Cryptocurrency exchange OKX is launching a $100 million X Layer, all part of its plan to establish its position in the crypto industry. Star Xu, the exchange’s CEO, announced the news on X, insinuating that OKX has a better understanding of how the crypto market operates. $100 Ecosystem Fund For Builders on OKX’s X Layer Xu started his post by stating that “true builders know crypto is a marathon, not a sprint.” He further noted that both OKX and X Layer were designed for the long run and on this premise, they are launching a $100 million Ecosystem Fund. This initiative is to provide support to global builders, particularly those busy shaping the next wave of onchain applications. There is an open call for builders who have a long-term vision and are focused on real technology. “But if your goal is just a quick pump-and-dump token, we’re not the place for you,” the OKX CEO explained on X. OKX and Polygon Team Up For X Layer More than a year ago, OKX and Ethereum-based layer-2 protocol Polygon teamed up to officially release the former’s X Layer engine on the mainnet. The goal of the X Layer network is to improve speed and make Ethereum transactions more affordable for its users. Through this network, users were promised easy interaction with Decentralized Applications (dApps). They can also trade digital assets and participate in various blockchain activities. The X Layer is built using the Polygon Chain Development Kit (CDK) and uses Zero Knowledge (ZK) for security. Haider Rafique, the Chief Marketing Officer of OKX, also commented. He noted that the network is designed for forward-thinking creators who are developing applications to onboard millions of people onto the blockchain. OKX Brings Major Upgrade to its X Layer It is worth noting that this announcement about the $100 million fund comes almost two weeks after OKX talked about its major upgrade to its X Layer network. This means that it is transitioning into a public blockchain optimized for payments and Decentralized Finance (DeFi). This overhaul involves the optimization of the economic model of its OKB Gas Token. This means that OKX will upgrade the OKB smart contract to remove functions for additional issuance and manual burning. By carrying putting action, the total OKB supply will be permanently fixed at 21 million tokens. In parallel, OKX will also fade out the OKTChain, with OKT trading scheduled to end at 14:10 (UTC+8) on August 13, 2025. The post OKX Unveils $100 Million X Layer Ecosystem Fund: Details appeared first on TheCoinrise.com .
