PANews reported on October 2nd that OKX Founder and CEO Star Xu delivered an opening speech at the X Layer offline event, "Building the X Layer - A Genesis Night with DeFi Giants." Star expressed his gratitude for the enthusiastic support from the community and guests, adding that the team felt a profound sense of responsibility. As an open company, OKX considers building an open blockchain network one of its highest strategic priorities and plans to make the X Layer a key infrastructure component of the OKX Wallet and exchange.

Star explained that the development of the X Layer will be divided into three phases. The first phase will focus on integrating stablecoin projects, such as Tether and USDG, into the X Layer. In the near future, users will be able to hold stablecoins in the OKX Wallet and enjoy an annualized yield (APY) of 4%-5%. The second phase will involve collaborating with leading industry projects, including Aave, Uniswap, Balancer, and Chainlink, to make these leading protocols part of the X Layer infrastructure. The third phase will reward outstanding projects through a series of incentive programs. Star stated that OKX has prepared a $100 million "OKX Vision Fund" and will support the most successful projects through multiple rounds of programs to ensure that the community will not be disappointed. Furthermore, OKX plans to build on-chain derivatives and payment markets on the X Layer, with results expected to be released in the coming months. The X Layer team will focus on product development, technical optimization, and community engagement to promote the steady development of the entire ecosystem.