OKX Launches $100M Vision Fund to Boost X Layer Ecosystem
OKX, the world's second-largest cryptocurrency exchange by trading volume, has launched the OKX Vision Fund, a $100 million investment initiative. Led by CEO Star Xu, the fund aims to support startups, protocols, and teams developing the X Layer ecosystem, demonstrating OKX's commitment to long-term technology development.
X Layer, an Ethereum Layer 2 rollup, will serve as the base infrastructure for OKX Wallet and the OKX platform. This integration is set to enhance the Web3 and DeFi capabilities of the OKX platform, thereby increasing liquidity and adoption. The roadmap for X Layer's development is divided into three phases.
Phase one focuses on integrating stablecoins like Tether (USDT) and USDG. OKX has already collaborated with Tether to connect USDT to X Layer on its wallet and platform. Phase two will connect major DeFi protocols such as Aave, Uniswap, Balancer, and Chainlink. The final phase will launch incentive programs for developers and active projects on X Layer.
OKX's strategic priority, as stated by CEO Star Xu, is creating an open blockchain network. The OKX Vision Fund will support the launch of startups and protocols on X Layer, positioning OKX in the Layer 2 race alongside competitors like Binance and Coinbase. This move underscores OKX's dedication to driving innovation and growth in the cryptocurrency ecosystem.
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