OKX Introduces X Layer Public Mainnet! What is it? What are its features?
OKX, the world’s second-largest cryptocurrency exchange, has recently announced the official launch of the X Layer public mainnet.
X Layer is an Ethereum Layer-2 (L2) network based on zero-knowledge (ZK) technology, built on Polygon CDK, and achieves shared state and liquidity between multiple chains through AggLayer, offering both innovation and security.
X Layer utilizes advanced technology to allow millions of users to interact with on-chain applications more affordably and efficiently. In addition to providing 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 extensive development work.
Haider Rafique, Chief Marketing Officer of OKX, stated, “X Layer is designed for visionary developers who are creating different applications to bring millions of people to the chain. We can imagine X Layer and other L2 chains as the high-speed infrastructure highways of the Web3 world, with dApps as the market and self-custody wallets as the vehicles that bring users there. To achieve this vision, we are building an ecosystem that is as seamless and interoperable as possible. With the support of our strong community and connections to other Ethereum networks, we believe X Layer has unlimited potential.”
Polygon CEO: X Layer can solve cross-chain liquidity fragmentation
The adoption of X Layer has grown rapidly since the release of its mainnet testnet in November 2023, with over 50 Web3 dApps deployed on its testnet within a week of its launch.
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 exchanges and staking through smart contracts.
With the official public launch of X Layer, the number of dApps is expected to grow exponentially.
OKX is one of the world’s largest virtual asset exchanges in terms of daily trading volume (including spot and derivative products), with over $22 billion in virtual assets under custody. 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.
Currently, OKX has over 50 million users worldwide, serving as a global hub for a diverse community, ensuring that X Layer already has a large user base and sufficient liquidity upon its launch. OKB, the platform’s native token, will be used 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 solutions for Ethereum. X Layer is also powered by this innovative toolkit.
OKX developers will also contribute to Polygon CDK, ensuring continuous innovation and improvement of the core technology stack of X Layer. Additionally, X Layer will connect with other chains powered by Polygon CDK through AggLayer to achieve seamless liquidity transition, enhancing the community scale and liquidity of X Layer.
Marc Boiron, CEO of Polygon, stated, “X Layer is a significant milestone in building a truly unified Web3 industry. The connection between X Layer and AggLayer solves the liquidity fragmentation problem for users across AggLayer, enabling mutual growth. OKX’s 50 million users can now easily log into X Layer and other chains connected to AggLayer. The impressive lineup of developers building applications on X Layer demonstrates the network’s potential, and we look forward to continuing our collaboration with OKX to achieve our shared industry goals.”