The OKB has successfully concluded the 20th round of its Buy-Back & Burn program, which took place from March 1st, 2023, to May 31st, 2023. During this round, a total of 5,497,312.77 $OKB tokens were repurchased and burned from the secondary market. This figure is approximately equivalent to $258 million, calculated based on a 90-day average price.
The Buy-Back & Burn program for OKB tokens was initially introduced on May 4, 2019. As part of this initiative, OKX, the cryptocurrency exchange behind OKB, repurchases OKB tokens from the original supply of 300,000,000 OKB every three months. The decision to repurchase tokens is influenced by the seasonal market conditions and operational performance. The repurchased tokens are then sent to a burning address, ensuring they are permanently removed from circulation and inaccessible.
To date, a total of 64,042,314.70 OKB tokens have been burned through this ongoing program. As a result, the current circulating supply of OKB stands at 235,957,685.30 OKB tokens.
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