key takeaways
- Balancer has launched on Ethereum Layer 2 Network Optimism.
- Beethoven X, Balancer’s first friendly fork on the Phantom blockchain, led the front-end integration efforts.
- Balancer’s deployment on Optimism comes just a day after the network launched its OP governance token.
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Balancer is the latest decentralized exchange to arrive at optimism.
The Balancer Comes to Optimism
Balancer has launched on optimism.
The leading decentralized exchange, which currently ranks in the top five by total value locked on Ethereum, today announced that it has launched an Ethereum Layer 2 scaling solution, Optimism. The move marks Balancer’s third EVM chain integration after expanding to Layer 2 networks aribatrum and ethereum sidechain polygon,
Optimism is one of several projects working to help Ethereum achieve greater scalability. It leverages a technology known as Optimistic Rollup, a scaling solution that bundles together transactions on a separate network and then settles them as a single transaction on the Ethereum mainnet. Layer 2 networks based on optimist rollups such as Optimism and Arbitrum can deliver extremely high transaction throughput and significantly more affordable fees, taking advantage of Ethereum’s improved security and decentralization.
On Wednesday, Optimism released an . Launched its OP Governance Token via airdrop For a select number of eligible users, generating significant publicity around the network and leading to a significant growth total closing price in your DeFi ecosystem. Today, the increase in DeFi liquidity will be further complemented by the launch of Balancer on the network. Balancer is an innovative DeFi protocol that offers a range of products, including its leading decentralized exchange that supports custom automated market maker formulas and multi-token liquidity pools managed by an automated portfolio manager.
Commenting on the integration in a press release, Balancer Labs co-founder and CEO Fernando Martinelli said:
“By launching on Optimism, Balancer is recognizing that it is a leading L2 solution. Its distinctive scalability, while inheriting the security of Ethereum, recognizes that it will enhance the user experience and accelerate development of L2s. shows promise for reducing transaction fees and network congestion, and we are excited to bring our technology to the Optimism ecosystem.”
Balancer’s front-end deployment will be led by the exchange’s first friendly fork on the Phantom blockchain, Beethoven X, which will provide Balancer’s team with their technical prowess to help the protocol become a top DeFi player in the Optimism ecosystem.
Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.
