Balancer launches on Ethereum L2 network Optimism
There are currently 38 projects deployed on the Ethereum layer-2 network. More are expected as attention shifts to scalability. Automated market maker and decentralized finance (DeFi) protocol Balancer has officially deployed on Optimism, the highly touted Ethereum layer-2 scaling solution, in a move designed to enhance user functionality by increasing scalability and reducing fees. Balancer’s Optimism deployment was carried out in conjunction with Beethoven X, a decentralized investment platform on the Fantom Network that forked from Balancer v2. Together, both teams are said to have....
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Several projects have launched on Optimism this year with the goal of giving users instant transactions and lower gas fees. Unsecured lending protocol TrueFi has become the latest project to launch on Optimism, Ethereum’s popular layer-2 scaling solution, in a move that’s expected to boost demand from non-institutional lenders. By launching on Optimism, TrueFi’s lender community will have access to a faster and cheaper user experience, as well as gain exposure to a wider pool of retail lenders. “TrueFi users can now lend, borrow and launch portfolios on Optimism to enjoy dramatically....
Gnosis and Balancer Labs announced the deployment of the Balancer-Gnosis-Protocol (BGP), a new decentralized exchanged running on top of Ethereum. Felix Leupold, Software Engineer Lead at Gnosis, broke down some key points on the protocol and how it will help users to trade with better cost-efficiency. The Balancer-Gnosis Protocol will converge two components, as part […]
NFTs from Layer 2 were not previously recognizable to apps like Twitter. Optimism developers jvmi and Kelvin Fichter released a new app called Magic Mirror on Nov. 9 that allows NFT holders to copy or “mirror” their Optimism NFTs to the Ethereum mainnet. NFT holders can now use their Optimism NFTs in a variety of verified apps, such as in Twitter’s profile badge system — where previously, only NFTs native to Ethereum Layer 1 could be used.Introducing Magic Mirror: a way to mirror your @optimismFND NFTs on Mainnet so you can have verified NFTs on apps like Twitter ✨....
Lido has around 40% of all the staked ETH on the Beacon Chain. One of the biggest Merge staking providers, Lido Finance has launched on two layer-2 networks Arbitrum and Optimism, a move it says further improves accessibility to Ethereum staking while reducing gas fees.The plan to expand to L2 was first unveiled in July when the team acknowledged that several layer-2 networks had “demonstrated economic activity,” with the new deployment to L2 networks Arbitrum and Optimism launched on Oct. 7. Lido provides liquid staking, which allows more flexibility for stakers as they can withdraw their....
Layer 2 scaling solution Optimism, has secured $150M in funding which it will use to hire new developers and decrease fees on the Ethereum network. Popular Ethereum scaling solution Optimism has announced a $150 million Series B funding round co-led by Andreessen Horowitz (a16z) and Paradigm at a total valuation of $1.65 billion. According to a blog post from Optimism, the Layer 2 (L2) solution has saved users of the Ethereum network over $1 billion in gas fees. The funding will be used to expand the Optimism team and go towards working on reducing network fees even further. Fees on the....