White Paper Report


			..
	White paper for crypto-assets other than asset-referenced tokens or e-money tokens

	Digital Token Identifier:	605NMSTKP
	Operator of the trading platform:	54930069NLWEIGLHXU42 - OKX Europe Limited
	Type of submission:	New

Table of content
General information
SUMMARY
Part A - Information about offeror or person seeking admission to trading
Part B - Information about issuer, if different from offeror or person seeking admission to trading
Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
Part D - Information about other token project
Part E - Information about offer to public of other tokens or their admission to trading
Part F - Information about other tokens
Part G - Information on rights and obligations attached to other tokens
Part H – Information on underlying technology
Part I - Information on risks
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts




[Table 2] Template for white papers for crypto-assets other than asset-referenced tokens or e-money tokens

Template for white papers for crypto-assets other than asset-referenced tokens or e-money tokens [abstract]
General information
00 Table of content	boolean true	true
01 Date of notification	date	2026-01-27
02 Statement in accordance with Article 6(3) of Regulation (EU) 2023/1114	boolean true	This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The operator of the trading platform of the crypto-asset is solely responsible for the content of this crypto-asset white paper.
03 Compliance statement in accordance with Article 6(6) of Regulation (EU) 2023/1114	boolean true	This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 of the European Parliament and of the Council and, to the best of the knowledge of the management body, the information presented in the crypto-asset white paper is fair, clear and not misleading and the crypto-asset white paper makes no omission likely to affect its import.
04 Statement in accordance with Article 6(5), points (a), (b), (c), of Regulation (EU) 2023/1114	boolean true	The crypto-asset referred to in this crypto-asset white paper may lose its value in part or in full, may not always be transferable and may not be liquid
05 Statement in accordance with Article 6(5), point (d), of Regulation (EU) 2023/1114	boolean true	The utility token referred to in this white paper may not be exchangeable against the good or service promised in this white paper, especially in the case of a failure or discontinuation of the crypto-asset project.
06 Statement in accordance with Article 6(5), points (e) and (f), of Regulation (EU) 2023/1114	boolean true	The crypto-asset referred to in this white paper is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council or the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.
SUMMARY
07 Warning in accordance with Article 6(7), second subparagraph, of Regulation (EU) 2023/1114	boolean true	Warning This summary should be read as an introduction to the crypto-asset white paper. The prospective holder should base any decision to purchase this crypto –asset on the content of the crypto-asset white paper as a whole and not on the summary alone. The offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to the applicable national law. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council or any other offer document pursuant to Union or national law.
08 Characteristics of the crypto-asset	textBlock	OKB is a utility token that functions as the native gas token of the X Layer network. The token is issued on the Ethereum blockchain (ERC-20) and is natively integrated into the X Layer, a ZK-powered Layer 2 network. Following a strategic update in August 2025, the token has a fixed total supply of 21,000,000 OKB, with no further minting or burning capabilities.
09 Further information about utility tokens	textBlock	The OKB token is a utility token that provides users gas payment capabilities on the X Layer network. The OKB token is freely and instantly transferable, utilising the underlying blockchain network's standard processes.
10 Key information about the offer to the public or admission to trading	textBlock	This whitepaper is published solely in connection with the admission to trading of the OKB token on licenced trading platforms, including but not limited to OKX Europe Limited's trading platform. There has been no offer of the crypto-asset to the public, and the crypto-asset has not been made available in exchange for fiat currency or other crypto-assets prior to its listing. The crypto-asset will be admitted to trading via various authorised crypto-asset service providers ("CASP") operating within the European Union and other licenced trading platforms. The trading admission does not involve any subscription, sale, or fundraising process. The purpose of this document is to provide key information regarding the characteristics of the crypto-asset, its governance, rights, and associated risks, to enable informed decision-making by users and market participants in the context of its admission to trading. Access to the crypto-asset on the trading platform may be subject to user verification, platform conditions, or applicable legal restrictions depending on the jurisdiction.
Part A - Information about offeror or person seeking admission to trading
A.1 Name	N/A		.
A.2 Legal form	N/A		.
A.3 Registered address
Registered addess	N/A		.
Country	N/A		.
Sub-division	N/A		.
A.4 Head office
Head office	N/A		.
Country	N/A		.
Sub-division	N/A		.
A.5 Registration date	N/A		.
A.6 Legal entity identifier	N/A		.
A.7 Another identifier required pursuant to applicable national law	N/A		.
A.8 Contact telephone number	N/A		.
A.9 E-mail address	N/A		.
A.10 Response time (days)	N/A		.
A.11 Parent company	N/A		.
A.12 Members of the management body
Member #1	N/A		.
Identity	N/A		.
Business address	N/A		.
Function	N/A		.
A.13 Business activity	N/A		.
A.14 Parent company business activity	N/A		.
A.15 Newly established	N/A		.
A.16 Financial condition for the past three years	N/A		.
A.17 Financial condition since registration	N/A		.
Part B - Information about issuer, if different from offeror or person seeking admission to trading
B.1 Issuer different from offerror or person seeking admission to trading	boolean	true
B.2 Name	text	Aux Cayes FinTech Co. Ltd.
B.3 Legal form	text	See B.7
B.4 Registered address
Registered addess	text	See B.7
Country	enumeration	Seychelles
Sub-division	text	N/A
B.5 Head office
Head office	text	See B.7
Country	enumeration	Seychelles
Sub-division	text	N/A
B.6 Registration date	date	2018-03-07
B.7 Legal entity identifier	LEI	254900WGPGQAMNAJGJ98
B.8 Another identifier required pursuant to applicable national law	text	202706
B.9 Parent company	text	OKX Global Holding Company Limited
B.10 Members of the management body
Member #1	id	1
Identity	text	Kui Kong Jason Lau
Business address	text	Suite 202, 2nd Floor, Eden Plaza, Eden Island, PO Box 1352, Mahe, Seychelles
Function	text	Chief Innovation Officer
Member #2	id	1
Identity	text	Chi Hoi Lai
Business address	text	Suite 202, 2nd Floor, Eden Plaza, Eden Island, PO Box 1352, Mahe, Seychelles
Function	text	Chief Commercial Officer
B.11 Business activity	textBlock	International Business Company
B.12 Parent company business activity	textBlock	International Business Company
Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
C.1 Name	text	OKX Europe Limited
C.2 Legal form	text	Limited Liability Company
C.3 Registered address
Registered address	text	Piazzetta Business Plaza, Office Number 4, Floor 2, Triq Ghar il-Lembi, Sliema SLM1562, Malta
Country	enumeration	Malta
Sub-division	text	N/A
C.4 Head office
Head office	text	See C.4
Country	enumeration	Malta
Sub-division	text	N/A
C.5 Registration date	date	2018-09-07
C.6 Legal entity identifier	LEI	54930069NLWEIGLHXU42
C.7 Another identifier required pursuant to applicable national law	text	C 88193
C.8 Parent company	text	OKC International Holding Company Limited
C.9 Reason for crypto-asset white paper preparation	textBlock	This crypto-asset whitepaper has been prepared in accordance with Regulation (EU) 2023/1114 (MiCA) for the purpose of: - The admission to trading of OKB on regulated platforms, starting with the OKX Exchange. OKX Europe Limited as a result of being a licenced CASP endeavours to fulfill the obligations established under MiCA and the respective MFSA guidelines to: - Notify this whitepaper to the MFSA; - Publish the whitepaper publicly; - And ensure its registration in the MiCA register maintained by the European Securities and Markets Authority (ESMA). This whitepaper has been prepared to provide transparent, accurate, and fair information to prospective token holders and regulatory authorities in line with the principles of MiCA.
C.10 Members of the management body
Member #1	id	1
Identity	text	Erald Henri J. Ghoos
Business address	text	See C.4
Function	text	Director
Member #2	id	2
Identity	text	Fang Hong
Business address	text	See C.4
Function	text	Director
Member #3	id	3
Identity	text	Joseph Portelli
Business address	text	See C.4
Function	text	Director
Member #4	id	4
Identity	text	Wei Man Cheung
Business address	text	See C.4
Function	text	Director
C.11 Operator business activity	textBlock	OKX Europe Limited is licensed as a Crypto-Asset Service Provider by the Malta Financial Services Authority, bearing licence number OEUR-24352, to provide crypto services under the Markets in Crypto-Assets Act, Chapter 647, Laws of Malta and is the operator of a Trading Platform for Crypto Assets, in accordance with Article 3(1)(18) of Regulation (EU) 2023/1114 (MiCA).
C.12 Parent company business activity	textBlock	N/A
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	text	N/A
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	text	N/A
Member #2	id	2
C.12 Parent company business activity	N/A		.
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
Member #3	id	3
C.12 Parent company business activity	N/A		.
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
Member #4	id	4
C.12 Parent company business activity	N/A		.
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
Part D - Information about other token project
D.1 Crypto-asset project name	text	OKX Ecosystem
D.2 Crypto-asset name	text	See F.13
D.3 Abbreviation	text	See F.13
D.4 Crypto-asset project description	textBlock	The Crypto-Asset Project refers to the development and maintenance of the X Layer, a ZK-powered Layer 2 blockchain built with Polygon CDK, where OKB serves as the native gas token. The project aims to bridge centralized and decentralized finance, providing infrastructure that empowers users to trade, manage, and grow their digital asset portfolios.
D.5 Details of all natural or legal persons involved in implementation of crypto-asset project
Person #1	id	1
Type of person	enumeration	Development team
Name of person	text	Owen Zhang
Business address of person	text	Suite 202, 2nd Floor, Eden Plaza, Eden Island, Victoria, Mahe, Seychelles
Domicile of company	enumeration	Seychelles
Person #2	id	2
Type of person	enumeration	Development team
Name of person	text	Kami Ye
Business address of person	text	Suite 202, 2nd Floor, Eden Plaza, Eden Island, Victoria, Mahe, Seychelles
Domicile of company	enumeration	Seychelles
Person #3	id	3
Type of person	enumeration	Development team
Name of person	text	Xzaviar Yuan
Business address of person	text	Suite 202, 2nd Floor, Eden Plaza, Eden Island, Victoria, Mahe, Seychelles
Domicile of company	enumeration	Seychelles
Person #4	id	4
Type of person	enumeration	Development team
Name of person	text	Louis Liu
Business address of person	text	Suite 202, 2nd Floor, Eden Plaza, Eden Island, Victoria, Mahe, Seychelles
Domicile of company	enumeration	Seychelles
Person #5	id	5
Type of person	enumeration	Development team
Name of person	text	Cliff Yang
Business address of person	text	Suite 202, 2nd Floor, Eden Plaza, Eden Island, Victoria, Mahe, Seychelles
Domicile of company	enumeration	Seychelles
Person #6	id	6
Type of person	enumeration	Development team
Name of person	text	Dumitrel Loghin
Business address of person	text	Suite 202, 2nd Floor, Eden Plaza, Eden Island, Victoria, Mahe, Seychelles
Domicile of company	enumeration	Seychelles
D.6 Utility token classification	boolean	true
D.7 Key features of goods or services for utility token projects	text	The OKB token serves as a utility token on X Layer and allows users to pay for gas fees on the X Layer network.
D.8 Plans for the token
Description of past milestones	textBlock	The OKB token was originally launched on the OKX exchange in 2018 and later on the Ethereum mainnet in 2019. A defining milestone occurred on March 30, 2025, when the project launched the X Layer mainnet and designated OKB as its native gas token. Concurrently, the issuer executed a strategic burn of approximately 65 million tokens and permanently capped the total supply at 21,000,000 OKB, effectively transitioning the token to a fixed-scarcity model.
Description of future milestones	textBlock	X Layer has a roadmap that focuses on the expansion of X Layer's decentralized finance (DeFi) landscape. Future developments include the integration of advanced cross-chain interoperability protocols within the Polygon AggLayer to deepen liquidity, the onboarding of institutional-grade decentralized applications (dApps), and the continued enhancement of OKB's utility as the unified gas and utility asset for the ecosystem.
D.9 Resource allocation	text	The token OKB, on March 19, 2018, was originally distributed as a complimentary utility token to users who participated in the "OKEx Token Trading Loyalty Program". The complimentary token was provided as following the successful subscription to pre-paid trading fee packages. Various packages were made available to users to receive a corresponding allocation of OKB. The distribution was conducted in three phases with varying allocation rates per package and utilized a drawing system for allotment until the subscription limit was reached.
D.10 Planned use of collected funds or other tokens	text	Funds and assets associated with the project are used to support the operational costs of the platform, marketing initiatives, and the development of the X Layer ecosystem.
Part E - Information about offer to public of other tokens or their admission to trading
E.1 Public offering or admission to trading	enumeration	Admission to trading
E.2 Reasons for public offer or admission to trading	textBlock	Facilitating secondary trading for users on the OKX Trading platform in compliance with the MiCA regulatory framework.
E.3 Fundraising target
Target expressed in currency	monetary	0	EUR
Target expressed in units	decimal	0
Target expressed in digital token identifier	text	N/A
E.4 Minimum subscription goals
Goals expressed in currency	monetary	0	EUR
Goals expressed in units	decimal	0
Goals expressed in digital token identifier	text	N/A
E.5 Maximum subscription goals
Goasl expressed in currency	monetary	0	EUR
Goals expressed in units	decimal	0
Goals expressed in digital token identifier	text	N/A
E.6 Oversubscription acceptance	boolean	false
E.7 Oversubscription allocation	text
Issue price details
E.8 Issue price	decimal
E.9 Official currency determining issue price	enumeration
E.9 Any other tokens determining issue price	text
E.10 Subscription fee
Fee expressed in currency	monetary	0	EUR
Fee expressed in units	decimal	0
Fee expressed in digital token identifier	text	N/A
E.11 Offer price determination method	text	N/A
E.12 Total number of offered or traded other tokens	integer	21000000
E.13 Targeted holders	enumeration	All types of investors
E.14 Holder restrictions	text	N/A
E.15 Reimbursement notice	boolean true	N/A
E.16 Refund mechanism	textBlock	N/A
E.17 Refund timeline	text	N/A
E.18 Offer phases	textBlock	N/A
E.19 Early purchase discount	textBlock	N/A
E.20 Time-limited offer	boolean	false
E.21 Subscription period beginning	date
E.22 Subscription period end	date
E.23 Safeguarding arrangements for offered funds or other tokens	textBlock	N/A
E.24 Payment methods for other token purchase	textBlock	In line with OKX current payment method offering.
E.25 Value transfer methods for reimbursement	textBlock	N/A
E.26 Right of withdrawal	textBlock	N/A
E.27 Transfer of purchased other tokens	textBlock	In line with OKX current Terms of Service.
E.28 Transfer time schedule	text	N/A
E.29 Purchaser's technical requirements	textBlock	In line with OKX current Terms of Service.
Other token services provider characteristics
E.30 Other token service provider (CASP) name	text	OKX Europe Limited
E.31 CASP identifier	LEI	54930069NLWEIGLHXU42
E.32 Placement form	enumeration	Not applicable
Trading platforms characteristics
E.33 Trading platforms name	text	OKX
E.34 Trading platforms market identifier code (MIC)	text	N/A
E.35 Trading platforms access	text	Users may access OKB through the OKX Trading Platform via the Application Program Interface ("API"), the Application Software ("OKX App"), as well as the official OKX website as follows; www.okx.com.
E.36 Involved costs	textBlock	In line with the OKX current Terms of Service.
E.37 Offer expenses	textBlock	N/A
E.38 Conflicts of interest	textBlock	A crypto-asset is listed following a decision rendered independently by the Listing Committee in line with the internal policies of OKX Europe Limited. Any potential disclosures that may arise of conflicts of interest are published on the OKX website.
E.39 Applicable law	textBlock	Malta
E.40 Competent court	textBlock	Malta
Part F - Information about other tokens
F.1 Crypto-asset type	text	Other Crypto-Asset.
F.2 Other token functionality	textBlock	The OKB token serves as a utility token on X Layer and allows users to pay for gas fees on the X Layer network.
F.3 Planned application of functionalities	textBlock	All functionalities from the above specified list apply as of the writing of this whitepaper.
A description of the characteristics of the other token, including the data necessary for classification of the crypto-asset white paper in the register referred to in Article 109 of Regulation (EU) 2023/1114, as specified in accordance with paragraph 8 of that Article
F.4 Type of crypto-asset white paper	enumeration	Other crypto-asset token white paper
F.5 Type of submission	enumeration	New
F.6 Other token characteristics	textBlock	The OKB token is a fungible utility token issued on the Ethereum blockchain under the ERC-20 standard and natively integrated into the X Layer network. It is freely transferable, does not confer ownership or profit rights, and operates on a fixed supply model with a maximum total supply of 21,000,000 OKB. The token's smart contract has been upgraded to remove minting and burning functions, ensuring a permanently fixed scarcity.
F.7 Commercial name or trading name	text	See F.13
F.8 Website of the issuer	text	https://www.okx.com/
F.9 Starting date of offer to the public or admission to trading	date	2026-02-24
F.10 Publication date	date	2026-02-24
F.11 Any other services provided by the issuer	textBlock	The Issuer, in conjunction with its affiliated operating entities, provides a comprehensive suite of crypto-asset services. These include the operation of a centralized trading platform offering spot, margin, and derivatives trading; a non-custodial Web3 wallet service; yield-generating products under 'OKX Earn'; and the 'OKX Jumpstart' token launchpad.
F.12 Language or languages of white paper	text	English
F.13 Digital token identifier code used to uniquely identify the crypto-asset or each of the several crypto assets to which the white paper relates, where available	text	605NMSTKP
F.14 Functionally fungible group digital token identifier, where available	text	ZFHMD8JNR
F.15 Voluntary data flag	boolean	false
F.16 Personal data flag	boolean	true
F.17 LEI eligibility	boolean	true
F.18 Home member state	enumeration	Malta
F.19 Host member states #1	enumerationSet	Austria
F.19 Host member states #2	enumerationSet	Belgium
F.19 Host member states #3	enumerationSet	Bulgaria
F.19 Host member states #4	enumerationSet	Croatia
F.19 Host member states #5	enumerationSet	Cyprus
F.19 Host member states #6	enumerationSet	Czechia
F.19 Host member states #7	enumerationSet	Denmark
F.19 Host member states #8	enumerationSet	Estonia
F.19 Host member states #9	enumerationSet	Finland
F.19 Host member states #10	enumerationSet	France
F.19 Host member states #11	enumerationSet	Germany
F.19 Host member states #12	enumerationSet	Greece
F.19 Host member states #13	enumerationSet	Hungary
F.19 Host member states #14	enumerationSet	Iceland
F.19 Host member states #15	enumerationSet	Ireland
F.19 Host member states #16	enumerationSet	Italy
F.19 Host member states #17	enumerationSet	Latvia
F.19 Host member states #18	enumerationSet	Liechtenstein
F.19 Host member states #19	enumerationSet	Lithuania
F.19 Host member states #20	enumerationSet	Luxembourg
F.19 Host member states #21	enumerationSet	Malta
F.19 Host member states #22	enumerationSet	Netherlands
F.19 Host member states #23	enumerationSet	Norway
F.19 Host member states #24	enumerationSet	Poland
F.19 Host member states #25	enumerationSet	Portugal
F.19 Host member states #26	enumerationSet	Romania
F.19 Host member states #27	enumerationSet	Slovakia
F.19 Host member states #28	enumerationSet	Slovenia
F.19 Host member states #29	enumerationSet	Spain
F.19 Host member states #30	enumerationSet	Sweden
Part G - Information on rights and obligations attached to other tokens
G.1 Purchaser rights and obligations	textBlock	There are no obligations attached for/of the purchaser. OKB token holders have the right to access specific utility services on X Layer and the ability to pay for transaction fees on the X Layer. Ownership of the token does not grant any claim to profits, dividends, or assets of the issuer.
G.2 Exercise of rights and obligations	textBlock	As the token does not grant obligations, there is no conceivable way to exercise such obligations. Purchasers can exercise the rights afforded to them by interacting with the X Layer network. For example, gas payments are deducted automatically when transacting on the L2 network.
G.3 Conditions for modifications of rights and obligations	textBlock	As the token does not grant obligations, there are no conditions under which the obligations may be modified. Modifications of rights associated with the Token may be determined by the Issuer. For the parameters to be adjusted the Issuer shall notify accordingly, and adjustments may be made based on operational requirements or ecosystem development strategies.
G.4 Future public offers	textBlock	N/A
G.5 Issuer retained other token	integer	0
G.6 Utility token classification	boolean	true
G.7 Key features of goods or services utility tokens	text	The OKB token serves as a utility token on X Layer and allows users to pay for operational purposes (e.g., liquidity provision) gas fees on the X Layer network.
G.8 Utility tokens redemption	text	OKB tokens are not redeemed in the traditional sense of exchanging for a fixed good or service from the issuer. Instead, they are spent as gas to execute smart contract transactions on the X Layer. The token functions as an access key and medium of exchange within X Layer rather than a redeemable voucher.
G.9 Non-trading request	boolean	true
G.10 Other tokens purchase or sale modalities	text	N/A
G.11 Other tokens transfer restrictions	text	In line with OKX current Terms of Service.
G.12 Supply adjustment protocols	boolean	false
G.13 Supply adjustment mechanisms	text	N/A
Other token schemes details
G.14 Token value protection schemes	boolean	false
G.15 Token value protection schemes description	textBlock	N/A
G.16 Compensation schemes	boolean	false
G.17 Compensation schemes description	textBlock	N/A
G.18 Applicable law	textBlock	Malta
G.19 Competent court	textBlock	Malta
Part H – Information on underlying technology
H.1 Distributed ledger technology (DTL)	text	See F.13
H.2 Protocols and technical standards	text	The OKB token is implemented across multiple blockchains, adhering to the native token standards of each respective network to ensure interoperability and functionality. Ethereum (ERC-20): The OKB token is implemented using the ERC‑20 token standard on the Ethereum blockchain. ERC‑20 is the widely adopted standard for fungible tokens on Ethereum, defining a common interface for token issuance, transfers, and third-party integrations. ERC‑20 tokens are deployed via smart contracts that control total supply, balances, and permissions, and are compatible with Ethereum wallets, DeFi applications, and decentralized exchanges. The standard supports functions such as transfer, approve, mint, and burn, enabling programmable token logic through Ethereum's account-based architecture. X Layer (Native Gas): The OKB token serves as the native gas token on the X Layer network. While X Layer is EVM-equivalent, OKB functions at the protocol level for gas payments rather than solely as a smart contract token. However, wrapped versions or bridged representations on the network typically follow the standard ERC-20 interface to ensure compatibility with dApps and wallets.
H.3 Technology used	textBlock	The underlying technology used varies across the networks on which the OKB token is deployed, as described below. Ethereum: The OKB token is deployed on the Ethereum blockchain using the ERC‑20 token standard. Ethereum is a general-purpose Layer 1 blockchain that supports smart contract execution via the Ethereum Virtual Machine (EVM). The token contract is written in Solidity and interacts with the Ethereum network using RPC-compatible clients. The Ethereum ecosystem enables composability with DeFi, NFT, and DAO infrastructure, and supports programmable token functionality within a Turing-complete environment. X Layer: The OKB token is the native asset of the X Layer, a Layer 2 blockchain built using the Polygon Chain Development Kit (CDK). X Layer utilises Zero-Knowledge (ZK) technology to bundle transactions off-chain and post validity proofs to the Ethereum mainnet. This architecture ensures high throughput and low fees while inheriting the security of Ethereum. The network is EVM-equivalent, allowing developers to deploy existing Ethereum smart contracts without modification.
H.4 Consensus mechanism	text	The consensus mechanism varies across the networks on which the OKB token is deployed, as described below. Ethereum: Ethereum uses a Proof-of-Stake (PoS) consensus mechanism. Validators are selected to propose and attest to new blocks based on the amount of ETH they have staked. Blocks are finalized through a checkpoint-based finality system, with strong economic incentives to penalize dishonest behavior. This mechanism supports decentralization, finality, and high security. This consensus model ensures the integrity of the blockchain, including the execution and recording of all associated transactions for the OKB token. X Layer: X Layer operates as a ZK-rollup, which relies on a sequencer to order transactions and generate blocks. These blocks are then cryptographically verified using Zero-Knowledge proofs (validity proofs) which are submitted to the Ethereum Layer 1 for final settlement. This means that while the sequencer orders transactions, the ultimate security and finality of the network are derived from the underlying Ethereum consensus mechanism.
H.5 Incentive mechanisms and applicable fees	text	The incentive mechanisms and applicable fees vary across the networks on which the OKB token is deployed, as described below. Ethereum: Ethereum validators earn rewards in the native token (ETH) for producing and attesting to blocks. Gas fees are paid in ETH and are required to execute transactions or smart contract calls, including OKB token transfers. Under EIP-1559, a portion of the base fee is burned while the remainder is distributed to validators. Fees vary depending on network congestion and computational complexity of the transaction. X Layer: On the X Layer, users pay transaction fees (gas) in OKB. These fees are used to compensate the network operators (sequencers) for the computational resources required to process transactions and generate ZK-proofs. The fee structure is designed to be significantly lower than Ethereum Layer 1, enabling cost-effective micro-transactions and high-frequency trading.
H.6 Use of distributed ledger technology	boolean	false
H.7 DLT functionality description	textBlock	N/A
Other token audit details
H.8 Audit	boolean	false
H.9 Audit outcome	textBlock	N/A
Part I - Information on risks
I.1 Offer-related risks	textBlock	This whitepaper is submitted by OKX Europe Limited solely for the purpose of the asset's admission to trading. No public offer of OKB tokens is being made by the issuer. Risks associated with the admission to trading include: Service-related Interruption: Holders may be unable to access the utility due to technical, operational, or regulatory disruptions. Jurisdictional Limitations; OKB services or token utility may not be available in all jurisdictions, potentially restricting access. Platform Reliance; Access depends on third-party infrastructure (wallets, platforms) and service interruptions or failures may affect token utility. Limited Liability; OKX Europe Limited assumes no responsibility for the issuer's project continuation, and token ownership does not confer contractual rights or guarantees. Unexpected Risks; Beyond the risks outlined in this whitepaper, there may be additional risks that are currently unforeseen. It is imperative to note that certain risks may emerge from unforeseen events, changes, or interactions among factors that are difficult to predict. These unexpected risks may significantly and negatively impact the crypto-asset, the project, or the parties involved.
I.2 Issuer-related risks	textBlock	Operational Risks; There is a risk that the issuer may face financial or operational difficulties, including insolvency, which could impact the continued development or availability of the services associated with the OKB token. Counterparty Risks; Counterparty risks may arise where the issuer relies on third-party service providers or technology partners. Reputational Risks; Adverse media and/or damage or loss of key personnel could negatively affect the ecosystem that the OKB token lives on. Competition Risk; The issuer may face increased competition or changes in market conditions that affect its ability to carry out its objectives. Regulatory Risks; The issuer may be subject to investigations, enforcement actions, or change in regulation that affect the token's legal status in certain jurisdictions. Disclosure Risks; The issuer may not be required to provide financial statements, limiting OKB token holders' visibility into the financial health status of the issuer/project. Issuer Risks; The information provided is based solely on available sources and does not constitute any form of guarantee or warranty as to its accuracy or completeness. Additionally, the issuer of the token is an affiliate of OKX Europe Limited, and therefore OKX takes into account any circumstances which may give rise to a conflict of interest, due to the structure and business activities of other entities within the group. In particular, OKX prevents any abuse resulting from concentrated control, management of related-party transactions (including affiliated companies), and transparency of related-party transactions.
I.3 Other tokens-related risks	textBlock	Market Volatility; The OKB token may be subject to significant volatility and could lose value rapidly, either due to market conditions or otherwise (issuer-related/technology/project implementation risks). Utility Risk; The OKB token utility depends on access to certain services, and any modification or discontinuation of those services could reduce the associated utility of the token. Smart Contract Risk; The OKB token may operate through smart contracts that may contain vulnerabilities, even if audited, and upgrades to the protocol or governance changes may affect functionality. Liquidity Risk; Periods of low/limited liquidity may occur, particularly if the demand for the token or its use case decreases, which could have adverse effects on the OKB token's price and future use cases.
I.4 Project implementation-related risks	textBlock	Scalability Issues; There is a risk that the project may not be implemented or scaled as intended. Technical limitations or infrastructure bottlenecks could hinder the expected scalability of the project, especially if user demand exceeds network or protocol capacity. Governance Risk; The project may be subject to governance processes that involve on-chain voting or community proposals. Misaligned incentives, low participation, or malicious actors may affect the outcome of governance decisions and disrupt the project's roadmap. Centralisation Risk; Similar to governance risks outlined above, centralisation within the governance process, or sequencer centralisation could lead to a lack of decentralization within the network, which carries future risks in terms of trust within the project, and also in regards to future roadmaps where plans may not reflect the interests of the broader user base.
I.5 Technology-related risks	textBlock	Blockchain Performance Risk; The Ethereum and X Layer blockchains, on which the token is issued, may experience downtime or congestion, which could delay or prevent token transfer or utility usage. Consensus Failure Risk; A failure in the blockchains consensus mechanism could result in halted transactions, unexpected behavior, or loss in network integrity. Smart Contract Vulnerabilities; Although the token uses audited or standard smart contract makeups (ERC-20), undetected bugs, exploits, or implementation errors could compromise functionality or security. Upgradeability Risk; if the token or related contracts are upgradeable and have designated "owner" addresses, this introduces a central point of failure, and could be misused by malicious actors. Third-party Infrastructure Dependency; Interaction with the token or project may rely on external infrastructure (APIs, wallet services, off-chain governance voting). Outages or attacks may interrupt access to token-related services. Interoperability Risk; Other chains, bridges, or oracles may experience failures or exploits, which could affect the OKB token's operations. Blockchain-level Risk; Upgrades or forks of the X Layer blockchain itself may affect the token, which could lead to compatibility issues and/or unexpected token behaviour. Emerging Technology Risk; Advances in computing or undiscovered vulnerabilities in cryptographic algorithms may pose long-term security risks to the blockchain or associated smart contracts. Sequencing Risk: The token may rely on a centralised sequencer(s) to process transactions to the native L1 network. If the sequencer(s) experience downtime, censorship, or misuse, transaction ordering and availability may be adversely affected.
I.6 Mitigation measures	textBlock	Mitigation measures for the OKB token must address risks arising across all deployment networks. Blockchain Performance Risk; The Ethereum blockchain has adopted a Proof-of-Stake consensus mechanism to improve network scalability and reduce latency. Ongoing upgrades to the network are designed to enhance throughput, and gas fees help prioritise transactions under load. The X Layer utilizes Polygon CDK technology and Zero-Knowledge proofs to batch transactions, significantly increasing throughput and reducing costs compared to Layer 1. Consensus Failure Risk; Ethereum Proof-of-Stake consensus mechanism includes validator incentives, slashing penalties for malicious actors, and finality checkpoints to ensure integrity. The validator set is large and globally distributed which reinforces decentralization of the network. X Layer inherits the security of Ethereum by posting validity proofs to Layer 1, ensuring that the state cannot be transitioned incorrectly even if the L2 operator is malicious. Smart Contract Vulnerabilities; Smart contracts on Ethereum and X Layer are immutable by design, unless explicitly designed to be upgradeable. The ecosystem encourages open source code, independent audits, and community input. Standardised libraries such as OpenZeppelin reduce coding errors by reusing tested components. Upgradeability Risk; Ethereum does not enforce upgrade functionalities within smart contracts, but supports their technical implementation. Risks related to upgradeable contracts can be mitigated through standard practices such as time delay triggers or multi-sig wallets, which OKX has implemented. Third-party Infrastructure Dependency; The Ethereum blockchain and ecosystem supports decentralized indexing and querying via different protocols to reduce reliance on centralized third-party data services. X Layer integrates with standard RPC providers and data availability layers to ensure robust infrastructure support. Interoperability Risk; Mitigations for cross-chain bridging include usage of audited bridges and token locking mechanisms. The official X Layer bridge utilizes ZK-proofs for secure asset transfers between Ethereum and X Layer. Protocol-level Risk; Ethereum maintains a public roadmap and follows a structured governance process. Core updates to the network undergo extensive testing and community reviews. X Layer upgrades are coordinated by the technical team with testing phases on testnets like Sepolia before mainnet deployment. Emerging Technology Risk; Ethereum developers monitor potential emerging technology threats and are actively researching and developing quantum-resistant solutions. The network's modular design may allow for future cryptographic upgrades if required. Protocols generally monitor cryptographic developments and maintain a modular architecture that enables future upgrades to post-quantum or similar standards.
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts
J.1 Adverse impacts on climate and other environment-related adverse impacts	textBlock
Mandatory information on principal adverse impacts on the climate and other environment-related adverse impacts of the consensus mechanism
General information about adverse impacts
S.1 Name	text	OKX Europe Limited
S.2 Relevant legal entity identifier	text	54930069NLWEIGLHXU42
S.3 Name of the crypto-asset	text	okb_token
S.4 Consensus mechanism	text	okb_token is present on the following networks: Ethereum, X Layer. The crypto-asset's Proof-of-Stake (PoS) consensus mechanism, introduced with The Merge in 2022, replaces mining with validator staking. Validators must stake at least 32 ETH every block a validator is randomly chosen to propose the next block. Once proposed the other validators verify the blocks integrity. The network operates on a slot and epoch system, where a new block is proposed every 12 seconds, and finalization occurs after two epochs (~12.8 minutes) using Casper-FFG. The Beacon Chain coordinates validators, while the fork-choice rule (LMD-GHOST) ensures the chain follows the heaviest accumulated validator votes. Validators earn rewards for proposing and verifying blocks, but face slashing for malicious behavior or inactivity. PoS aims to improve energy efficiency, security, and scalability, with future upgrades like Proto-Danksharding enhancing transaction efficiency.X Layer operates as an Ethereum Layer-2 network built using Polygon's Chain Development Kit (CDK) and follows a zkEVM validium architecture. Transactions are executed and batched off-chain by sequencers, while aggregators generate zero-knowledge validity proofs attesting to the correctness of state transitions. These validity proofs are submitted to Ethereum for verification and final settlement. Consensus on the validity of the Layer-2 state is therefore achieved through cryptographic proof verification on Ethereum rather than on-chain data availability
S.5 Incentive mechanisms and applicable fees	text	okb_token is present on the following networks: Ethereum, X Layer. The crypto-asset's PoS system secures transactions through validator incentives and economic penalties. Validators stake at least 32 ETH and earn rewards for proposing blocks, attesting to valid ones, and participating in sync committees. Rewards are paid in newly issued ETH and transaction fees. Under EIP-1559, transaction fees consist of a base fee, which is burned to reduce supply, and an optional priority fee (tip) paid to validators. Validators face slashing if they act maliciously and incur penalties for inactivity. This system aims to increase security by aligning incentives while making the crypto-asset's fee structure more predictable and deflationary during high network activity. Users of X Layer pay transaction fees at the Layer-2 level to cover transaction execution, batching, and proof generation. Fees are collected by the protocol operators responsible for sequencing and aggregation and are used to fund network operation and settlement on Ethereum. Due to the validium design, transaction data is stored off-chain, which reduces data availability costs compared to on-chain rollups. Fee parameters and payment mechanisms are defined at the protocol level and reflect execution and settlement resource usage.
S.6 Beginning of period to which disclosed information relates	date	2025-01-27
S.7 End of period to which disclosed information relates	date	2026-01-27
Mandatory key indicator
S.8 Energy consumption	energy (kWh)	5518.80000
Sources and methodologies
S.9 Energy consumption sources and methodologies	textBlock	The energy consumption of this asset is aggregated across multiple components: For the calculation of energy consumptions, the so called 'bottom-up' approach is being used. The nodes are considered to be the central factor for the energy consumption of the network. These assumptions are made on the basis of empirical findings through the use of public information sites, open-source crawlers and crawlers developed in-house. The main determinants for estimating the hardware used within the network are the requirements for operating the client software. The energy consumption of the hardware devices was measured in certified test laboratories. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regularly, based on data of the Digital Token Identifier Foundation. The information regarding the hardware used and the number of participants in the network is based on assumptions that are verified with best effort using empirical data. In general, participants are assumed to be largely economically rational. As a precautionary principle, we make assumptions on the conservative side when in doubt, i.e. making higher estimates for the adverse impacts. To determine the energy consumption of a token, the energy consumption of the network(s) ethereum is calculated first. For the energy consumption of the token, a fraction of the energy consumption of the network is attributed to the token, which is determined based on the activity of the crypto-asset within the network. When calculating the energy consumption, the Functionally Fungible Group Digital Token Identifier (FFG DTI) is used - if available - to determine all implementations of the asset in scope. The mappings are updated regularly, based on data of the Digital Token Identifier Foundation. The information regarding the hardware used and the number of participants in the network is based on assumptions that are verified with best effort using empirical data. In general, participants are assumed to be largely economically rational. As a precautionary principle, we make assumptions on the conservative side when in doubt, i.e. making higher estimates for the adverse impacts.
Supplementary information on principal adverse impacts on climate and other environment-related adverse impacts of consensus mechanism
Supplementary key indicators
S.10 Renewable energy consumption	percent
S.11 Energy intensity	energy (kWh)
S.12 Scope 1 DLT GHG emissions - controlled	GHG emissions (tCO2e)
S.13 Scope 2 DLT GHG emissions - purchased	GHG emissions (tCO2e)
S.14 GHG intensity	GHG emissions (tCO2e)
Sources and methodologies
S.15 Key energy sources and methodologies	textBlock
S.16 Key GHG sources and methodologies	textBlock
Optional information on principal adverse impacts on the climate and on other environment-related adverse impacts of the consensus mechanism
Optional indicators
S. 17 Energy mix	percent
S.18 Energy use reduction
Energy use reduction target (absolute value)	energy (kWh)
Energy use reduction target (percentage)	percent
S.19 Carbon intensity (kgCO2e/kWh)	decimal
S.20 Scope 3 DLT GHG emissions - value chain	GHG emissions (tCO2e)
S.21 GHG emissions reduction targets or commitments	textBlock
S.22 Generation of waste electrical and electronic equipment (WEEE)	mass (tonnes)
S.23 Non-recycled WEEE ratio	percent
S.24 Generation of hazardous waste	mass (tonnes)
S.25 Generation of waste (all types)	mass (tonnes)
S.26 Non-recycled waste ratio (all types)	percent
S.27 Waste intensity (all types)	mass (tonnes)
S.28 Waste reduction targets or commitments (all types)	textBlock
S.29 Impact of use of equipment on natural resources	textBlock
S.30 Natural resources use reduction targets or commitments	textBlock
S.31 Water use	volume (m3)
S.32 Non recycled water ratio	percent
Sources and methodologies
S.33 Other energy sources and methodologies	textBlock
S.34 Other GHG sources and methodologies	textBlock
S.35 Waste sources and methodologies	textBlock
S.36 Natural resources sources and methodologies	textBlock