Aave Crypto is Set to Put OKX’s X Layer Back in the Game

Core Insights - Aave v3 is set to launch on OKX's X Layer, potentially transforming it into a significant DeFi platform [1][3] - The deployment aims to establish a core lending market and enhance liquidity on X Layer, which currently has low total value locked (TVL) compared to competitors [1][5] - Aave's expansion aligns with its strategy to broaden its multi-chain presence and strengthen its ecosystem [3][6] Aave v3 Deployment - Aave DAO conducted a "temp check" to gauge community support for the X Layer expansion, framing it as a chance to become the core liquidity layer [2][4] - If community sentiment remains positive, the proposal will progress to a Snapshot vote and a final on-chain governance proposal [2][4] X Layer Overview - X Layer, launched in 2024, is an Ethereum Layer-2 network built with Polygon's CDK, focusing on high throughput and low fees [3] - The network aims to attract a large user base from OKX's exchange to enhance on-chain activity [3][4] Current Metrics - X Layer has a total value locked of approximately $25.9 million, daily DEX volume of $36.3 million, and fees around $87,000 [5] - In contrast, Aave v3 has a total value locked of $68.6 billion, indicating a potential for significant liquidity influx to X Layer [5] Strategic Implications - For Aave, the move to X Layer is part of a broader multichain strategy, including recent expansions to Aptos and a planned v4 upgrade for cross-chain liquidity [6] - For OKX, integrating a leading lending platform like Aave v3 could stimulate credit markets and attract developers to the ecosystem [6]