Background Supplement: OKX Announces Expansion into the United States! A Regional Headquarters Will Be Established in California
According to the announcement from the OKX exchange, the economic model of its platform token OKB will undergo an upgrade. OKB will continue to serve as the sole Gas and Native Token for X Layer. The OKB (Ethereum L1 version) will gradually cease to be used. In the future, the OKX exchange will no longer support the withdrawal of OKB to Ethereum L1.
OKX will conduct a one-time destruction of the historical repurchases and the reserved 65,256,712.097 OKB, and will automatically destroy all OKB transferred to the black hole address using smart contracts. The total issuance of OKB will be fixed at 21 million tokens.
As a result of this incentive, OKB surged from the $50 level to $134 within 10 minutes, setting a new historical high with an increase of over 160%.
