OKX New Blockchain Ignites the Market

On August 13, OKX officially announced that it will strategically upgrade X Layer, aiming to build it as a leading public blockchain focused on DeFi, payments, and RWA scenarios, while significantly burning OKB, with the total supply fixed at 21 million tokens.

After the announcement, OKB surged, reaching a high of over $140 before retreating, with a daily increase of 125%. The market reaction is clearly reflected in the price movement.

This X Layer upgrade combines several key value drivers of OKB, creating a dual benefit of supply contraction and demand surge.

1. Supply locked in: A one-time burn of 65.25 million OKB tokens, with the total supply fixed at 21 million, entering a "Bitcoin-like" deflationary model.

2. Demand binding: OKB becomes the sole Gas Token on X Layer, essential for transactions, payments, and applications. OKT is delisted, concentrating demand on OKB.

3. Scenario acceleration: Focusing on DeFi, payments, and RWA, high-frequency transactions consume significant amounts, with ecosystem funds and zero gas withdrawal accelerating user migration.

4. Emotional push: The burn date is set for August 15, creating a scarcity signal and timeline, easily triggering FOMO and early buying.

In short: Supply locked, demand booming, scenario acceleration, and emotional support—OKB's value logic has been fully maximized.

Current Status of XLayer Ecosystem

The current on-chain ecosystem mainly consists of multi-chain DApps, primarily concentrated in DEXs and infrastructure.

There are relatively few native DApps, but according to data, there are about 30 active ones. Additionally, hundreds of new projects are entering the market, mainly in infrastructure, lending, ecosystem tools, and payment-related areas.

From on-chain data, the total value locked (TVL) has declined since last year's peak of 10M, stabilizing around 5M. With the recent positive news, the TVL has grown rapidly, placing it behind 120th among all public blockchains. If OKX continues its development as planned, there is great potential for growth in TVL, and a large influx of funds will enrich the ecosystem.

Looking at transaction volume, before the August 13 announcement, daily transactions were maintained below 1,000. Now, with the chain becoming popular, the 24H transaction volume has reached over 140,000.

Overall, the on-chain ecosystem is currently quite bleak, with insufficient DeFi facilities such as lending and derivatives, lack of cross-chain infrastructure, and difficulties in fund inflow. After the hype, the first MEME launchpad was extremely rough, providing a poor user experience.

New Xlayer Holds New Opportunities?

Future Analysis of OKB:

In previous articles, we have discussed that OKX may be preparing for an IPO. Whether it was the previous financial compliance or the current separation of OKB business, these are all aimed at clearing obstacles for future listing.

If OKX wants to go public, it must properly position OKB, transforming it into a dedicated token for XLayer, making it a widely used token in the on-chain economic system. This will play a decisive role in the SEC's Howey Test (Howey Test) for future regulatory compliance regarding securities definitions.

Currently, OKX's market cap is $2 billion. For comparison, BNB is $100 billion, and BGB is $5 billion. However, OKB has already lost dividend and new listing rights, so comparing platform coin market caps is no longer necessary. Subsequently, more attention should be paid to the impact of the on-chain ecosystem on OKB.

Ecosystem Opportunities:

On the night of the announcement, a large amount of funds flowed into the XLayer chain. DYOR launchpad captured the first wave of benefits, with its leader Xdog reaching a market cap close to 3, showing high popularity. However, it was later revealed that the launch contained a "Pigu" token, reflecting the various shortcomings of the new platform and new chain.

With the arrival of many projects, MEME projects that bring traffic and hot topics can be watched, as well as various new launchpads on new chains, which often have strong leadership and profit effects. XLayer is sure to attract more participants in the coming days.

Early projects in the new ecosystem often come with high subsidies and activities, such as liquidity mining, on-chain staking arbitrage, and other strategies.

Finally, the opportunities in airdrops should not be missed. The rise of native DApps will inevitably trigger many new airdrop opportunities on this chain.