Expanding Our zkEVM Ecosystem
Today, Pheasant Network is excited to announce the integration of a new Layer 2 network. We are launching bridges on the X Layer mainnet, a cutting-edge zkEVM developed with Polygon CDK and created by OKX, a leading cryptocurrency exchange and Web3 technology company. This new release enables users to seamlessly transfer assets not only between the Ethereum Layer 1 and X Layer, but also among a wide range of supported Layer 2 rollups, including Arbitrum, Base, Linea, Mode, OP Mainnet, Polygon, Polygon zkEVM, Scroll, and zkSync Era.
To explore the expanding ecosystem of X Layer, simply visit our app, connect your wallet, select the source and destination networks, and enter the amount of ETH you wish to transfer. Make sure to double-check you have selected the correct networks and entered the accurate amount. Click send to confirm, and watch as your tokens swiftly make their way to X Layer in just a few minutes!
What is X Layer? — A zkEVM Layer 2 Network Built by OKX
X Layer is an EVM-compatible ZK-based Layer 2 network developed by OKX, one of the biggest crypto exchanges by daily trading volume (both spot and derivatives), custodying over US$22 billion of crypto on its platform. It is strategically designed to bring OKX’s 50 million global users to the decentralized Ethereum ecosystem, offering them an all-in-one portal to the vast world of Web3. It also allows developers to easily integrate with the exchange’s suite of products including its wallet.
Of course, OKX’s existing customers are not the only ones who can benefit from this new Layer 2 network. As a ZK-powered scalability solution, it introduces enhanced scalability, reduced transaction fees, the inherited security of Ethereum, and near-instantaneous transaction finality to all its users.
Since its public introduction in November 2023, Pheasant Network has been a steadfast supporter of X Layer, launching testnet bridges shortly after its release. A few months back, we actively participated in various ecosystem campaigns during the testnet. This collaboration has been mutually beneficial, paving the way for a thriving developer community on the Layer 2 network.
The Offspring of OKX and Polygon’s Collaboration
At its core, X Layer is the product of a collaborative effort between OKX and Polygon Labs, and the driving force behind it is Polygon Chain Development Kit (CDK). The Polygon CDK, developed by Polygon Labs, is an open-source, modular software framework designed to facilitate the building of ZK-based Layer 2 solutions. It equips developers with a comprehensive toolkit for designing highly customizable L2 solutions that are compatible with the EVM, ensuring the secure availability of data.
Furthermore, the Polygon CDK brings unified liquidity to all networks developed with it, using its ZK-based bridges for smooth and fluid asset transfers among them. This approach is key to realizing the project’s ambitious “Polygon 2.0” vision, which aims to create a more interoperable and more interconnected ecosystem of Layer 2 and Layer 3 solutions driven by ZK technology.
Since its debut six months ago, the CDK has quickly been adopted by several leading companies and projects within the blockchain space, with X Layer standing out as one of its most prominent networks. Pheasant Network plans to integrate more networks from the expanding Polygon 2.0 ecosystem, further endorsing our confidence in CDK’s capacity to drive the development of diverse Layer 2 solutions.
Bridge as a Keystone in the Multi-Layered Ethereum Ecosystem
X Layer represents the first network we’ve integrated that is built using the Polygon CDK. It also stands as our second Layer 2 developed by a centralized exchange, following the introduction of Coinbase’s Base. Additionally, it marks the third scalability solution from the Polygon family, coming after Polygon PoS and its zkEVM.
As the number of building kits such as Polygon CDK continues to grow, it becomes increasingly easier and more straightforward for non-Ethereum native projects like OKX to develop their own Layer 2 and Layer 3 solutions. This proliferation of networks catalyzes the transformation of Ethereum into a multi-layered and multi-network ecosystem. Consequently, this complex ecosystem necessitates a robust means of connectivity between the various Layer 2 and Layer 3 networks. This is where the significance of third-party bridge projects like Pheasant Network escalates, serving as an essential component that enhances interoperability within the Ethereum landscape.
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About Optimistic Bridges
Optimistic bridges, inspired by the design of optimistic rollups, allow users to transfer tokens from one chain to another in an “optimistic” manner. Optimistic transfers mean that the protocol does not require Ethereum to verify all of the bridge transactions but checks only fraudulent-looking ones. This mechanism is similar to how optimistic rollups work, where the protocol approves all transactions executed on Layer 2 by default and triggers the verification process on the Layer 1 level only when something suspicious is found. This structure leads to a drastic cut in gas fees and a higher degree of decentralization, enhancing the scalability and interoperability of the Ethereum ecosystem.
About Pheasant Network
Pheasant Network is an optimistic bridge network inspired by the idea of optimistic rollups. We aim to bring the concept to bridge architecture to address Ethereum’s interoperability challenges as well as scalability issues. Our robust security system and cost-effective design enable cheaper and faster asset transfers between Ethereum and Layer 2 networks while ensuring security and decentralization. We believe that optimistic solutions are the answer to future bridge development.
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