QuickSwap, a leading decentralized exchange (DEX) and automated market maker, has announced support for the testnet version of X1. This development marks a significant step in expanding the capabilities and reach of both platforms within the decentralized finance (DeFi) ecosystem.
X1 is OKX's innovative zkEVM Layer 2 network, developed using the Polygon Chain Development Kit (CDK). It is designed to offer a secure, scalable, and cost-effective environment for decentralized applications (DApps) and trading protocols.
How to Access QuickSwap on X1 Testnet
Users can now explore QuickSwap's features on the X1 testnet by selecting 'X1' from the chain drop-down menu on the QuickSwap website. This integration allows access to various DeFi solutions, including:
- Token swap functionality
- Liquidity pool participation
- Perpetual DEX trading
This testnet phase provides an opportunity for users to familiarize themselves with the platform's offerings in a risk-free environment while helping to stress-test the network before mainnet deployment.
Benefits of the QuickSwap and X1 Integration
The collaboration between QuickSwap and X1 brings several advantages to the Web3 community:
- Enhanced scalability: X1's zkEVM architecture enables high transaction throughput
- Reduced costs: Layer 2 technology significantly lowers transaction fees
- Ethereum compatibility: Seamless deployment of EVM-based DApps
- Improved security: Zero-knowledge proofs provide robust protection
This partnership creates more opportunities for both users and developers within the growing X1 ecosystem, which already hosts over 50 Web3 projects since its November 2023 launch.
X1 Network Technical Capabilities
X1 serves as OKX's native network, providing access to major blockchain ecosystems through several innovative features:
- ZK-proof technology: Ensures both security and scalability while maintaining low transaction costs
- EVM compatibility: Allows developers to easily port Ethereum-based applications
- Extensive connectivity: Supports numerous smart contracts, wallets, and development tools
- User-friendly design: Streamlined experience for builders, creators, and Web3 enthusiasts
The network aims to bridge the gap between traditional Web2 users and Web3 functionality through its intuitive design and robust technical foundation.
Future Outlook and Mainnet Expectations
The successful testnet implementation paves the way for QuickSwap's full deployment on the X1 mainnet. This progression will likely introduce:
- Enhanced trading features
- Expanded liquidity options
- Broader protocol integrations
- Advanced trading tools
The collaboration represents a meaningful step toward making decentralized trading more accessible and efficient for users across different experience levels.
👉 Explore advanced DeFi strategies
Frequently Asked Questions
What is QuickSwap?
QuickSwap is a decentralized exchange and automated market maker built on Polygon, Polygon zkEVM, and Dogechain. It enables users to swap tokens, provide liquidity, and trade perpetual contracts without intermediaries.
How does X1 improve upon existing Layer 2 solutions?
X1 utilizes zero-knowledge proof technology to provide enhanced security and scalability while maintaining full Ethereum Virtual Machine compatibility. This combination allows for lower transaction costs and faster processing times compared to many existing solutions.
When will QuickSwap be available on X1 mainnet?
While no specific date has been announced, the successful testnet implementation typically precedes mainnet deployment by several months. Users can expect updates from both OKX and QuickSwap as development progresses.
Do I need special tools to access X1 testnet?
You can access the X1 testnet through the standard QuickSwap interface by simply selecting 'X1' from the chain dropdown menu. You may need testnet tokens to experiment with transactions, which are typically available through faucet programs.
What other projects are building on X1?
The X1 testnet already hosts over 50 Web3 projects across various verticals, including Galxe, Particle Network, Math Wallet, Star Protocol, SoQuest, Owlto Finance, and Ruby DEX among others.
Is there risk involved in using testnet environments?
Testnets are designed specifically for experimentation without financial risk since they use valueless test tokens. However, users should still practice good security hygiene and be aware that testnets may experience downtime or data resets during development phases.