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OKX Founder Star Xu Unveils Three-Phase Roadmap for X Layer at Token 2049

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Triparna Baishnab

Triparna Baishnab

OKX founder Star Xu revealed a three-phase roadmap for X Layer at Token 2049, including stablecoins, DeFi integration.

OKX Founder Star Xu Unveils Three-Phase Roadmap for X Layer at Token 2049

Quick Take

Summary is AI generated, newsroom reviewed.

  • OKX founder Star Xu outlined three development phases for X Layer at Token 2049.

  • Phase One: Launch of USDG stablecoin in the coming weeks.

  • Phase Two: Integration of Aave, Uniswap, Balancer, and Chainlink.

  • OKX will back serious long-term projects but reject meme coins with fraud risks.

During the Token 2049 conference in Singapore, the founder of OKX, Star Xu, outlined a roadmap to the X Layer, the Layer 2 blockchain of the company. The initial phase will be devoted to stablecoins, and USDG should be introduced in the nearest future. Xu underlined that the establishment of liquidity and adoption of the X Layer ecosystem will rely on stablecoins.

Protocol Implementation.

The second stage will reinforce the infrastructure of X Layer with the mainstream DeFi protocols, such as Aave, Uniswap, Balancer, and Chainlink. According to Xu, this move will increase the ecosystem of X Layer and provide developers with tools that are familiar to them to build and scale. This combination underscores the fact that OKX wants to ground X Layer on the already existing decentralized finance.

Vision Fund and Developers Support

The third step brings a $100 million Vision Fund, in which OKX will directly fund projects. According to Xu, the fund will be utilized using on-chain developer conferences and rewards schemes, and it will seek to expand a sustainable builder community. OKX will be focusing on high-quality projects with long-term objectives and staying away of meme coins with a risk of frauds.

Strategic Significance

The strategy of X Layer to roll in phases demonstrates the way OKX aims to stabilize, build infrastructure and ecosystem. Xu is making X Layer a formidable competitor to Layer 2 blockchains by initially releasing a stablecoin, before integrating large-scale DeFi protocols and ultimately investing in developer programs. The non-acceptance of short-term speculative tokens is also an indicator of the emphasis of legitimacy and permanence.

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