OKX believes that their Layer 2 network is the “highway system of the Web3 World.”
Layer X, the layer 2 network of OKX, has been launched on mainnet.
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Posting April 16, 2024, 2:11 AM EST.
The crypto exchange OKX launched its public mainnet for the Ethereum Layer 2 network, X Layer. It was built with the Polygon Chain Development Kit.
On a Monday AnnouncementThe exchange stated that X Layer was now on the mainnet, and the OKX exchange token would be the native token of the network. OKB’s price was trading around $61.54 as of the writing, up more than 16% in the past day.
X Layer was built using Polygon’s Chain Development Kit. It will allow shared liquidity between multiple chains by using Polygon’s AggLayer – a protocol decentralized that aggregates proofs of zero-knowledge from linked chains, and provides safety for cross-chain transactions.
Polygon CEO Marc Boiron said that the AggLayer connection will resolve the problem of fragmented users and liquidity across chains. This layer 2 will allow OKX to add its 50 million users.
Haider Rafique, Chief Marketing Officer at OKX said: “We see X Layer chains and Layer-2 chains serving as highways in the Web3 world. dApps will serve as marketplaces while self-hosted wallets are the vehicles to get you there.”
In less than a week after the Layer 2 testnet went live in November, over 50 decentralized apps (dApps), were deployed to the network. Several well-known names from the decentralized finance industry (DeFi), such as Curve and LayerZero are now in the process deploying their Layer X applications.
The network will allow users to transfer assets, deposit and withdraw crypto from OKX, and to access over 170 dApps that include the capability to trade, stake, and interact with Smart Contracts.
According to reports, OKX has a market share of 6.87% and is the second-largest crypto exchange in terms of monthly trading volume after Binance. The following are some of the most effective ways to increase your ROI: The Block. The Block is the second exchange in the world to have launched its own Layer 2 network after Coinbase Base. Growth Over the past few months, there have been a number of changes.