OKX Launches Ethereum Layer-2 Network, Onboards Over 200 DApps

Crypto exchange OKX has launched the public mainnet of its new Ethereum (ETH) layer-2 (L2) network, "X Layer." This L2 network aims to enhance scalability and reduce transaction fees for users by optimizing transaction batching and approvals.

Crypto Exchange OKX Launches Ethereum Layer-2 Network, Onboards Over 200 DApps

SEYCHELLES, [Date] - OKX, a leading global cryptocurrency exchange, has announced the official launch of the public mainnet of its new Ethereum (ETH) layer-2 (L2) network, "X Layer."

Initial Project Integration

During its testnet phase, X Layer successfully onboarded over 200 decentralized applications (DApps), spanning various categories within the blockchain ecosystem. These DApps include:

• Approximately 40 decentralized finance (DeFi) projects
• 12 infrastructure projects
• 5 growth tools
• 12 bridges
• 16 wallets
• 10 social finance (SocialFi) platforms
• 10 non-fungible token (NFT) and gaming-focused projects

Among the notable DeFi projects integrated into X Layer are Curve (CRV), Renzo, and the decentralized exchange (DEX) QuickSwap.

Vision for Expansion

Haider Rafique, Chief Marketing Officer of OKX, emphasized the network's focus on developer and user onboarding: "Our objective is to make it cheaper and faster for millions of people to go in and out of on-chain applications through our Zero-Knowledge Proof (ZK) powered, EVM compatible L2 network."

Rafique highlighted the network's aim to reduce transaction fees and increase transactions per second through optimized transaction batching and approvals.

Unlocking Web3 Potential

X Layer's mission is to accelerate the global adoption of the Web3 economy by providing greater individual freedom and opportunities worldwide. Rafique expressed excitement for the network's future and welcomed developers and users to join their journey.

OKX's Global Presence

Headquartered in the Seychelles, OKX ranks as the third-largest crypto exchange by trading volume, trailing only Binance and Bybit, according to CoinGecko. The launch of X Layer marks a significant step for OKX in expanding its offerings and contributing to the growth of the Ethereum ecosystem.