• OKX has completed their 20th quarterly burn, burning nearly 5.5 million OKB tokens.
• The Buy-Back and Burn program was launched in May 2019 and repurchases OKB from the original supply every three months.
• The total number of OKB tokens bought back and burned is 64,042,314.70 OKB with roughly 35,957,685 OKB currently in circulation.

OKX Completes 20th Quarterly Burn

Seychelles-based cryptocurrency exchange OKX has implemented the 20th round of its Buy-Back and Burn program, burning nearly 5.5 million OKB tokens this time. According to a blog post, the total number of OKB tokens bought back from the secondary market and burned was 5,497,312.77, worth $258 million at a 90-day average.

Launching the Buy-Back Program

The crypto exchange launched the Buy-Back and Burn program in May 2019 with an original supply of 300 million tokens that were repurchased every three months from the secondary market. The buyback has no specific rules but depends on seasonal market performance as well as operating performance.

20th Round Buy Back & Burn

The most recent round took place between March 1st and May 31st of 2023 with a total number of 5,497,312.77 OKBs being burnt – worth $258 million at a 90 day average price point. This makes it the third largest burn in history after rounds five (6 Million) & six (nearly 6 Million).

Future Improvements & Commitment to Users

OKX is committed to offering better services to users by continuing to cultivate a strong connection with global supporters by listening to their feedback for future improvements going forward into 2024+.

Current Circulation Status

As of today’s date there are roughly 35,957,685 still remaining in circulation out of an original 300 Million meaning that roughly 64 Million have been destroyed since inception