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Academy OKExChain Article
DeFi OKExChain

OKExChain TVL soars as mainnet ecosystem expands

2021.08.21 OKEx

A progress report for OKExChain development in the month of July 2021

OKExChain is a public blockchain initiative developed by OKEx that comprises a set of open-source chains that may be used as a platform for decentralized applications, including decentralized exchanges. For more detailed information, check out our guide to OKExChain

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Summary

  • OKExChain officially started the third stage of its mainnet ecosystem construction.
  • OKExChain's total value locked exceeded $1.8 billion.
  • OKExChain's Grant Hackathon completed.
  • The mainnet is fully open for development and the white-list mechanism is closed.
  • RPC service stability has been improved.
  • Cosmos-sdk 0.42 version ported EVM.

OKExChain ecosystem update

OKExChain officially started the third phase of its mainnet ecological construction on July 28. In the third stage, OEC is open to all developers, and anyone can freely deploy projects on the chain. Within 48 hours of the third phase's opening, the TVL on OEC chain exceeded $1.8 billion.

The newly added OKEx Wallet now supports OKExChain assets. The wallet has built-in multi-network configurations and full EVM blockchain network support. Currently, most OKExChain ecosystem projects are supported.

The total number of transactions on OKExChain is currently 5,524,960 — an increase of 314% from the previous month. The cumulative number of proposals is 36 and the number of currency-holding addresses is 269,775 — an increase of 179% from the previous month.

Four new ecological projects were added in July:

  1. BoringDAO (bridge)
  2. Vfat (dashboard)
  3. DeFiner (lending protocol)
  4. Bulksender (tool)

OKExChain's Grant Hackathon — organized by OKExChain through HackerLink, a DoraHacks open-source developer platform — came to a successful conclusion last month. A total of 28 participating teams passed and received a total of $1.775 million in funding.

At present, more than 35 projects have joined the OKExChain ecosystem.

Technical progress

Development version update

The OEC version was updated to v0.18.13: https://github.com/okex/exchain/releases 

Functional development

  • The archive node of the main network has been upgraded to support the specified height to call the eth_call interface to obtain status data.
  • The development of the gas-price recommendation function has been completed.

Bug fixes

  • Fixed the issue that made contracts inaccessible due to caching issues after the contract was unlocked.
  • Released OEC-ethers.js package to make ethers.js compatible with OEC.
  • Improved the stability of the RPC service and solved the problem of occasionally returning 502 errors when accessing the RPC service.

Cosmos42 version ported EVM

  • EVM transplanted to CM42 version.
  • EVM RPC related optimizations migrated to CM42 and optimization options can be enabled.

For more information about the development of OKExChain in July, please take a look at our one-pager below:

Risk warning

OEC is an open-source, open decentralized public chain, and anyone can freely deploy projects. From the principle of blockchain technology, OKEx cannot control the quality of any project on OEC, nor will it endorse and be responsible for any project.

There are certain risks in using any project on a decentralized public chain. Users need to identify the quality of the project themselves and be responsible for their own choices so as not to cause financial losses.

Before participating in any project on OEC, you should know:

  1. Before using any project on OEC, please confirm that you have understood all the design behind it and are willing to take its risks.
  2. All users and developers can participate in OEC's mainnet and testnet for free, and OEC will not charge any fees.
  3. Please make sure to distinguish between the OEC test environment and the main network environment. All assets in the test environment have no value. Beware of counterfeit currency fraud.
  4. In the process of using any OEC chain project, you must manage your private key, do not disclose your private key to anyone, and be careful to authorize third-party projects.

About OKExChain

OKExChain website: https://www.okex.com/okexchain
OKExChain docs: https://okexchain-docs.readthedocs.io/en/latest
OKExChain forum: https://forum.okt.club/
GitHub: https://github.com/okex/okexchain
Telegram Chinese: https://t.me/okexchain_cn
Telegram global: https://t.me/okexchainglobal
Telegram dev: https://t.me/okexchaintech

Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

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