SINGAPORE, Dec. 27, 2023 /PRNewswire/ — OKX, a leading Web3 technology company, today 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, by selecting ‘X1’ from the chain drop-down menu on the QuickSwap website. X1 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 over 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. It also provides connectivity with a wide range of smart contracts, wallets and tools.
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A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:
- OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
- DEX: A multi-chain, cross-chain decentralized exchange aggregator of 400+ other DEXs and approximately 20 bridges, with 200,000+ coins and more than 20 blockchains supported.
- NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
- Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.
OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.
To learn more about OKX, download our app or visit: okx.com
Originally published at https://www.prnewswire.com/news-releases/okxs-x1-testnet-now-supported-by-quickswap-dex-302022725.html
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