OKX Unveils ‘Web3 Giveaway’ and QuickSwap Integration on X1 Testnet Dec 27, 2023 Dec 27, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 27, 2023 by Kelly Cromley

OKX Unveils ‘Web3 Giveaway’ and QuickSwap Integration on X1 Testnet

In a recent announcement, OKX, a prominent Web3 technology company, revealed the launch of ‘Web3 Giveaway’ on the OKX app. This new product feature aims to provide crypto enthusiasts with exclusive gifts from leading crypto projects. Simultaneously, OKX shared news about QuickSwap, a decentralized exchange (DEX) built on Polygon, extending its support for the testnet version of X1, OKX’s new zkEVM Layer 2 network.

DeFi Week Rewards:

During the designated “DeFi Week” from December 22, 2023, OKEx app users have the opportunity to win rewards from notable crypto projects, including KTX.Finance, Meson, APX Finance, and Rollup Finance. Each project offers unique rewards, and users can participate by following specific steps outlined by the respective projects.

KTX Finance:

KTX Finance, a decentralized derivatives and social trading platform, is offering users the chance to earn SATS tokens through the OKEx Web3 Giveaway by completing designated steps.

meson:

Meson, known for its fast and low-cost cross-chain swaps, is providing users the opportunity to win Mason Premium and POD through the OKEx Web3 Giveaway.

APX Finance:

APX Finance, a prominent crypto derivatives DEX, is allowing eligible participants in the OKX Web3 Giveaway to share APX tokens.

Rollup Finance:

Rollup Finance, a decentralized perpetual derivatives exchange, is offering users the chance to earn ROP by following the instructions specified in the OKX Web3 Giveaway.

QuickSwap on X1 Testnet:

QuickSwap, a DEX and automated market maker on Polygon, Polygon zkEVM, and Dogechain, has integrated support for the testnet version of X1. Users can explore QuickSwap’s features, including token swaps, liquidity pools, and perpetual DEX, by selecting ‘X1’ from the chain drop-down menu on the QuickSwap website.

Enhanced Ecosystem Opportunities:

This integration strengthens the ecosystems of both QuickSwap and X1, presenting additional opportunities for users and developers. The X1 testnet, launched in November 2023, has already attracted over 50 Web3 projects, including Galxe, Particle Network, Math Wallet, Star Protocol, SoQuest, Owlto Finance, and Ruby DEX.

OKX Chief Innovation Officer’s Perspective:

Jason Lau, OKX Chief Innovation Officer, expressed enthusiasm about the growing number of Web3 projects building on X1. Highlighting QuickSwap’s move to scale on X1 for a decentralized exchange experience, Lau emphasized the network’s potential to provide a powerful and smooth experience for the OKX community and its users.

X1’s Role in the Web3 Landscape:

X1 serves as OKX’s native network, aiming to provide users and developers access to the world’s largest blockchain ecosystems. As a state-of-the-art protocol, X1 is designed for builders, creators, and Web3 enthusiasts. Leveraging ZK proofs, the network ensures high security and scalability while reducing transaction costs. With compatibility with Ethereum, X1 allows seamless deployment of EVM-based DApps and connectivity with various smart contracts, wallets, and tools.

Conclusion:

OKX’s ‘Web3 Giveaway’ and the integration of QuickSwap on the X1 testnet underscore the company’s commitment to enhancing user experiences and expanding opportunities within the evolving Web3 landscape. These initiatives contribute to the growth and innovation of the broader crypto community, marking significant steps toward a decentralized and user-centric future.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.