OKX L2 “X Layer” Launches, Potential of 50 Million Users Joining On-Chain Applications
Exchange OKX officially launched its X Layer on the mainnet, which has the potential to bring its massive 50 million users into on-chain applications and improve trading efficiency while reducing costs with L2 solutions.
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Introduction of X Layer: OKX’s New Topic
OKX Rapidly Deployed Products
Transaction Fees Utilize OKB
In collaboration with Polygon, OKX introduced X Layer, an Ethereum-based zero-knowledge L2 network that incorporates Polygon’s development components. This blockchain, originally tested under the codename “X1,” is now officially live. According to OKX’s COO Haider Rafique, “We see these L2s as the high-speed highway infrastructure for the Web3 world,” emphasizing its role in promoting the next generation of decentralized applications and wallets.
Since its testnet launch in November last year, X Layer has quickly gained popularity, with over 50 decentralized applications deployed within a week. Prominent Web3 and DeFi platforms such as The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap have already begun utilizing this new network. With support from over 170 decentralized applications, X Layer allows users to directly engage in various blockchain activities through OKX, such as token exchanges and staking, promising a rich environment for developers and users.
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Powering the economic framework of X Layer is OKX’s platform token, OKB, which has recently seen an 8.18% growth and serves as the native asset for transaction fees.
Currently the second-largest exchange after Binance, OKX has facilitated over $60 billion in transactions this month.
X Layer utilizes Polygon’s CDK as a ZK Rollup solution, enhancing transaction throughput while maintaining Ethereum’s inherent security features. X Layer is compatible with Ethereum, allowing existing Ethereum applications to easily migrate to this new platform without extensive redevelopment.
In addition to the technology, X Layer will also interoperate with other networks through Polygon’s blockchain aggregation layer, AggLayer.
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This integration will address the common issue of fragmentation in liquidity and user bases across different chains, promoting a more unified and scalable blockchain ecosystem. Marc Boiron, CEO of Polygon Labs, emphasized the importance of this integration, stating, “Connecting with AggLayer is a significant step towards a truly unified Web3 environment.”
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Further Reading
Focusing on Vision and Mission: OKX Web3 “The Future is Now” Theme Event Successfully Concluded
OKX President Hong: Leading Industry Transparency with Responsible Innovation
