OKX Launches X Layer Public Mainnet to Bring Its 50M Users On-Chain

OKX Launches X Layer Public Mainnet to Bring Its 50M Users On-Chain

SINGAPORE, April 15, 2024 /PRNewswire/ — OKX, a leading crypto exchange and Web3 technology company, has announced the launch of the public mainnet of X Layer, its innovative and secure Ethereum-based Zero Knowledge (ZK) Layer-2 (L2) network. This network, built with the Polygon CDK, aims to enable shared state and liquidity across multiple chains via the AggLayer.

X Layer utilizes advanced technology to make interactions with on-chain applications cheaper and faster for millions of users. By leveraging ZK proofs, transactions are made secure and scalable while reducing costs. The network is EVM-compatible, allowing Ethereum-based decentralized apps (dApps) to be seamlessly deployed on it with minimal development effort.

Haider Rafique, OKX Chief Marketing Officer, stated, “X Layer is for visionary builders who are creating applications to help bring millions of people on-chain. We envision X Layer and other Layer-2 chains as the highway infrastructure of the Web3 world, with dApps as the marketplaces and self-hosted wallets as the vehicles that take you there.”

Since its mainnet beta unveiling in November 2023, X Layer has experienced rapid adoption, with over 50 Web3 dApps deploying on it within a week of its testnet launch. Prominent applications such as The Graph, Curve, LayerZero, QuickSwap, Galxe, Timeswap, and many others are in the process of being deployed on X Layer. Users can now leverage the network to transfer assets, deposit and withdraw crypto on OKX, and access over 170 dApps offering various functionalities.

OKX, one of the largest crypto exchanges by daily trading volume, custodies over US$22 billion of crypto on its platform and boasts over 50 million users globally. The OKX Wallet provides access to over 90 blockchains and aggregators for DEX and NFT marketplaces, making it a hub for a diverse community.

X Layer, powered by Polygon CDK, benefits from a cutting-edge, ZK-based software toolkit tailored for blockchain developers. The network’s connection to the AggLayer allows for seamless transition of liquidity between X Layer and other chains powered by Polygon CDK, enhancing overall community size and access to liquidity.

Polygon CEO Marc Boiron commented, “X Layer is a monumental next step in the industry’s ambition to build a truly unified Web3. The X Layer’s connection to the AggLayer solves the fragmentation of liquidity and users across chains, allowing them to grow together.”

For further information, please contact: Media@okx.com

About OKX
OKX is a leading global crypto exchange and Web3 company, trusted by over 50 million users worldwide. The platform aims to supercharge the fan experience with new engagement opportunities and is committed to transparency and security.

About Polygon Labs
Polygon Labs develops Ethereum scaling solutions for Polygon protocols, providing scalable, affordable, secure, and sustainable blockchain infrastructure for Web3. The existing Polygon network hosts major Web3 projects and enterprises and is carbon neutral.

This news story was originally published on PRNewswire.