contributions too on creating the other side of building/market. If you mean by 'them' is the team, I think that is also possible because they own the project and they can dictate what can happen to it next.

I think it's more about OKX trying to create a headline in the bullish market, the slash occurred around the time when BNB is skyrocketing and reach another all time high.
OKX want same exposure to OKB and decide to slash supply, it worked. What I mean by indicator of bullishness is the chart should be adjusted for the slash, the sudden pump might look a pump but if the pump was caused by slash the market is just adjusting rate not valuation increase.