OKEx to support direct deposits and withdrawals onto Ethereum scaling solution Arbitrum

By May 3, 2021DApps
Click here to view original web page at www.okex.com

OKEx is collaborating with Arbitrum, a market-leading Optimistic Rollup scaling solution to bring Ethereum Layer 2 scaling directly to our users. OKEx will enable the functionality for its users to deposit directly onto the Arbitrum mainnet without having to interact with the base layer of Ethereum. We are excited to lead the way as the first major cryptocurrency exchange to enable direct access to an Ethereum Layer 2 protocol.

With the Mainnet Release Candidate live on Kovan testnet, and the Arbitrum community continuing to flourish and grow, we are excited to make onboarding to Arbitrum seamless for OKEx users. This will ensure that they can interact with DeFi protocols and any other DApps built on top of Arbitrum without having to pay Ethereum gas fees. This will reduce friction for our users while also relieving congestion in the Ethereum ecosystem and accelerating Ethereum’s rollup-focused development plans.

Arbitrum’s Ethereum Virtual Machine-compatibility makes it easy for developers to deploy contracts, and low costs are an enticing benefit to users. The protocol has positioned itself as the most promising rollup solution to scale Ethereum. We are excited to contribute to the community progress for Ethereum Layer 2 scaling.

Next steps

While the Arbitrum team finalizes its mainnet release date, we are undertaking our due diligence to work through how quickly the integration can be implemented. We hope to release more information about this collaboration shortly.

Learn more about Arbitrum here.

OKEx
May 2nd, 2021

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