According to an official announcement from OKX, the timetable for completing the PP upgrade on X Layer and launching the OKB Gas Token economic model optimization is as follows (Beijing time):

August 13, 2:10 PM: OKT will cease trading on the OKX exchange. OKTChain will continue to produce blocks and process transactions normally.

August 13, 3:00 PM: OKX will stop withdrawing OKB to ETH L1.

August 15, 10:00 AM: The platform automatically converts OKT in user accounts into OKB according to the rules.

August 15th, 2:00 PM: OKB will be destroyed all at once, and the smart contract will be called to perform the on-chain destruction.

August 18, 2:00 PM: OKB Smart Contract will be upgraded to remove the issuance and destruction functions.