OKX Launches X Layer, Its ZK-Powered, EVM-Compatible Layer 2 Network

OKX has launched the public mainnet of its EVM-compatible Layer 2 network, X Layer. The Polygon CDK-powered L2 integrates with over 200 dApps across DeFi, wallets, NFTs, and gaming. X Layer offers a faster and cheaper alternative for accessing dApps on Ethereum and bridging assets from the OKX CEX and Web3 Wallet.

OKX Launches Public Mainnet of EVM-Compatible Layer 2 Network, X Layer

New Delhi, India - April 20, 2023 - OKX, one of the world's largest crypto exchange companies, has announced the highly anticipated launch of the public mainnet for its zero-knowledge (ZK), EVM-compatible Layer 2 network, "X Layer." This marks a significant milestone in the company's mission to enhance scalability and accessibility within the blockchain ecosystem.

Polygon CDK-Powered L2 Integrates with Over 200 dApps

X Layer leverages the Polygon Chain Development Kit (CDK) to seamlessly integrate with over 200 decentralized applications (dApps) already onboarded during the network's testnet phase. These dApps span various categories such as DeFi, wallets, NFTs, and gaming.

Bridging the Gap between CEX and DeFi

X Layer's integration with OKX's centralized exchange (CEX) platform and the OKX Web3 Wallet further strengthens the bridge between traditional centralized exchanges and the decentralized finance (DeFi) sphere. Users can now tap into the vast array of dApps on Ethereum and seamlessly bridge assets from the OKX CEX and Web3 Wallet onto X Layer.

Cheaper and Faster Transactions

OKX's Chief Marketing Officer, Haider Rafique, highlighted the network's core objective: "Our aim is to make it significantly cheaper and faster for millions of users to interact with on-chain applications through our ZK-powered, EVM-compatible L2 network."

Diverse Range of Applications

The mainnet launch brings forth a diverse ecosystem of dApps, including 40 DeFi projects, 20 infrastructure applications, 12 bridges, 16 wallets, 10 NFT and gaming applications, 10 SocialFi applications, and numerous dev tooling dApps. Notable DeFi dApps on X Layer include Chainlink, Curve, Renzo, and QuickSwap, while infrastructure applications include LayerZero, Wormhole, and EigenLayer (DA).

Unlocking Web3 Adoption

Rafique expressed the broader vision for X Layer: "We believe that X Layer will play a pivotal role in unlocking and accelerating the adoption of the Web3 economy."

OKB as Native Asset

OKB, the native token of OKX, serves as the native asset for the X Layer network. Users will utilize OKB to pay for transaction fees, further strengthening the utility and value of the token within the OKX ecosystem.

Conclusion

The launch of X Layer's public mainnet marks a major step forward in OKX's commitment to fostering innovation and accessibility within the blockchain industry. With its ZK architecture, EVM compatibility, and extensive dApp integration, X Layer is poised to revolutionize the way users interact with decentralized applications. As Web3 continues to gain momentum, X Layer is well-positioned to play a significant role in shaping its future.