DeFi Startup Optimism Launches Alpha of Its Uniswap Layer-Two Solution

Transaction capacity on Optimistic Ethereum should be on par with that of the base layer but will be confirmed instantly, the startup said.

AccessTimeIconJul 14, 2021 at 1:29 a.m. UTC
Updated Sep 14, 2021 at 1:25 p.m. UTC
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After a long wait, decentralized finance (DeFi) startup Optimism has launched its Alpha layer two (L2) solution for Uniswap via the Optimistic Ethereum (OΞ) mainnet.

The "move marks the first step for DeFi applications (dapps) to rival and surpass traditional web user experiences," the startup said in a blog post on Tuesday.

DeFi exchange Uniswap's transactions are conducted on Ethereum and accompanying gas fees which have, at times this year, reached unsustainable highs. Solutions such as Optimism's seek to reduce costs associated.

During the Alpha period, OΞ will support an initial throughput of 0.6 transactions per second, the startup said in its post.

As a result of Uniswap's third iteration, known as version 3 (v3), and being one of the few protocols deployed on the startup's mainnet, transaction capacity should be in line with layer one (L1) results.

Unlike L1 though, transactions on OΞ should be confirmed instantaneously, the startup said.

"No more pending or stuck swaps," said Optimism, whose focus has been on developing rollups – solutions that perform transactions outside Ethereum's L1 chain in a bid to scale and reduce costs.

Optimism's launch comes almost two years after its Unipig exchange release – a demo testnet of Uniswap showcasing what's possible with L2 solutions to scale transactions and smooth the user experience.

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