OKX, a leading cryptocurrency platform and on-chain technology company, is pleased to announce a strategic partnership for the X-layer Chainlink SCALE program. OKX has selected Chainlink Cross-Chain Interoperability Protocol (CCIP) on the X-layer, the high-performance Ethereum Layer 2 network. The main objective of this strategic partnership is to revolutionize the way traditional finance (TradFi) is done with decentralized finance (DeFi).
Chainlink’s industry-leading oracle network integration provides X Layer developers with easy access to high-quality, near-gas-free, and tamper-proof market data. Both platforms are aimed at modern users, and to that end, they also pay close attention to improvements and developments in the Web3-based world to secure DeFi, tokenization, trading, and automation.
OKX and Chainlink partnership drives DeFi integration
Simply put, the partnership between OKX and Chainlink, from a broader perspective, is to empower users from traditional finance to DeFi by providing useful assistance. Chainlink is playing a major role in merging traditional finance and DeFi, and is gradually becoming the infrastructure that connects them.
The Depository Trust and Clearing Corporation (DTCC) promotes fund data on-chain through Chainlink itself. UBS and Swift are using this for their tokenized fund workflows. In addition, OKX’s Ethereum Layer 2, X layer is connected to the existing infrastructure stack. Additionally, the partnership between Chainlink’s CCIP and Chainlink SCALE programs will help cover oracle and interoperability costs. X Layer is already compatible with messaging data.
OKX’s X Layer and Chainlink SCALE integrate to provide fast and low-cost DeFi solutions
After integrating with the Chainlink SCALE program, X Layer will provide a new edge to users around the world. Additionally, X Layer surrounds oracles and cross-chain service tools at near-free or minimal cost. This system removes additional fees on transactions. In fact, this accelerates development velocity and allows you to focus purely on delivering high-impact applications rather than managing infrastructure.
Meanwhile, with X Layer’s 5000 TPS performance, near-zero gas costs, and seamless OKX ecosystem alliance powered by Chainlink’s oracle platform, developers will then have all the functionality they have long desired. In a nutshell, both platforms try to leverage their specifications to provide as much functionality as possible.