OKX发布Exchange OS协议，人人皆可开设交易市场

Author: Star Xu, Founder and CEO of OKX

Today, we are officially launching Exchange OS, a major protocol upgrade for X Layer. It allows developers, institutions, and ecosystem participants to deploy spot markets, perpetual contract markets, or prediction markets using the same institutional-grade infrastructure as OKX.

The first market built on Exchange OS will go live in June: the 2026 World Cup Prediction Market, a simulated prediction market deployed directly on Exchange OS. The platform is currently being opened in phases, with broader ecosystem access set to be progressively rolled out through XIP-Exchange OS (X Layer Exchange OS Improvement Proposals).

Exchange OS is designed to tackle one of the most significant structural bottlenecks in on-chain finance today: infrastructure fragmentation. While blockchain enables open asset issuance, the infrastructure for trading, settlement, collateralization, and liquidity remains scattered across isolated platforms and applications. Developers constantly face a binary choice: rely on centralized infrastructure or build a complex trading system from scratch.

We believe the next evolution of on-chain finance lies in building shared market infrastructure: enabling developers and institutions to create new trading markets more efficiently, while retaining full flexibility in front-end design, market structure, risk controls, and compliance frameworks.

Opening Market Creation to Everyone

Exchange OS pushes core exchange functions—matching, collateralization, clearing, settlement, and risk management—down to the protocol layer, leaving the upper layer free for operators to design their own user experience and business model. Different trading venues no longer operate in silos but share a unified execution environment, allowing multiple types of markets to coexist on the same track.

With Exchange OS, developers and institutions can deploy trading venues using a set of configurable infrastructure components, including asset selection, oracle systems, revenue models, and market structure. This framework supports diverse operating models, including regulated and compliant deployment options tailored to different jurisdictions and user requirements.

On Exchange OS, developers can deploy trading venues permissionlessly via the X Layer Improvement Proposal for Exchange OS (XIP-Exchange OS), autonomously selecting assets, oracle systems, revenue models, and compliance frameworks without needing approval from any centralized operator. Regulated institutions can launch fully KYC-compliant venues here, while Web3-native teams can operate permissionless markets on the same infrastructure. Both run on the same infrastructure but in separate, segregated risk control groups, preventing interference, with operating models entirely controlled by the developer.

For traders, Exchange OS introduces a unified account and collateral system spanning spot, perpetual contracts, and prediction markets. Funds can flow freely between different market types, rather than being locked away in isolated balances and platforms. Whether market views involve AI, macroeconomic events, sports tournaments, or tokenized assets, the same capital can simultaneously participate across diverse market themes.

All markets deployed on Exchange OS run on the same high-performance infrastructure as OKX, including millisecond matching latency, unified settlement, and throughput of up to 300,000 TPS. Our goal is simple: let developers launch scalable, high-performance on-chain markets without having to build core infrastructure from scratch.

OKX Builds the First Use Case

We choose to prove the capability of this infrastructure through action, not promises. The first market deployed on Exchange OS will be created by OKX itself. We will launch the "2026 World Cup Prediction Market" in June, a simulated market deployed directly on Exchange OS. We believe the best way to demonstrate the power of an infrastructure is to build and validate on it ourselves first.

So, today's launch is just a starting point. Exchange OS will go live in phases, progressively opening infrastructure components, deployment capabilities, and ecosystem participation channels. The whitepaper released today details the underlying architecture, governance model, and roadmap.

The Next Chapter of On-Chain Finance

We believe the next era of finance will be defined by markets that are: more open, interoperable, and globally accessible. Tokenization and asset fragmentation have the potential to open global markets to more people, while real-time settlement can enhance capital efficiency and reduce the friction of traditional market infrastructure.

Users should be able to express a complete market view using the same capital across spot, derivatives, and prediction markets, rather than splitting funds across different platforms. Liquidity, order flow, and strategies should be able to move efficiently between different markets, not trapped in isolated systems.

Today's launch of Exchange OS is supported by partners across various sectors of the ecosystem:

The next chapter of on-chain finance should not be written by any single platform. It should be written by everyone who wants to build a market.

Read the whitepaper, join us, and help build the future of trading markets.

Whitepaper: https://web3.okx.com/xlayer

The OKX World Cup Prediction Market is a simulated market and does not involve any real assets.

Disclaimer: This announcement is for informational purposes only and does not constitute investment, tax, or legal advice, nor is it an offer to buy, sell, hold digital assets, or provide related services. Digital assets (including stablecoins and NFTs) involve high risk and prices may fluctuate significantly. Before trading or holding digital assets, please carefully assess your financial situation and risk tolerance. OKX does not provide investment or asset advice, and investment decisions are solely the responsibility of the user. Some products and features are not available in all regions; products such as perpetual contracts and derivatives may be restricted by local laws and regulations or may not be available.