This Temperature Check aims to seek community input on the potential deployment of dForce and Unitus on X1, powered by OKX. This initiative aims to expand dForce’s footprint and leverage the growing ecosystem and user base.
X1 utilizes ZK proofs to achieve robust security and scalability while reducing transaction costs. Its primary goal is compatibility with Ethereum, enabling the smooth and secure deployment of Ethereum Virtual Machine (EVM)-based decentralized applications (dApps) and seamless interaction with a wide array of smart contracts, wallets, and tools.
OKX currently ranks as the fifth-largest cryptocurrency exchange. X1 will serve as OKX’s new native network, connecting its expansive user base of over 50 million individuals to the broader Polygon and Ethereum communities. The native token for X1 will be OKX’s platform token, OKB, which will be utilized for covering gas fees on the network.
In a collaborative effort between OKX and Polygon Labs, OKX will assume the role of a core contributor to the Polygon CDK, committing substantial engineering resources to bolster the technology stack for Ethereum scaling solutions.
X1 is presently in the testnet phase, with its mainnet set to launch in the first quarter of 2024.
Deploying on X1 creates valuable and distinctive revenue opportunities for dForce:
Solidifying dForce’s place as a leading DeFi and a thought leader. As an early mover to capture a rapidly growing market in advance as the Ethereum ecosystem gradually shifts to a zkEVM focus, and integrate closely with X1’s rapidly growing ecosystem.
Capturing the interest and growth of users within the OKX platform ecosystem. X1 is a way for dForce to seamlessly integrate OKX products and instantly tap into 50M users in the OKX ecosystem.
EVM compatibility. X1 offers 100% EVM compatibility with robust security and lower fees, enabling minimized development work to facilitate the deployment of dForce on X1.
This temperature check is to gather community feedback for the proposal of deploying dForce on X1 (testnet first). If this temperature check indicates positive sentiment, a formal DIP will be formulated with assets assessment and risk parameter recommendation prior to the launch of dForce on the mainnet of X1.
- USX (including LSR, vault, PDLP and POO strategies)
- Unitus Finance
- dForce Trade
- dForce Bridge
- Perform infrastructure/technical assessment.
- Perform risk/liquidity assessment for assets to be supported.
- Prepare DIP based on community feedback and include risk parameters based on risk evaluation result.
- Submit the DIP on Snapshot for final approval.
- Deploy dForce on X1 mainnet if consensus is reached.