OKX Launches X Layer 2 Network on Ethereum Mainnet
OKX, a prominent crypto exchange, recently introduced the mainnet of its Ethereum-based zero-knowledge Layer 2 network, named X Layer. This strategic move marks a significant progression for OKX as it delves deeper into the decentralized finance space.
OKX's Chief Marketing Officer, Haider Rafique, articulated the vision behind X Layer, positioning it and other Layer 2 chains as the fundamental infrastructure of the Web3 realm. The aspiration is to create an ecosystem characterized by seamless integration and maximum interoperability.
The launch of X Layer's mainnet follows a successful testnet debut last year, where over 50 decentralized applications were swiftly deployed. Notable platforms such as The Graph, LayerZero, Curve, QuickSwap, Timeswap, and Galxe are among the early adopters leveraging the Layer 2 network.
With X Layer now live, users gain access to an array of more than 170 decentralized applications. Additionally, the network enables seamless crypto deposits and withdrawals through OKX, enhancing user experience and accessibility.
OKX's extensive user base of 50 million individuals worldwide positions X Layer to tap into a vast market and substantial liquidity reserves. The integration of OKX's native token, OKB, as a utility token within the Layer 2 network ensures that transaction fees will be denoted in OKB.
Empowering Connectivity Through Polygon Ecosystem
X Layer is set to interact with other networks supported by Polygon's CDK, which underpinned its development. This integration will facilitate connections with various platforms like Immutable, Astar, Canto, Palm Network, Aavewotchi, IDEX, Manta Network, and Nubank. Leveraging Polygon's 'AggLayer,' X Layer stands to benefit from unified liquidity across multiple chains.
Marc Boiron, the CEO of Polygon Labs, emphasized the importance of X Layer in advancing the industry towards a unified Web3 landscape. The connection to AggLayer addresses liquidity fragmentation, fostering growth and collaboration among interconnected chains.
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These developments signify a pivotal moment in the evolution of decentralized finance and blockchain interoperability.
Source: The Bit Times
