The internet democratized publishing. Blockchain democratized asset issuance. Our latest announcement of Exchange OS democratizes market creation. Exchange OS will be a major protocol upgrade on X Layer that will enable builders to deploy spot markets, perpetuals, or outcome markets on the same institutional-grade infrastructure stack powering OKX. The core exchange functions, matching, margining, liquidation, settlement, and risk, sit at the protocol layer, shared by every venue. You control everything above it: your frontend, compliance framework, revenue model, and market structure. For traders: a unified account and margin system across spot, perpetuals, and outcome markets. One pool of capital, expressed across any market type, without splitting balances across platforms. For builders: deploy any market type permissionlessly, run on millisecond matching latency and 300K TPS throughput, within your own risk-isolated group. Partners across trading infrastructure, institutional, DeFi and Web3 are joining the next chapter, including Pyth Network, Chainlink, GSR, Nansen, xStocks and more. The next chapter of onchain finance should not be built by a single platform. It should be built by anyone with a market worth creating. Read our vision: https://www.okx.com/learn/exchange-os