"By launching on Optimism, Balancer is recognizing that it is a leading L2 solution. Its distinctive scalability, while inheriting Ethereum's security, led to the recognition that it will enhance the user experience and propel growth. L2s show the promise of reducing transaction fees and network congestion, and we are excited to bring our technology to the Optimism ecosystem." - Fernando Martinelli, Balancer Labs CEO & Co-Founder.
The front end of the Optimism deployment will be led by Balancer's collaboration with Beethoven X. The cumulative expertise from both teams results in a DEX with the technical prowess and innovative capabilities needed to become a formidable player in the Optimism ecosystem.
Optimism supports all DApps in the Ethereum network by using a technique known as optimistic rollups. Optimistic rollups assume all transactions in the rollup are valid, thereby increasing Ethereum's transactions per second and drastically decreasing fees - securing over $600 million in on-chain value.
Exceedingly expensive transaction fees, growing network congestion, and an inability to scale significantly stifle the growth of the $600 billion Ethereum network. Currently, Ethereum can only support around 30 transactions per second, resulting in the aforementioned issues.
"We are incredibly excited to see Balancer going live on Optimism. Balancer is an important DeFi building block and seeks to bring a more flexible trading experience to the ecosystem. Moreover, working...
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