OKX launches X Layer public mainnet to bring 50 million users onto the chain

2024/04/16 02:38

On April 16, OKX, a leading global crypto asset exchange and Web3 technology company, officially launched the X Layer public mainnet. X Layer is an Ethereum Layer2 network based on ZK technology, built with Polygon CDK, and uses AggLayer to achieve shared state and liquidity between multiple chains, combining innovation and security.

X Layer aims to leverage advanced technology to enable millions of users to interact with on-chain applications more cheaply and quickly. In addition to making transactions secure, scalable and cost-effective through ZK technology, X Layer is also compatible with the Ethereum Virtual Machine (EVM), allowing dApps built on Ethereum to be deployed seamlessly without much development work.

Haider Rafique, Chief Marketing Officer of OKX, said: "X Layer is for visionary developers who are creating applications to help bring millions of people onto the chain. We can imagine X Layer and other second-layer chains as the infrastructure highways of the Web3 world, dApps are the market, and self-hosted wallets are the vehicles that take users there. To achieve this vision, we are building an ecosystem that is as seamless and interoperable as possible. X Layer has unlimited potential due to our strong community and connections to other Ethereum-based networks."

X Layer adoption has grown rapidly since the launch of its mainnet testnet in November 2023. Within a week of its testnet launch, more than 50 Web3 dApps were deployed on it, including The Graph, Curve, LayerZero, QuickSwap, Galxe, Timeswap and many other well-known applications are also being deployed on X Layer. Global users can now transfer assets through the X Layer network, store and withdraw crypto assets on OKX, and access more than 170 dApps for exchange and staking through smart contracts, etc. With X Layer officially open to the public, the number of dApps is expected to grow exponentially.

Today, OKX is one of the world's largest crypto exchanges by daily trading volume (including spot and derivatives), with more than $22 billion in crypto assets hosted on the platform. At the same time, the OKX wallet is one of the most advanced portals in the Web3 world, supporting more than 90+ public chains and providing a powerful DEX and NFT market aggregator. Currently, OKX has more than 50 million users worldwide and is becoming a global hub for a diverse community, ensuring that X Layer has a large potential user base and sufficient liquidity at launch. OKX's platform currency OKB will serve as the native token of the X Layer network and be used to pay for Gas.

X Layer is powered by Polygon CDK, a cutting-edge ZK-based software development toolkit tailored for blockchain developers. This innovative toolkit makes it easy for developers to build new L2 for Ethereum. On a technical level, OKX developers will also contribute to Polygon CDK to ensure that the core technology stack that drives X Layer continues to innovate and improve. In addition, X Layer will be connected to other chains driven by Polygon CDK through AggLayer to achieve a seamless transition of liquidity, thereby enhancing the community scale and liquidity of X Layer.

AboutOKX

OKX is a global cryptocurrency exchange and innovative Web3 technology company that has gained the trust of more than 50 million users worldwide and is known for providing the fastest and most reliable cryptocurrency trading applications. As Premier League champion Manchester City F.C., McLaren F1 Team, Olympic snowboarder Scotty James and F1 driver Daniel Ricciardo’s Premier Partner, OKX aims to enhance the fan experience through new ways to interact. In addition, OKX is also a top partner of the Tribeca Festival, committed to attracting more creators to the Web3 space. The OKX Wallet is designed to provide the latest products for users exploring GameFi, DeFi, NFTs, and the Metaverse. OKX is committed to improving transparency and security, and publishes regular reserve proof reports every month. For more information about OKX, please download the app or visit: okx.com

AboutPolygon Labs

Polygon Labs develops Ethereum scaling solutions for the Polygon Protocol and works with other ecosystem developers to provide scalable, affordable, secure, and sustainable blockchain infrastructure for Web3. Polygon Labs initially developed an expanding set of protocols including Layer 2s (ZK rollups), sidechains, application-specific chains, and data availability protocols to facilitate developers to easily access major scaling solutions. Since its inception, these scaling solutions have now been widely adopted, used in tens of thousands of dApps, supporting more than 400 million dApps, and more than 200 million dApps. 100 million unique addresses, 2 million smart contracts created, and 3.5 billion transactions processed. The Polygon Network is now home to the largest Web3 projects like Aave, Uniswap, and OpenSea, as well as well-known companies including Adidas, Stripe, and Adobe. Polygon Labs is carbon neutral and its goal is to lead Web3 to become carbon negative.

This content is for educational and informational purposes only and does not constitute and should not be considered as (i) investment advice or investment recommendations; (ii) an offer or solicitation to buy, sell or hold digital assets (including NFTs or other assets); or (iii) financial, accounting, legal or tax advice.