- Dozens of top-tier Web3 and DeFi apps, including The Graph,
Curve, LayerZero, QuickSwap, Galxe, Timeswap and many more are
already leveraging OKX's innovative L2 network.
SINGAPORE, April 16, 2024 /PRNewswire/ -- OKX, a
leading crypto exchange and Web3 technology company, today launched
the public mainnet of X Layer, its innovative and secure
Ethereum-based Zero Knowledge (ZK) Layer-2 (L2) network built with
the Polygon CDK to enable shared state and liquidity across
multiple chains via the AggLayer.
X Layer uses advanced technology to make it cheaper and faster
for millions of users to interact with on-chain applications. The
network utilizes ZK proofs, making transactions secure and scalable
while also reducing costs. It is also EVM-compatible, meaning
Ethereum-based decentralized apps (dApps) can be seamlessly
deployed on it without much development effort.
OKX Chief Marketing Officer Haider
Rafique said: "X Layer is for visionary builders who are
creating applications to help bring millions of people on-chain. We
envision X Layer and other Layer-2 chains as the highway
infrastructure of the Web3 world, with dApps as the marketplaces
and self-hosted wallets as the vehicles that take you there. In
pursuit of this vision, we are building an ecosystem that is as
seamless and interoperable as possible. We think X Layer has
limitless potential thanks to our strong community and its
connectivity with other Ethereum-based networks."
X Layer has experienced rapid growth in adoption since its
mainnet beta unveiling in November
2023, with over 50 Web3 dApps deploying on it within a week
of its testnet launch. Many other prominent applications are also
in the process of being deployed on X Layer, including The Graph,
Curve, LayerZero, QuickSwap, Galxe, Timeswap and others. Users
around the world can now leverage the X Layer network to transfer
assets, deposit and withdraw crypto on OKX and access over 170
dApps offering the ability to swap, stake and interact with smart
contracts. The number of dApps is slated to increase exponentially
with the official opening of X Layer to the general public.
Today, OKX is one of the biggest crypto exchanges by daily
trading volume (both spot and derivatives) and custodies over
US$22 billion of crypto on its
platform. Meanwhile, the OKX Wallet is one of the most advanced
gateways to the Web3 world, offering access to over 90 blockchains
and aggregators for DEX and NFT marketplaces. The exchange boasts
over 50 million users globally, making it a worldwide hub for a
diverse community and ensuring the network launches with a
significant potential user base with ample liquidity. OKX's
platform token OKB will serve as X Layer's native token for the
purpose of gas fees on the network.
Powered by Polygon CDK, X Layer benefits from a cutting-edge,
ZK-based software toolkit tailored for blockchain developers. This
innovative toolkit empowers developers to effortlessly build new L2
chains for Ethereum. At a technical level, OKX developers will also
be contributing to Polygon CDK, ensuring that the core tech stack
powering X Layer continues to innovate and improve. Additionally, X
Layer will be joined by other chains powered by Polygon CDK via
the AggLayer. Connecting to the AggLayer allows seamless
transition of liquidity between X Layer and these other chains,
thus bolstering X Layer's overall community size and access to
liquidity.
Polygon Chief Executive Officer Marc
Boiron said: "X Layer is a monumental next step in
the industry's ambition to build a truly unified Web3. The X
Layer's connection to the AggLayer solves the fragmentation of
liquidity and users across chains on the AggLayer so they can all
grow together. OKX's 50M users now
have an easy path to onboarding to X Layer and all the other chains
connected to the AggLayer. The impressive roster of talented
developers who have already started to build on X Layer is a
testament to the potential of the network, and we look forward to
continuing to collaborate with OKX to achieve our shared goals for
the industry."
For further information, please contact:
Media@okx.com
About OKX
OKX is a leading global crypto exchange and
innovative Web3 company. Trusted by more than 50 million global
users, OKX is known for being one of the fastest and most reliable
crypto apps in the world.
As a top partner of English Premier League champions Manchester
City FC, McLaren Formula 1 and Olympian Scotty James. OKX aims to
supercharge the fan experience with new engagement opportunities.
OKX is also the top partner of the Tribeca Festival as part of an
initiative to bring more creators into web3.
The OKX Wallet is the platform's latest offering for people
looking to explore the world of NFTs and the metaverse while
trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its
Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or
visit: okx.com
About Polygon Labs
Polygon Labs develops
Ethereum scaling solutions for Polygon protocols. Polygon Labs
engages with other ecosystem developers to help make available
scalable, affordable, secure and sustainable blockchain
infrastructure for Web3. Polygon Labs has initially
developed a growing suite of protocols for developers to gain easy
access to major scaling solutions, including Layer 2s
(zero-knowledge rollups), sidechains, app-specific chains and data
availability protocols. Scaling solutions that Polygon Labs
initially developed have seen widespread adoption with tens of
thousands of decentralized apps, unique addresses exceeding 400
million, 2 million smart contracts created and 3.5 billion total
transactions processed since inception. The existing Polygon
network is home for some of the biggest Web3 projects, such as
Aave, Uniswap, and OpenSea, and well-known enterprises, including
Adidas, Stripe and Adobe. Polygon Labs is carbon neutral with the
goal of leading Web3 in becoming carbon negative.
If you're an Ethereum Developer, you're already a Polygon
developer! Leverage Polygon's fast and secure transactions for
dApps you develop, get started here.
Website | Twitter | Developer Twitter
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This content is provided for educational and informational
purposes only. It does not constitute and shall not be considered
(i) investment advice or an investment recommendation; (ii) an
offer or solicitation to buy, sell or hold digital assets
(including NFTs or otherwise); or (iii) financial, accounting,
legal or tax advice.
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