Synthetix, a decentralized derivatives and synthetic asset trading protocol, has launched trading on the Optimistic Ethereum layer 2 extended platform.
Synthetix protocol exchange Kwenta announced its long-awaited release on July 30. It enables exchanges to use optimistic aggregation techniques to provide faster transactions and lower fees.
Initially, there will be only four Synthetic assets Can be used for the second layer of transactions-sUSD, sETH, sBTC and sLINK. The data collected from this alpha release and testing phase will enable the protocol to optimize the second layer of synthesizer transactions and prepare for the beta release, announcement Say.
The second tier of transactions will provide users with approximately 50 times reduction in natural gas fees and “extremely fast transaction speed.”
-Optimism (@optimismPBC) July 29, 2021
The Synthetix community will monitor the early performance on the extended platform and gradually vote for other synthetic assets for trading as they see fit.
Optimistic Ethereum (OΞ) use Roll-up technology Assume that all transactions are correct instead of verifying every transaction. Users only need to intervene when they see an incorrect transaction before submitting a “fraud proof.”
Earlier this month, Uniswap announced the launch of its Version 3 on Optimistic Ethereum platform.
It feels surreal to finally come here! DeFi Summer 2.0 OΞ version begins.
-kain.eth (kaiynne) July 29, 2021
In related development, the Thales platform based on Synthetix has just been launched. Thales is a DeFi platform that provides binary options-style trading, allowing traders to speculate on the price changes of the underlying market or crypto assets. There are two possible outcomes, which is why they are considered binary.
Thales DApp provides more than 60 different assets, including cryptocurrencies, commodities, stocks and index products, to create markets, mint binary options tokens and trade on the platform.
It introduces some experimental Olympic sports market, enabling users to bet on variables such as “Will the United States win the most gold medals?” Or “Can the Australian men’s basketball team win the gold medal?” The answer is binary, and the result is yes or no. You can bet with sLONG or sSHORT tokens.
Still on the topic of the second layer, Loopring DEX has Announce Cooperation with StarkWare, a second-tier solution provider. The partnership introduces a cross-L2 automated market maker that shares liquidity between layers called dAMM, where “d” stands for “decentralization.” Loopring predicts that the platform will become “one of the most basic primitives for extending DeFi.”