Balancer launches on Ethereum L2 network Optimism - BitcoinEthereumNews.com
EthereumInilunsad ang Balancer sa Ethereum L2 network Optimism06 / 03 / 2022Balita ng Ethereum ng Bitcoin 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. Balancers 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 developed a decentralized exchange that is set to compete in the Optimism ecosystem. Balancer Labs CEO Fernando Martinelli said his projects Optimism deployment reflects the belief that layer-2 scaling solutions will be effective in reducing transaction fees and network congestion. Optimism is a layer-2 scaling solution designed to bring faster and lower-cost transactions to Ethereum. The network is said to support all decentralized applications on Ethereum via Optimistic Rollups, a scaling solution that operates in parallel with the main Ethereum chain. Currently, Optimism has over $320 million in total value locked (TVL) on its chain from 38 projects, ayon sa to industry data. Its TVL peaked north of $510 million in late April. It currently ranks 19th in overall network value. Like other DeFi-focused