CRYPTOCURRENCY EXCHANGE OKX COMING OUT WITH LAYER 2 ‘X1’ BUILT ON POLYGON TECHNOLOGY

Summary from the TLDR Crypto newsletter

OKX announced plans to launch an L2 network named 'X1' using Polygon's Chain Development Kit. The network, anticipated to launch in Q1 of 2024, will employ Polygon's zk tech stack, a burgeoning type of cryptography in the blockchain space. OKX's native token, OKB, will be used for gas fees on X1. This move comes on the heels of Coinbase’s successful launch of Base and Kraken’s announcement of its own L2.