OKX, a Web3 technology company, announced that QuickSwap, a DEX and automated market maker built on Polygon, Polygon zkEVM and Dogechain, now supports the testnet version of X1.
X1 is OKX’s new zkEVM Layer 2 network, “developed using the Polygon Chain Development Kit (CDK).”
With this addition, users can “explore the solutions offered by the QuickSwap platform, including its token swap, liquidity pool and perpetual DEX.”
As noted in a blog post, X1 reportedly provides “a highly secure and scalable environment for QuickSwap to showcase its features and capabilities, setting the stage for the eventual rollout of the QuickSwap DEX on the X1 mainnet.”
The initiative further enhances “the ecosystems of both QuickSwap and X1, creating more opportunities for users and developers.”
Since its launch in November 2023, the X1 testnet already “hosts more than 50 Web3 projects, including Galxe, Particle Network, Math Wallet, Star Protocol, SoQuest, Owlto Finance and Ruby DEX.”
OKX Chief Innovation Officer Jason Lau said:
“More than fifty Web3 projects and protocols across various verticals are already building on X1. It’s great to see Quickswap looking to X1 to scale and provide a smooth and powerful decentralized exchange experience for the OKX community and its users.”
X1 serves as OKX’s new native network, “with the goal of providing users and developers access to the world’s biggest blockchain ecosystems. It is a state-of-the-art, user-friendly protocol designed for builders, creators and Web3 enthusiasts.”
X1 utilizes ZK proofs, “ensuring high security and scalability while reducing transaction costs.”
The network is compatible with Ethereum, “allowing seamless and secure deployment of EVM-based DApps.”
As explained in the announcement, it also “provides connectivity with a wide range of smart contracts, wallets and tools.”
Founded in 2017, OKX is one of the cryptocurrency spot and derivatives exchanges.
OKX adopted blockchain technology “to reshape the financial ecosystem by offering some of the most diverse and sophisticated products, solutions, and trading tools on the market.”
“Trusted” by more than 50 million users in over 180 regions globally, OKX strives “to provide an engaging platform that empowers every individual to explore the world of crypto.”
In addition to its DeFi exchange, OKX serves its users “with OKX Insights, a research arm that is at the cutting edge of the latest trends in the cryptocurrency industry.”
With its range of crypto products and services, and unwavering commitment to innovation, OKX’s vision is “a world of financial access backed by blockchain and the power of decentralized finance.”