OKX Launches Its Own Layer 2 Network To Join Immutable And Others In The Growing Polygon Ecosystem

Updated: 16 April 2024

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Crypto exchange OKX launched the mainnet of its Ethereum-based zero-knowledge Layer 2 network, called X Layer.

“We envision X Layer and other Layer 2 chains as the highway infrastructure of the Web3 world,” said OKX CMO Haider Rafique. “In pursuit of this vision, we are building an ecosystem that is as seamless and interoperable as possible.”

OKX Launches Its Layer 2 After The Successful Debut Of Its Testnet

The mainnet launch comes after the testnet went live in November last year. More than 50 decentralized applications were deployed on the test network within the first week of it going live, and OKX’s team is now looking to carry over this momentum onto the mainnet.

The Graph, LayerZero, Curve, QuickSwap, Timeswap and Galxe are among the list of decentralized applications that are already utilizing the Layer 2 network.

Hiya creators, builders, founders 👩‍💻👨‍💻

🚨 We're opening X Layer Mainnet to the Public 🚨

With +200 dApps building, X Layer is now accessible to everyone, not just developers.

Experience the power & security of our zkEVM L2 network firsthand.

Start building:… pic.twitter.com/K59dg0sJrG

— X Layer (@XLayerOfficial) April 16, 2024

X Layer’s mainnet launch gives users access to over 170 decentralized applications, while also granting them the ability to deposit and withdraw crypto via OKX, the exchange said.

With OKX’s 50 million users globally, X Layer already has access to a vast potential user base as well as a great amount of liquidity at its disposal.

The company confirmed that OKX’s native token, OKB, will feature as a utility token within the Layer 2 network as well. This means that transaction fees on the chain will be paid in OKB.

Joining The Interconnected Polygon Ecosystem

X Layer will also be connected with other networks that are powered by Polygon’s CDK, which the team used to develop the network.

As a result, X Layer will be able to connect with Immutable, Astar, Canto, Palm Network, Aavewotchi, IDEX, Manta Network and Nubank, who are all either using or plan to use the CDK to develop their own Layer 2 networks. Through Polygon’s “AggLayer,” X Layer will gain access to unified liquidity across the multiple chains as well

“X Layer is a monumental next step in the industry’s ambition to build a truly unified Web3,” said Polygon Labs CEO Marc Boiron. “The X Layer’s connection to the AggLayer solves the fragmentation of liquidity and users across chains on the AggLayer so they can all grow together.”