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Overview

Overview of the OpenEX Network​

The OpenEX Network aims to construct an advanced uni-layer2 platform that integrates the latest blockchain technologies to offer an efficient, secure, and user-friendly digital asset trading environment. We have achieved this goal through several key components:

Network Architecture and Core Components​

The uni-layer2 architecture adopted by OpenEX is designed to optimize transaction speed and reduce transaction costs while maintaining compatibility with the Ethereum Virtual Machine (EVM), ensuring developers and users can seamlessly migrate to the OpenEX Network. Furthermore, by introducing cross-chain bridge technology, OpenEX supports asset cross-chain operations with EVM-based public chains and BTC, significantly enhancing the network's interoperability and users' asset liquidity.

Strategic Choice of USDX as the Base Currency​

USDX is the base currency of the OpenEX Network, a newly defined stablecoin aimed at providing a stable and efficient medium for transactions. Users can obtain USDX by depositing mainstream stablecoins such as USDT and USDC, a mechanism that not only simplifies the asset exchange process but also improves the efficiency of fund utilization. The introduction of USDX is based on an in-depth analysis of market demand and recognition of the significant role stablecoins play in enhancing transaction efficiency. Note: In the OpenEX LONG Testnet, to simplify the complexity of the test user experience, the base currency is USDT.

Integration of EVM Compatibility and BTC Layer2 Technology​

A notable feature of the OpenEX Network is its compatibility with EVM, allowing developers and projects on Ethereum to easily migrate to OpenEX and enjoy lower transaction fees and faster transaction confirmation speeds. Additionally, the integration of BTC Layer2 technology is a direct response to existing technological challenges. By adopting some of the current BTC Layer2 solutions, such as Lightning Network and atomic swap technologies, OpenEX aims to address the scalability issues of the Bitcoin network, providing faster and more cost-effective BTC transaction services.

Introduction of the OEX Mobile Application​

To enhance user experience, OpenEX has launched the OEX mobile application, a one-stop solution that allows users to directly access various services of the OpenEX Network from their mobile devices. The OEX mobile application supports not only the trading and management of digital assets but also integrates cross-chain asset transfer functions, enabling users to easily transfer assets between different blockchain networks. In addition, the application provides real-time market data, news, and other tools to help users make more informed trading decisions.