OKB

OKB is the token of OKX, one of the large centralised exchanges, founded in China and later relocated. It began as a contract on Ethereum, and within the exchange it grants trading-fee discounts and access to certain launch programmes. The discount depends on turnover and on the balance held, so the privilege is computed by one company's rules.

Its second role is X Layer, a network the same exchange develops, where OKB acts as the gas coin — a link between an exchange token and blockchain infrastructure, and a use that does not depend on a trading account.

Historically the issuer bought back and destroyed part of the supply on a recurring basis. Such decisions come from the exchange rather than from open governance among holders, and that is the essential difference between an exchange token and a protocol token: the holder is exposed to the commercial policy and regulatory standing of one organisation, and supply history has to be read from its announcements.

OKB's usefulness is set by the exchange rather than by holders: both privileges and supply reductions are company decisions.