The central theses
- Balancer launched Optimism on the Ethereum Layer 2 network.
- Beethoven X, Balancer’s first friendly fork on the Fantom blockchain, led the front-end integration effort.
- Balancer’s deployment on Optimism comes just a day after the network launched its OP governance token.
Share this article
Balancer is the latest decentralized exchange to hit Optimism.
Balancer comes to optimism
Balancer started on optimism.
The leading decentralized exchange, currently ranked in the top 5 by total Ethereum value, announced today that it has launched the Optimism Ethereum Layer 2 scaling solution. The move marks Balancer’s third EVM chain integration after expanding to Layer 2 networking arithmetic and Ethereum sidechain polygon.
Optimism is one of several projects working to help Ethereum achieve greater scalability. It uses a technology known as Optimistic Rollups, a scaling solution that pools transactions on a separate network and then settles them as a single transaction on the Ethereum mainnet. Layer 2 networks built on optimistic rollups like Optimism and Arbitrum can offer significantly higher transaction throughput and significantly cheaper fees while leveraging Ethereum’s superior security and decentralization.
On Wednesday, Optimism launched its OP governance token via a air drop to a select number of eligible users, generating significant hype around the network and resulting in a notable upward trend total locked about its DeFi ecosystem. Today, this increase in DeFi liquidity is further complemented by the introduction of balancers into the network. Balancer is an innovative DeFi protocol that offers multiple products including its decentralized flagship that supports multi-token liquidity pools managed by custom automated market maker formulas and an automated portfolio manager.
Commenting on the integration in a press release, Balancer Labs co-founder and CEO Fernando Martinelli said:
“By introducing Optimism, Balancer recognizes that it is a leading L2 solution. Its distinct scalability, while inheriting the security of Ethereum, led to the realization that it will improve user experience and drive growth. L2s promise to reduce transaction fees and network congestion, and we’re excited to bring our technology to the Optimism ecosystem.”
Balancer’s front-end deployment will be led by Beethoven X, the exchange’s first friendly fork on the Fantom blockchain, who will lend his technical skills to Balancer’s team to help the protocol become a top DeFi -Become a player in the Optimism ecosystem.
Disclosure: At the time of writing this article, the author of this article owned ETH and several other cryptocurrencies.
Share this article
The information on or through this website is obtained from independent sources which we believe to be accurate and reliable, but Decentral Media, Inc. makes no representations or warranties as to the timeliness, completeness or accuracy of any information on or through this website. Decentral Media, Inc. is not an investment advisor. We do not provide personalized investment advice or any other financial advice. Information on this website is subject to change without notice. Some or all information on this website may be or become out of date, incomplete or inaccurate. We have the right, but not the obligation, to update any information that is out of date, incomplete or inaccurate.
You should never make an investment decision about any ICO, IEO or any other investment based on the information on this website, and you should never interpret or otherwise rely on the information on this website as investment advice. We strongly encourage you to consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO or any other investment. We do not accept compensation in any form for analysis or coverage of ICO, IEO, cryptocurrency, currency, tokenized sales, securities or commodities.
See full terms and conditions.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.