Cryptocurrency exchange OKX is launching a $100 million ecosystem fund as part of its efforts to strengthen its position in the crypto industry.
Ecosystem Fund for Developers
CEO of OKX, Star Xu, announced the launch of a $100 million fund aimed at supporting developers creating new blockchain-based applications. Xu emphasized that true builders understand that crypto is a marathon, not a sprint, and this fund is designed for those with long-term goals in technology.
OKX and Polygon Collaboration
For over a year, OKX has been collaborating with the Ethereum-based layer-2 protocol Polygon to launch the X Layer on the Ethereum mainnet. The primary goal of the X Layer network is to enhance speed and reduce transaction costs on Ethereum. Users will be able to easily interact with decentralized applications (dApps) and trade digital assets.
Major Upgrade to X Layer by OKX
Recently, OKX announced a significant upgrade to its X Layer network, transitioning to a public blockchain optimized for payments and decentralized finance. The upgrade will involve optimizing the economic model of its OKB token, with a permanent fixed supply of 21 million tokens.
The $100 million ecosystem fund from OKX aims to provide long-term support for developers, highlighting the company's commitment to innovation and advancement in blockchain technology.
