OKX, a leading global crypto exchange and Web3 technology company, has announced the launch of its Ethereum-based layer-2 scaling network, X Layer, on its public mainnet.
Built using Polygon’s Chain Development Kit (CDK), X Layer aims to provide faster and cheaper transactions than Ethereum’s mainnet while leveraging the power of zero-knowledge (ZK) technology.
TLDR
- OKX has launched the public mainnet of its Ethereum-based layer-2 scaling network, X Layer, built using the Polygon CDK.
- X Layer is one of the first to utilize Polygon’s AggLayer, which aims to unify liquidity and user experience across multiple chains.
- The launch of X Layer positions OKX as a competitor to other major crypto exchanges like Coinbase and Kraken, which have also pursued their own layer-2 networks.
- X Layer currently provides users access to over 170 decentralized applications (dapps), with plans to expand the ecosystem significantly.
- OKX has integrated X Layer with its Web3 Wallet, enabling users to view, transfer, and trade X Layer assets on OKX’s DEX and NFT Marketplace.
The launch of X Layer positions OKX as a direct competitor to other major crypto exchanges, such as Coinbase and Kraken, which have also pursued their own layer-2 networks over the past year. Coinbase’s Base blockchain, launched in August 2023, is built with Optimism’s OP Stack, while Kraken is reportedly interested in creating its own layer-2 solution as well.
One of the key features of X Layer is its integration with Polygon’s AggLayer, a solution designed to unify liquidity and user experience across multiple chains. By connecting to the AggLayer, X Layer aims to provide a seamless and interoperable ecosystem for its users.
OKX’s Chief Marketing Officer, Haider Rafique, emphasized the importance of this integration, stating that “X Layer has limitless potential thanks to [OKX’s] strong community.”
Currently, X Layer provides users access to over 170 decentralized applications (dapps), with plans to expand the ecosystem significantly in the near future. Notable dapps already deployed on X Layer include the decentralized exchange QuickSwap, community-building platform Galxe, and infrastructure platform Thirdweb.
To further enhance the user experience, OKX has integrated X Layer with its Web3 Wallet, allowing users to view, transfer, and trade X Layer assets on OKX’s DEX and NFT Marketplace. This integration also enables users to seamlessly interact with the growing number of dapps deployed on the network.
Polygon CEO Marc Boiron praised the launch of X Layer, calling it “a monumental next step in the industry’s ambition to build a truly unified Web3.” He added that “X Layer’s connection to the AggLayer solves the fragmentation of liquidity and users across chains.”
As the Web3 ecosystem continues to evolve, the launch of X Layer demonstrates OKX’s commitment to providing its users with cutting-edge technology and a seamless, interoperable experience. With the backing of Polygon’s CDK and AggLayer, X Layer is well-positioned to become a major player in the layer-2 scaling solutions space, challenging established competitors and driving innovation in the industry.
