Centralized cryptocurrency exchange OKX on Monday evening launched the public mainnet of X Layer, an Ethereum-based zero-knowledge layer 2 network leveraging the Polygon Chain Development Kit.
“We envision the “In pursuing this vision, we are building an ecosystem that is as seamless and interoperable as possible.”
X Layer, previously called “X1,” launched on testnet in November, with more than 50 decentralized applications deployed within a week. Web3 and DeFi apps, including The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap, are among those already leveraging layer 2 networks, according to a statement shared with The Block.
X Layer allows users to deposit and withdraw cryptocurrencies through OKX and access more than 170 dapps that enable token exchanges, staking and other smart contract applications, the cryptocurrency exchange said. OKX’s 50 million users worldwide give X Layer a significant potential user base and ample liquidity, he added.
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serves as the base asset of the X Layer for paying transaction fees on the network.
OKX is currently the second-largest cryptocurrency exchange by monthly trading volume, behind Binance, having generated more than $60 billion in transactions so far this month, according to The Block’s data dashboard.
Leveraging Polygon’s CDK and AggLayer
X Layer is a ZK rollup solution built using Polygon’s CDK. It is designed to increase transaction throughput and reduce costs while maintaining the security of the Ethereum network. X Layer is EVM-compatible, so existing Ethereum-based apps can be easily deployed on Layer 2 without significant development work.
Polygon Labs launched the CDK software toolkit in August 2023, allowing developers to build layer 2 chains for Ethereum powered by zero-knowledge proofs.
Several projects such as Immutable, Astar, Canto, Palm Network, Aavegotchi, IDEX, Nubank, and Manta Network also use or plan to use Polygon CDK to develop Layer 2 networks, and OKX is also contributing to the technology stack.
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“X Layer is a monumental next step in the industry’s ambition to build a truly integrated Web3. X-Layer’s connection to AggLayer addresses the fragmentation of liquidity and users across AggLayer’s chains, allowing them all to grow together,” said Marc Boiron, CEO of Polygon Labs. “OKX’s 50 million users now have an easy onboarding path to X Layer and all other chains connected to AggLayer.”
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