According to OKX’s official statement, over 90% of Ethereum L1 OKB tokens have been swapped as part of a move to make OKB the native gas token for its multi-chain X Layer ecosystem.
OKX announced that over 90% of OKB tokens on Ethereum Layer 1 have completed the migration under its August 13 upgrade initiative. The upgrade transitions OKB into a native gas token within a new multi-chain model and positions it as the core gas asset for X Layer—a flexible Layer-2 ecosystem aiming to connect OKX with the Ethereum community. The migration is designed to enhance utility and scalability in line with OKX’s vision of bringing all assets and applications on-chain.