OKX, a cryptocurrency exchange, has officially launched the public mainnet of its new Ethereum (ETH) layer-2 (L2) network. During the testnet stage, the L2 network, known as “X Layer,” onboarded over 200 decentralized apps (DApps), as announced by the exchange. The network’s DApps consist of approximately 40 decentralized finance (DeFi) projects, 12 infrastructure projects, five growth tools, 12 bridges, 16 wallets, 10 social finance (SocialFi) platforms, and 10 non-fungible token (NFT) and gaming-focused projects.
Prominent DeFi projects on X Layer include Curve (CRV), Renzo, and the decentralized exchange (DEX) QuickSwap. Haider Rafique, the Chief Marketing Officer of OKX, stated that the current focus of X Layer is to attract as many developers and users as possible. The objective is to make it more cost-effective and efficient for millions of people to engage with on-chain applications through their Zero-Knowledge Proof (ZK) powered, EVM compatible L2 network.
Rafique added that X Layer aims to reduce transaction fees and increase the number of transactions per second by optimizing transaction batching and approvals. The goal of X Layer is to unlock and accelerate the global adoption of the Web3 economy, thereby providing greater individual freedom and opportunities to millions worldwide. OKX, headquartered in the Seychelles, currently ranks as the third-largest crypto exchange in terms of trading volume, trailing only Binance and Bybit, according to CoinGecko.
