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We today announced that QuickSwap, a DEX and automated market maker built on Polygon, Polygon zkEVM and Dogechain, now supports the testnet version of X Layer. X Layer is our 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, by selecting 'X Layer' from the chain drop-down menu on the QuickSwap website. X Layer 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 X Layer mainnet.
The initiative further enhances the ecosystems of both QuickSwap and X Layer, creating more opportunities for users and developers. Since its launch in November 2023, the X Layer testnet already hosts over 50 Web3 projects, including Galxe, Particle Network, Math Wallet, Star Protocol, SoQuest, Owlto Finance and Ruby DEX.
X Layer serves as our 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. X Layer 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. It also provides connectivity with a wide range of smart contracts, wallets and tools.
A letter from OKX Founder and CEO Star Xu
As the CEO of OKX, and a builder at heart, I'm proud to reflect on an extraordinary year of growth and progress. Despite challenges, 2024 was a year of focus, innovation, and resilience. We expanded and enhanced our products, made significant strides in bringing to market a transparent and regulatory compliant onshore business, and added weight to our already deep global executive bench. Most notably, 2024 marked a turning point for the industry, serving as crypto's "comeback year" after a period of heightened uncertainty.
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Trading
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Trading perpetual contracts used to mean navigating separate order books for USD, USDC, and USDG margined contracts. That fragmentation made liquidity shallow and pricing inconsistent. Wider spreads, higher slippage, and poor execution were common, especially for larger trades.