Leading decentralized finance company Swell recently announced a partnership with premiere cryptocurrency exchange OKX. In their joint announcement, the two groups said they hoped to leverage a growing demand for fast and inexpensive crypto solutions. They added that by joining forces, they are helping to develop DeFi and Layer 2. OKX’s Layer 2 and Swell’s rested role together are workable because they operate with Polygon’s Crypto Development Kit. OKX has been very active in expanding its ecosystem with new partnerships.
Swell is collaborating with OKX’s L2! 🤝🌊
The new collaboration will unlock powerful synergies between Swell’s restaked rollup and @OKX’s L2, both of which are built on @0xPolygon’s CDK and will interoperate through the Polygon AggLayer.https://t.co/IRHMsc0O0O pic.twitter.com/56qzXoqAlj
— Swell (@swellnetworkio) March 29, 2024
OKX Incentivizes Wallet Usage for Seamless Integration with Swell’s Layer 2
By combining their strengths, Swell and OKX can foster contributions to boost platform unity and launch a simple user experience. One of the key benefits of this union is the decentralized native role on Layer 2, reducing the need to restake your native token. As a result, the process of flow is enhanced in LST gives residents an opportunity.
By providing incentives to wallets and in Layer 2, OKX hopes that consumers will utilize both alternatives to kill two birds with one stone. Swell’s Layer 2 option becomes more convenient for 50+ million users through OKX’s Block Explorer wallet integration. Swell paves the way with this back-and-word integrations and opens the door. Access to the site becomes more straightforward. As a result of the rapport’s effect for the Asian market, it enhances usage of Swell’s Layer 2 solution.
Swell and OKX Partnership Aims to Enhance DeFi and Layer 2 Offerings
With the agreement, Swell’s Layer 2 solution simplifies liquid staking token access with the OKX Web3 Wallet, natively restakes, and facilitates wallet compatibility. Seamless transitions are enabled from OKX’s Layer 2 network to the mainnet.
According to Swell creator Daniel Dizon, the Swell team appreciates OKX’s partnership as the exchange is the cryptocurrency market leader in Asia. Swell and OKX can take advantage of Layer 2 strides by joining forces, Dizon said. Ethereum’s next version will be a catalyst, and ecosystem stride should be used by this collaboration. Polygon Labs’ DeFi boss Jack Melnick said the agreement demonstrates the Polygon Ecosystem’s robust capabilities. He appreciated Polygon’s CDK and zkEVM and said two heads are better than one.
Finally, Swell and OKX’s union advance decentralized banking. By combining these two groups’ strength and utilizing their merits, these two groups set out to make DeFi and Layer 2 options better.