Cryptocurrency exchange OKX announced on Tuesday (16th) the launch of the X Layer, a public mainnet for Ethereum Layer 2 network. The network is developed based on Zero-Knowledge Proof (ZK) technology and built through the Polygon Chain Development Kit (CDK). OKX’s native asset, OKB, will be used to pay for transactions on the X Layer network.
Haider Rafique, the Chief Marketing Officer of OKX, stated:
X Layer was previously known as “X1” and was launched on the testnet in November last year. Within a week, it deployed over 50 dApps. According to a statement shared with The Block, many Web3 and DeFi applications are already using this Layer 2 network, including The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap.
According to the statement, X Layer has been integrated with OKX exchange and OKX Web3 wallet, allowing users to seamlessly bridge assets from both platforms to X Layer and interact with multiple dApps deployed on the network for token trading, staking, and other smart contract applications. OKX also added that its 50 million global users provide a large potential user base and sufficient liquidity for X Layer.
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OKX
As the news of X Layer’s launch on the public mainnet came out, the price of the OKB token increased from around $54 to $60 within 12 hours, representing a growth of over 10%.
Utilizing Polygon’s CDK and AggLayer
X Layer is a ZK rollup solution built using Polygon’s CDK, an Ethereum scaling solution. It aims to increase transaction throughput and reduce costs while maintaining the security of the Ethereum network. Since X Layer is compatible with the Ethereum Virtual Machine (EVM), existing Ethereum-based applications can be easily deployed on the network without extensive development work.
Polygon Labs released the CDK software toolkit in August 2023, enabling developers to build zero-knowledge proof-driven Layer 2 chains for Ethereum. Multiple projects such as Immutable, Astar, Canto, Palm Network, Aavegotchi, IDEX, Nubank, and Manta Network are already using or planning to use Polygon CDK to develop their Layer 2 networks, and OKX has also contributed to this technological stack.
X Layer will connect with other networks powered by Polygon CDK through Polygon’s blockchain aggregation layer, AggLayer, expanding the ecosystem’s scale and achieving state sharing and unified liquidity between multiple chains.
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