Quick take:
- OKX will use the new platform to connect its 50 million+ community to the wider Polygon and Ethereum ecosystem.
- The crypto exchange company will also become a core contributor to the Polygon CDK.
- X1 becomes OKX’s native network and will use the OKB token as the utility token for gas fee payments on the network.
OKX has launched the X1 Network on the zkEVM testnet. The Ethereum-based zero-knowledge (ZK) Layer 2 network is built with the Polygon Chain Development Kit (CDK).
Announcing the testnet launch via a post on X (formerly Twitter), Polygon Labs said OKX’s new platform allows “anyone to take part in a truly secure and unified global on-chain ecosystem.”
As part of the partnership, OKX will also become a contributor to Polygon CDK. The Polygon CDK enables developers to build their own zero-knowledge-proofs powered layer-2 networks custom-fitted to their needs.
According to the announcement, X1 will serve as OKX’s new native network, connecting its more than 50 million users to the broader Polygon and Ethereum communities. The platform will utilise OKX’s native token OKB to facilitate gas payments on the network.
Zero-knowledge proofs allow developers to build secure and highly scalable platforms while also reducing transaction costs. X1’s compatibility with Ethereum allows developers to launch EVM-decentralised apps including DeFi protocols, smart contracts, as well as, Web3 wallets and tools.
Commenting on the announcement, OKX Chief Innovation Officer Jason Lau said: “X1 will be a key pillar of our efforts to educate and bring our users onchain and into the world of Web3. This scalable and accessible network is perfect for developers, who can build on X1 to deliver user-friendly world-class consumer Web3 applications, all while maintaining interoperability with other networks and ecosystems.”
According to Lau, his company’s collaboration with Polygon will “bring more builders, more use cases, and ultimately the mass adoption of Web3.”
OKX is not the first company to leverage the Polygon CDK to build a ZK-based layer-2 network. Near, Astar, Canto, Gnosis Pay, Palm, and IDEX are among the early adopters.
“The utilization of Polygon CDK technology represents a significant leap forward, enabling developers to design and deploy ZK L2 solutions on Ethereum with ease,” Polygon co-founder Sandeep Nailwal said. “Looking ahead, Polygon CDK-deployed chains can interoperate and coexist within a larger network of ZK-powered L2s in the Polygon CDK ecosystem. We’re excited to collaborate with OKX’s team to advance this technology and drive the success of the X1 network.”
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