Uniswap DEX Debuts on X Layer
Decentralized exchange UniSwap has launched on X Layer, an Ethereum Layer-2 network. The integration aims to enable cross-chain decentralized applications with more cost-efficient infrastructure, reflecting a broader trend toward improving DeFi interoperability.
- X Layer is a zero-knowledge (ZK) powered Layer-2 network developed by the cryptocurrency exchange OKX using Polygon's Chain Development Kit (CDK). - The public mainnet of X Layer went live in April 2024 and is part of an ecosystem that includes over 200 decentralized applications (dApps). - For users, a key feature of this launch is the ability to swap and provide liquidity on X Layer through the Uniswap web app and wallet with zero Uniswap Labs interface fees. - The network utilizes OKB, the native token of the OKX platform, to pay for gas fees for transactions. - This deployment is part of Uniswap's broader multi-chain strategy and was approved by Uniswap governance token holders prior to the launch. - From a technical standpoint, X Layer is Ethereum Virtual Machine (EVM) compatible, which allows for the straightforward deployment of existing Ethereum-based applications like Uniswap. - The collaboration is intended to connect OKX's user base of over 50 million people to the on-chain DeFi ecosystem.
