OKX Launches $100 Million X Layer Fund, Introduces DEX Fees

Cryptocurrency exchange OKX has unveiled a $100 million X Layer Ecosystem Fund aimed at financing developers that build applications on the company’s new zkEVM Layer-2 network. Chief Executive Officer Star Xu said the initiative is intended to foster "long-term" innovation, adding that OKB will be the sole gas token on X Layer.

Alongside the fund, OKX disclosed what it calls the largest token burn in crypto history for its native OKB token. The destruction of undisclosed quantities of circulating supply follows a sharp rally in OKB, whose price has gained about 320%–340% over the past month, reinforcing the exchange’s deflationary tokenomics.

In a separate move, the company’s wallet-based DEX aggregator has started levying service fees while piloting a rebate scheme for active users. Swaps involving stablecoins remain free, mainstream tokens incur a 0.25% charge and most other assets are charged 0.85%. Users who meet minimum trading and activity thresholds can earn rebates of up to 20% of the fees paid.

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