OKT Chain (OKT)

Deprecated

Token marked for de-listing

Overview

OKT Chain (often shortened to OKTC) is a Layer 1 blockchain built with the Cosmos SDK and designed to be both fast and highly interoperable. It supports the Ethereum Virtual Machine (EVM), so Ethereum-style smart contracts and tools work with minimal changes. It also connects to other Cosmos-based chains through the Inter‑Blockchain Communication protocol (IBC). Together, these features let developers build apps that can move assets and messages across different networks while keeping fees low and confirmation times quick. OKT is the native token that pays for gas, powers governance, and historically has been used for staking on the network. (okx.com)

What makes OKT Chain different?

• Built on Cosmos for modular design and fast finality.
• 100% EVM compatible, so wallets like MetaMask and tooling such as Hardhat can be used.
• IBC interoperability to send assets/messages to other Cosmos chains.
• A developer focus on low fees and high throughput (marketing claims highlight thousands of transactions per second). (okx.com)

History & Team

OKT Chain began life as OKExChain, a public chain initiative from the team behind the OKX crypto exchange. The project’s mainnet rollout started at the end of 2020, with a staged launch that enabled the chain, distributed the initial OKT supply to OKB holders, and later switched on smart contract support and EVM compatibility. In subsequent years, OKEx rebranded to OKX, and the chain adopted the OKT Chain (OKTC) name in the ecosystem. OKX founder Star Xu is widely recognized as the driving force behind the broader OKX/OKEx group of companies that incubated the chain. (globenewswire.com)

From the start, OKT Chain has been maintained by engineers associated with OKX, outside contributors, and an external validator community. Documentation, SDKs, and public RPC endpoints have been published to help outside teams run nodes, build apps, and deploy contracts. Infrastructure providers such as OnFinality also added managed endpoints to support builders. (web3.okx.com)

Technology & How It Works

OKT Chain combines familiar EVM tooling with Cosmos architecture:

• Consensus and validator set. OKTC uses Tendermint-style Byzantine Fault Tolerant proof‑of‑stake. Token holders delegate voting power to validators. The top 21 validators by stake compose the “active set,” rotating proposer duties and finalizing blocks in a round‑robin pattern. Elections occur in fixed cycles (every 252 blocks), and the active set can change as stake moves. (okx.com)

• EVM execution. OKTC runs an EVM execution environment, so Solidity contracts, MetaMask, and common Ethereum libraries work much like they do on Ethereum or other EVM chains. Chain ID 66 and public RPC/explorer endpoints allow standard wallet connections. (okx.com)

• IBC interoperability. After a core‑stack upgrade, OKTC enabled IBC and added a token‑mapping layer so Cosmos “native” assets can arrive over IBC and appear as ERC‑20s in the EVM, either via auto‑deployed mappings or by governance proposals from project teams. The same path works in reverse to send ERC‑20s back to their Cosmos source chains. (okx.com)

• WASM and cross‑VM calls. In 2023 the chain integrated a WebAssembly (Wasm) VM alongside the EVM. A module called VMBridge lets EVM contracts call WASM contracts and vice versa, which opens the door to CosmWasm‑style apps and development in languages like Rust while keeping EVM compatibility. (globenewswire.com)

• Performance and fees. OKTC’s materials emphasize high throughput (on the order of several thousand TPS) and sub‑cent transaction costs, reflecting a design tuned for consumer apps and trading use cases. Actual throughput depends on network conditions, but the system targets fast finality and low overhead. (okx.com)

Tokenomics & Utility

OKT is the chain’s native asset. It serves as the unit for gas, governance deposit/voting, and validator collateral. In the earliest phase, 10 million OKT were minted in the genesis and distributed to OKB holders via an OKX Jumpstart event. Later, OKT became available on exchanges and through on‑chain activity. (globenewswire.com)

For issuance, OKX outlined a schedule that targeted a 21 million maximum supply, with a reward‑halving mechanism designed to reduce issuance roughly every nine months until the total supply reached the cap (initially projected around 2028). This design aimed to steadily decrease new issuance as the network matured. (chaincatcher.com)

A key update arrived on September 17, 2025, when OKT Chain stopped distributing OKT staking rewards. Liquid staking services related to OKT were also discontinued, with a conversion route provided for derivative tokens back to OKT. After this change, protocol‑level OKT emissions for staking were no longer paid out; validators and network participants continue to rely on transaction fees and the chain’s governance processes for incentives and operations. (okx.com)

In everyday use, OKT enables:

• Gas payments for transactions and smart contract calls on OKTC.
• Participation in governance, including proposing and voting on parameter changes and upgrades (with OKT deposits required to submit proposals). (okx.com)
• Validator bonding and delegation to secure the network’s consensus (with the caveat that reward distribution ended in 2025). (okx.com)

OKLink functions as the official explorer, showing chain activity, validator information, and token lists across the KIP‑20 standard on OKTC. The explorer also reflects the chain’s validator count and total supply figures. (oklink.com)

Ecosystem & Use Cases

OKT Chain’s ecosystem spans DeFi, NFT, gaming, and infrastructure:

• DeFi. OKTC hosts automated market makers and DEXs where users can swap tokens, provide liquidity, and build on top of EVM‑compatible primitives. Projects like OKCSwap and Jswap have operated on OKTC, and liquidity/TVL has evolved over time as apps iterate and, in some cases, migrate across chains. (defillama.com)

• Bridges and IBC. With IBC enabled, Cosmos‑native assets can move to OKTC and be represented as ERC‑20s, and OKTC ERC‑20s can be sent out to Cosmos chains where they appear under IBC denoms. The token‑mapping module allows either automatic or proposal‑based mappings for smooth UX. (web3.okx.com)

• Oracles and developer tooling. OKTC materials highlight multi‑chain oracle support and a developer toolchain (SDKs, OpenAPI, public RPCs) that is familiar to EVM developers while also catering to CosmWasm builders through Bytecraft and cross‑VM bridging. Third‑party node providers such as OnFinality added managed endpoints to ease deployments. (okx.com)

• NFTs and games. As an EVM chain, OKTC supports common NFT standards and game contracts. Projects have launched, iterated, and sometimes moved to other networks as they scale; the chain’s goal is to make these cycles simple by offering EVM compatibility, low fees, and IBC connectivity. (okx.com)

Advantages & Challenges

Advantages

• Interoperability at the base layer. EVM + IBC gives OKTC both Ethereum‑tooling convenience and Cosmos connectivity, reducing friction for cross‑chain apps. (okx.com)
• Developer choice of VMs. The coexistence of EVM and a Wasm VM, plus a cross‑VM bridge, offers flexibility in languages, tooling, and performance trade‑offs. (okx.com)
• High throughput, low fees. The network is designed for fast confirmations and low gas costs, attractive for consumer apps and trading flows. (okx.com)
• Backing and tooling from OKX. Documentation, explorers, and SDKs lower the barrier to entry for teams building on chain. Infrastructure partners provide additional endpoints. (web3.okx.com)

Challenges

• Competition among Layer 1s. OKTC competes with large EVM chains and other Cosmos chains for developers, liquidity, and users.
• Validator set size and perception. With an active set of 21 validators, decentralization is driven by stake distribution more than by sheer validator count, which some observers may view as relatively concentrated. (okx.com)
• Evolving incentives. The discontinuation of OKT staking rewards on September 17, 2025, changes how validators and delegators think about long‑term participation and may shift focus toward fee markets and governance‑driven incentives. (okx.com)

Where to Buy & Wallets

OKT Chain can be purchased on centralized exchanges including OKX, Gate.io, MEXC, HitBTC, and CoinW. Availability can vary by region and venue. (coindesk.com)

OKT is available in self‑custody wallets. OKX Wallet supports OKTC out of the box. MetaMask connects to OKTC by adding the network (Chain ID 66 and an appropriate RPC). Hardware and mobile wallets with EVM support may connect as well; for example, CoolWallet added OKTC integration with one‑click access to the OKLink explorer. For IBC transfers with Cosmos chains, users commonly interact with Cosmos‑friendly wallets when moving assets to or from OKTC via IBC. (okx.com)

Regulatory & Compliance

OKT Chain is an open blockchain protocol. It does not grant user accounts or custody funds the way a centralized intermediary might, and its native token serves on‑chain utility functions like gas and governance. Classifications of crypto assets differ across jurisdictions and can evolve over time. While OKX, the exchange that incubated OKTC, operates internationally and has pursued licenses in multiple regions, there is no single, global legal category for the OKT token itself. In general, tokens used as gas and for on‑chain voting are often described as “utility tokens,” but actual treatment can vary depending on local rules and the way a token is offered or used. (en.wikipedia.org)

From a shariah perspective, discussions around proof‑of‑stake networks focus on the nature of rewards and the purpose of staking. Many Islamic finance voices consider staking permissible when rewards compensate participants for providing a real service to the network (securing blocks and validating transactions) rather than for interest‑bearing lending. Because OKT Chain’s staking rewards were protocol emissions tied to consensus and have since been discontinued (September 17, 2025), the ongoing use of OKT is mainly as a utility token for gas and governance. There is no widely cited, specific fatwa on OKT Chain; assessments typically look at how the network is used and whether associated activities avoid riba (interest), excessive uncertainty, and gambling. (techopedia.com)

Future Outlook

Technically, OKT Chain is positioned as a bridge between EVM familiarity and Cosmos interoperability. The introduction of a Wasm VM alongside the EVM, and a cross‑VM bridge, gives developers room to pick the right tool for each job and even compose across VMs inside one chain. Continued improvements to IBC token‑mapping and cross‑chain UX can make moving value between OKTC and other Cosmos chains smoother. If app teams lean into these strengths—low fees, fast finality, and cross‑chain reach—the chain can remain an appealing venue for multi‑chain DeFi, NFTs, and gaming. (okx.com)

On the economic side, the end of staking reward emissions in 2025 shifts OKTC toward a model where transaction fees and governance choices carry more weight. Over time, proposals could refine fee parameters, validator economics, and cross‑chain integrations as usage patterns evolve. The network’s trajectory will likely follow the apps that find product‑market fit on EVM, CosmWasm, or both, and the partnerships OKTC forms across the broader Web3 stack. (okx.com)

Summary

OKT Chain is a Cosmos‑based Layer 1 that blends EVM compatibility, IBC interoperability, and an expanding WASM toolset in one network. Its native token, OKT, pays for gas and enables on‑chain governance. The chain launched from the OKX ecosystem, rolled out EVM and IBC features, and later added a WASM runtime with cross‑VM calls. A notable tokenomics change came in September 2025, when OKT staking rewards were discontinued, marking a shift toward fee‑driven network economics. With low fees, fast finality, and strong cross‑chain connectivity, OKT Chain aims to stay relevant as a general‑purpose platform for builders who want to reach both the Ethereum and Cosmos worlds from a single chain. (globenewswire.com)