From March 1 to May 31, 2021, OKB executed its 12th quarterly buyback and burn initiative. This round involved repurchasing and permanently destroying 2,008,753.54 OKB from secondary markets, valued at approximately $36.15 million (based on a 90-day average price). These tokens were transferred to a verified blackhole address, effectively removing them from circulation.
👉 Explore OKB's latest burn details
Background of OKB's Buyback Mechanism
Since May 4, 2019, OKEx (now OKX) has allocated 30% of spot trading fees to systematically repurchase and burn OKB—a token with a total supply of 300 million.
Key Statistics:
- Total OKB burned to date: 32,563,881.78 OKB
- Current circulating supply: 267,436,118.22 OKB
Blackhole Address: 0xff1ee8604f9ec9c3bb292633bb939321ae861b30 (Viewable on OKLink)
Historical Burn Summary
| # | Burn Round | OKB Destroyed | Timeframe |
|---|---|---|---|
| 1 | Round 12 | 2,008,753.54 | Mar 1 – May 31, 2021 |
| 2 | Round 11 | 2,006,412.69 | Dec 1, 2020 – Feb 28, 2021 |
| 3 | Round 10 | 4,060,773.48 | Sep 1 – Nov 30, 2020 |
| ... | ... | ... | ... |
Table continues with Rounds 1–9
Expanding OKB Ecosystem
1. Platform Benefits
OKB holders enjoy 15 core utilities within the OKX ecosystem, including:
- Trading fee discounts
- OKEx Jumpstart access
- Staking via OKB "Savings"
- Small-asset conversions
- Leveraged trading
👉 See full benefits of holding OKB
2. Global Use Cases
OKB is integrated across 80+ applications worldwide, spanning:
- Security Services: SlowMist, CertiK
- Finance: Molecular Future (lending), Constant
- Wallets: Ledger, Bitpie, Trust Wallet
- Payments: NOWPayments, Tripio (450,000+ hotels)
3. Trading Accessibility
OKB supports:
- Fiat gateways: USD, EUR, KRW, IDR, RUB
- Trading pairs: 60+ exchanges across 154 countries
FAQ
Q: How often does OKB burn tokens?
A: Quarterly, based on 30% of spot trading fees.
Q: Where can I track OKB burns?
A: All transactions are verifiable on-chain via the blackhole address.
Q: What’s OKB’s max supply?
A: Initially 300 million, decreasing with each burn.
Q: Can OKB be staked?
A: Yes, through OKX’s "OKB Savings" for passive income.
Disclaimer: This content is for informational purposes only. Always conduct independent research.
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