The meaning of coin conversion to stock

If OKB really takes the path of "coin to stock" in the future, it essentially changes the identity of holders from "users/speculators" to "shareholders/beneficiaries."
• Coin holders no longer just enjoy fee discounts and platform benefits, but directly share in the platform's profit distribution and equity appreciation.
• Corresponding to traditional finance, this is from a membership card → becoming a share certificate.

Impact on OKB price
• Value Reassessment: Once implemented, the pricing logic of OKB will shift from "platform coin valuation" to "equity valuation."
• Increased Scarcity: Circulation may tighten, value anchoring becomes clearer, and the market cap ceiling will rise.
• Change in Valuation Logic: For example, if the OKX exchange profits reach the hundred billion level, after converting coins to stocks, OKB can be valued based on "price earnings ratio and price to book ratio" instead of just speculating on concepts.

Potential impact
• Positive for the long term: Institutions and long-term capital are more likely to accept equity logic, and risk exposure is more controllable.
• Short-term fluctuations: The implementation rules for converting coins to stocks, compliance, and exchange ratios will trigger market speculation, which may lead to severe volatility.
• Policy risk: Involves regulatory red lines, must see if it is conducted within a compliance framework.

In summary:
If OKB successfully converts coin to stock, it will directly upgrade from a "platform token" to an "exchange equity certificate," completely changing the pricing logic, which will be hugely beneficial in the long term and could be a crucial step in closing the gap with BNB.