D8X Launches First Persistent DEX on X-Layer Network

Key Takeaways

• D8X launched its mainnet on the X-layer network, introducing the first permanent decentralized exchange for derivatives on OKX’s Ethereum layer 2 blockchain.
• By leveraging the X Layer, the platform maintains the security of Ethereum while improving user experience and transaction efficiency.
• With features such as collateralizing $OKB transactions and earning returns as a liquidity provider, D8X helps users within the OKX ecosystem maximize the potential of their assets.

D8X, an institutional-grade decentralized exchange (DEX) for derivatives, announced the launch of its mainnet on the X-layer network. This move marks a pioneering leap forward as D8X becomes the first permanent DEX to operate on OKX’s Ethereum layer 2 blockchain.

The emergence of D8X on the X Layer network comes after a rigorous testing phase on the X Layer testnet. On the X Layer testnet, the platform has amassed an impressive 15,000 users in just two months. This surge in user adoption highlights the growing demand for innovative solutions within the DeFi ecosystem.

Ethereum, the pioneering blockchain network that underpins much of DeFi infrastructure, has long struggled with scalability and congestion issues, which has led to soaring gas prices that hinder user transactions. Ethereum co-founder Vitalik Buterin has repeatedly emphasized that these challenges are a barrier to widespread DeFi adoption.

Layer 2 networks like X Layer offer a promising solution to Ethereum’s scalability problems. By leveraging these networks, platforms like D8X can provide users with a more efficient and cost-effective trading environment while maintaining the security of the Ethereum mainnet.

D8X’s journey towards mainnet launch was marked by strategic collaborations and important milestones. First launched on the Polygon zkEVM mainnet in February 2024, the platform has received backing from high-profile investors including Polygon Ventures, Axelar Network, and Swissborg Ventures.

In collaboration with This innovative approach is consistent with the common goal of expanding the Ethereum network through the Polygon CDK ecosystem to provide users with enhanced liquidity and trading capabilities.

Caspar Sauter, co-founder of D8X, emphasized the platform’s transformational potential, saying: “As a user of the OKX ecosystem, you can now unlock the full potential of your $OKB holdings on our pioneering perpetual futures DEX. Trade with $OKB while remaining invested and earn attractive returns on $OKB as a liquidity provider!”

D8X’s commitment to regulatory compliance is evident by its adherence to clear guidelines from FINMA, the Swiss financial markets regulator. This commitment to regulatory standards highlights the platform’s focus on building a secure and compliant DeFi infrastructure.

D8X’s mainnet launch follows a successful pre-seed funding round raising $1.5 million with participation from key industry players such as Polygon, Axelar, Swissborg, and more. With plans to launch the $D8X token later this year, D8X aims to further expand its products and solidify its position within the DeFi landscape.

DeFi enthusiasts access D8X’s powerful derivatives capabilities through a variety of front-end platforms hosted by partners such as d8x.trade, freeperps.com, omnistrat.trade, Decentralized-perps.com, and HeroX.app, with additional platforms currently in development. You can.

As the DeFi space continues to evolve, D8X’s mainnet launch marks a significant step forward in unlocking the full potential of decentralized derivatives trading while addressing key challenges facing the industry.

Also Read: Narwhal Finance Raises $1M Seed Funding to Revolutionize Distributed Leveraged Trading.