X Layer

Ethereum Layer 2 (L2) network launched by the cryptocurrency exchange OKX. Despite being classified in some databases as an Optimistic Rollup, the network is technically built as a Zero-Knowledge Rollup based on the Polygon Chain Development Kit (CDK) and integrated into the AggLayer ecosystem for liquidity aggregation. The native currency is OKB , used for fees and governance. The public testnet launched in November 2023, and the official mainnet launched on April 16, 2024 (some sources cite April 15). The project is backed by XLAYER TECHNOLOGY COMPANY LIMITED and the X Layer Foundation. Key milestones: August 13, 2025 - a one-time burn of 65.26 million OKB, fixing the supply at 21 million tokens, accompanied by the PP Upgrade which increased throughput to ~5000 TPS and significantly reduced gas; May 2026 - launch of Exchange OS with Trade Zone, a permissionless environment for deploying high-performance trading venues. In terms of positioning, the network is most often compared to Base (Coinbase) and BNB Chain ( Binance ) due to its exchange origin and base of 50 million OKX users. The main competitive advantage is the use of ZK-proofs for security and near-instant finality, unlike the 7-day challenge window of Optimistic Rollups. Technical Architecture The network is an Ethereum L2 solution using Polygon CDK and AggLayer. The database lists the consensus as Optimistic Rollup , but it actually employs a ZK Rollup with a zkEVM-compatible virtual machine. After the PP Upgrade, throughput was increased to ~5000 TPS (current value - — ), average block time - — , fee - — . Validators: — . The network is part of AggLayer, enabling seamless state and liquidity sharing with other ZK chains. In May 2026, Exchange OS was launched, including Trade Zone with a theoretical capacity of up to 300,000 TPS for spot and futures markets. Currently, the network is at "Stage 0" or "Stage 1" rollup stage, working towards full decentralization of the sequencer and proof sets. Native Currency The token OKB (X Layer Global Utility Token) is used for gas fees and network governance. Initially, the supply was unlimited; on August 13, 2025, OKX performed a one-time burn of 65.26 million OKB, setting a hard cap of 21 million tokens. No additional issuance is planned. Staking OKB is not described in the documentation, but the token serves as gas and a governance tool. Gas economics were optimized by the PP Upgrade, and since December 2025, tax-free USDT and USDC transfers have been implemented in the OKX Wallet using the x402 protocol, subsidizing transaction costs for end users. Ecosystem and dApps The network's TVL is $77.14M . Leading protocols: in the DEX category - QuickSwap (migrated from Polygon immediately after launch), as well as SushiSwap, Curve, and iZiSwap. Lending and borrowing are represented by LayerBank (main liquidity pool) and Shoreline Finance. Liquid staking and restaking - Renzo and Puffer Finance, which integrated in mid-2024. The NFT ecosystem is centered on the OKX NFT Marketplace. Stablecoins: Tether (USDT) - since September 2025, USDT0 based on LayerZero OFT is used; Circle (USDC) - via the Bridged USDC Standard. In December 2025, gasless stablecoin transfers were introduced. The RWA sector is represented by a partnership with Ondo Finance for tokenizing US Treasury bonds, as well as integration with Chainlink Data Streams (June 2026) for real-time asset prices, including Tesla, Nvidia, and Apple stocks. Developers are supported by the $100 million X Layer Ecosystem Fund (announced in August 2025, managed by OKX Ventures). The Build X hackathon was held (early 2026), focused on AI-decentralized finance and agent finance, with grants ranging from $5,000 to over $50,000. During the testnet phase, over 200 dApps were active, attracted by the Cryptopedia and X Layer Builders programs. In early 2026, Aave Labs launched on-chain lending. Security and Incidents The only documented incident was a canonical bridge configuration vulnerability shortly after the mainnet launch (2024), which put approximately $1.8 million at risk of unauthorized withdrawal. The OKX security team applied emergency patches before any losses occurred. On October 27, 2025, during a planned technical update, block production was paused for about one hour (starting at 11:30 UTC+8). No other outages, successful exploits of the network or its bridges, or material losses have been publicly recorded as of July 2026. Audits and bug bounties are not mentioned in open sources. Regulatory compliance is ensured by VASP licenses in Dubai and Hong Kong, obtained through OKX. Related Individuals Star Xu (Mingxing Xu) - founder and CEO of OKX (formerly OKEx, launched in 2013). Personally announced the $100 million X Layer ecosystem fund and a three-phase roadmap at Token2049, including stablecoin launches (USDG) and integrations with Aave /Uniswap. Defines the network's strategy. Jeff Ren - founder and head of OKX Ventures, the investment arm that supported protocols deploying on X Layer (e.g., STBL for RWA stablecoins). Has given presentations on capital-efficient RWA products based on the network. Jason Lau - Chief Innovation Officer at OKX. Oversaw integrations with Chainlink (Data Streams, CCIP, Scale) for tokenized assets and Trade Zone infrastructure. Shen Chen - previously led X Layer business development at OKX, later left the company. Sources mention collaboration with Fay Liu and Ellie W on scaling the ecosystem. The legal entity is XLAYER TECHNOLOGY COMPANY LIMITED (operates the X Layer Foundation, responsible for documentation, developer tools, and website maintenance, while emphasizing that the permissionless chain itself is not controlled by the company). Operational responsibilities for security, patches, and ecosystem funding lie with OKX and OKX Ventures. Potential The network has several concrete growth factors: the launch of Exchange OS with Trade Zone, capable of processing up to 300,000 TPS, attracts institutional traders and market makers; integration with Polygon's AggLayer reduces liquidity fragmentation among ZK rollups; the growing presence of stablecoins (USDT0, USDC) provides low-risk onboarding; RWA support through Ondo Finance and Chainlink Data Streams opens access to traditional financial assets. The base of 50 million OKX users provides a huge built-in market. The roadmap includes further decentralization of the sequencer and expansion of AggLayer. Risks [Identified by Finkonkurs AI Analytics System] Technical risks: centralization of the sequencer and proof set (the network is still in early stages of decentralization, Stage 0/1); a recorded outage in October 2025 due to a planned update highlights infrastructure fragility. Competitive pressure: amid the rapid growth of Base (Coinbase) and BNB Chain (Binance), X Layer faces greater difficulty attracting TVL and developers, despite its ZK advantage. Regulatory risks: dependence on OKX's regulatory status in various jurisdictions - loss of VASP licenses could limit the development of RWA and Exchange OS. Tokenomic risks: OKB is used not only as gas but also as OKX's exchange token, creating a correlation between network activity and the token's market value, which does not always reflect the blockchain's fundamental metrics.