OKX launches X Layer, a Polygon-powered Layer-2 solution that offers seamless integration with its exchange and Web3 wallet to drive adoption and innovation in decentralized applications.
Seamless Integration To Bridge Assets
Leading crypto exchange OKX has officially launched the public mainnet of its Layer-2 solution, X Layer. In addition to the OKX Exchange (CEX), the X Layer is also integrated with the OKX Web3 Wallet. This integration will allow users to seamlessly bridge assets from the two platforms to the X Layer and more than 200 decentralized applications.
According to Polygon Labs CEO Mark Boiron,
“OKX’s 50 million users now have an easy path to onboarding to X Layer and all the other chains connected to the AggLayer.”
Empowering Developer Community
The news was announced via a public statement from OKX Chief Marketing Officer Haider Rafique, published on the company website. According to the announcement, the X Layer has been developed to ensure multiple protocols can function together, thus enhancing the blockchain's scalability.
This facilitation helps on-chain developers build their own chains, as it allows them to implement zero-knowledge technology using the customizable toolkit known as the Chain Development Kit (CDK).
Other major crypto exchanges, like Coinbase and Kraken have also been pursuing their own layer-2 networks. Coinbase has already launched its Base blockchain in August 2023, built on Optimism’s OP Stack.
Progress Since Testnet
The project has been seeing tremendous success from its testnet phase, during which over 200 dApps and thousands of developers flocked to its offering of a less expensive and faster network to access on-chain apps involving DeFi, infrastructure, bridges, growth tools, wallets, NFTs, gaming, and SocialFi.
Among the notable dApps onboarded on X Layer are popular DeFi platforms like Curve, Renzo, and QuickSwap, as well as infrastructure applications such as LayerZero, Wormhole, and EigenLayer.
Rafique writes,
“X LAYER combines the OKX symbol of X - for openness and interoperability - with the word LAYER, which represents different types of protocols that work together to improve the scalability of a blockchain network. X LAYER is built to be versatile, not restricting innovation to a single use case. We envision onchain developers using X LAYER and its infrastructure to create new "Layers" for a multitude of use cases.”
Focus on Expansion and User Adoption
The company’s announcement revealed that its main focus now is to attract a significant number of developers and users to the platform.
Among its long-term objectives, the OKX team has committed to developing user-friendly dApps by improving interoperability, empowering builders and creators through an advanced tech stack and comprehensive support, and finally, enhancing the on-chain experience by improving transaction throughput and interaction design.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
