OKX officially launched the public mainnet of “X Layer,” an Ethereum Layer2 solution based on ZK technology, today (16th).
X Layer is an Ethereum Layer-2 network based on zero-knowledge (ZK) technology, built on Polygon CDK, and achieves shared state and liquidity among multiple chains through AggLayer, providing innovation and security.
X Layer utilizes advanced technology to allow millions of users to interact with on-chain applications more cost-effectively and efficiently. In addition to ensuring transaction security, scalability, and cost reduction through ZK technology, X Layer is also compatible with the Ethereum Virtual Machine (EVM), allowing dApps built on Ethereum to be seamlessly deployed without significant development work.
Haider Rafique, Chief Marketing Officer of OKX, said, “Since the release of its testnet in November 2023, the adoption of X Layer has grown rapidly, with over 50 Web3 dApps deployed on its testnet within a week of release. Many well-known applications such as The Graph, Curve, LayerZero, QuickSwap, Galxe, Timeswap, and others are also being deployed on X Layer.”
Global users can now transfer, store, and withdraw virtual assets on OKX through the X Layer network, as well as access services from over 170 dApps, including exchange and staking through smart contracts. With the official launch of X Layer to the public, the number of dApps is expected to grow exponentially.
Currently, OKX is one of the world’s largest virtual asset exchanges in terms of daily trading volume (including spot and derivatives), with over $22 billion of virtual assets hosted on the platform. At the same time, OKX Wallet is also one of the most advanced gateways to the Web3 world, supporting over 90 public chains and providing a powerful DEX and NFT marketplace aggregator.
With over 50 million users worldwide, OKX is a global hub for a diverse community, ensuring that X Layer has a large user base and sufficient liquidity at launch. OKB, the platform token of OKX, will serve as the native token of the X Layer network for gas payment.
Polygon CDK is an advanced software development toolkit tailored for blockchain developers and based on ZK, making it easy for developers to build new L2 on Ethereum. X Layer is also driven by this innovative toolkit. OKX developers will also contribute to Polygon CDK to ensure continuous innovation and improvement of X Layer’s core technology stack. In addition, X Layer will be connected to other chains driven by AggLayer and Polygon CDK, achieving seamless transition of liquidity and enhancing the community size and liquidity of X Layer.
Marc Boiron, CEO of Polygon, said, “About OKX
OKX is a leading technology company dedicated to building the future of Web3. OKX has developed virtual asset applications that combine speed and reliability, and is favored by over 50 million global investors and professional traders.
OKX’s industry-leading self-custody solutions include OKX Web3 Wallet service, which allows users to have more control over their virtual assets while exploring DEX, NFT markets, GameFi, and thousands of dApps.
OKX has close partnerships with world-class brands and athletes, including English Premier League champions Manchester City F.C., McLaren F1 Team, Tribeca Festival, golfer Ian Poulter, and Olympic snowboarder Scotty James.
OKX is committed to transparency and security and releases its Reserve Proof Report monthly.