Crypto exchange OKX has launched the public mainnet of its new Ethereum (ETH) layer-2 (L2) network.
The L2, dubbed “X Layer,” onboarded more than 200 decentralized apps (DApps) during its testnet phase, according to a new announcement from the exchange.
OKX says the network’s DApps include approximately 40 decentralized finance (DeFi) projects, 12 infrastructure projects, five growth instruments, 12 bridges, 16 wallets, 10 social finance (SocialFi) platforms and 10 non-fungible token (NFT) and gaming -oriented projects.
Popular DeFi projects on X Layer include Curve (CRV), Renzo, and decentralized exchange (DEX) QuickSwap.
OKX Chief Marketing Officer Haider Rafique says X Layer’s current focus is on onboarding as many developers and users as possible.
“Our goal is to make it cheaper and faster for millions of people to access and exit on-chain applications over our Zero-Knowledge Proof (ZK) powered, EVM-compatible L2 network.”
Rafique says the X Layer aims to reduce transaction costs and increase the number of transactions per second by “optimizing transaction batches and approvals.”
“X Layer aims to unlock and accelerate global adoption of the Web3 economy, empowering millions of people worldwide with greater individual freedom and opportunity. We are incredibly excited about what is to come and welcome you to join us as we work to bring X Layer’s vision to life.”
OKX, headquartered in the Seychelles, is currently the third largest crypto exchange by trading volume, behind only Binance and Bybit, according to Coin gecko.
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