THELOGICALINDIAN - Synthetix Staking is alive on Optimistic Ethereum SNX holders can now admission the app on the Optimistic Rollup solution
Synthetix doubles bottomward on Layer 2.
Synthetix Integrates Optimistic Ethereum
Synthetix staking is now accordant with Optimistic Ethereum.
Synthetix appear the amend in a blog post, pointing out the bigger user acquaintance and broadcast appearance that the Staking artefact offers over its Mintr apparatus (Mintr was ahead the alone way to pale on Layer 2).
The capital DeFi project, accepted as a clamminess agreement for constructed assets, has been active on Optimism’s testnet for several months. Optimism is acquisitive to accomplish Ethereum added scalable by leveraging Optimistic Rollups, a blazon of Layer 2 band-aid that uses a sidechain to accelerate affairs to Ethereum as calldata. Rollups, which additionally appear in the ZK-Rollup variety, are advised to facilitate accelerated and bargain affairs on top of Ethereum. Optimism is arguably the best advancing Layer 2 solution. Last anniversary the aggregation postponed its mainnet launch; it’s now slated for July or ancient after.
Synthetix was the aboriginal above DeFi activity to accept Layer 2 Ethereum, admitting others accept abutting the chase amidst ascent gas fees. Uniswap appear that it would arrange its acute affairs on Optimism anon afterwards its V3 amend goes live. Yesterday, Aave detailed its plans to body on Polygon, which currently uses claret and a sidechain with its own proof-of-stake accord algorithm. It will anon abutment rollups and standalone chains, too.
With Synthetix Staking alive on Optimistic Ethereum, SNX holders can now acquire staking rewards, paid in SNX. There are additionally Synth barter rewards, paid in sUSD. This constructed dollar can again be traded for added Synths on the Synthetix exchange, Kwenta. Synthetix supports Synths for gold, Bitcoin, and as of the aftermost few weeks, Tesla, forth with assorted added assets. It gives DeFi users a way to accretion acknowledgment to a advanced array of assets from acceptable markets in a permissionless way. Once absolutely accomplished on Ethereum’s Layer 2, it could be badly confusing in the future.
Synthetix is one of the best accepted DeFi protocols, accepted as a “blue chip” of the ecosystem. It has a bazaar cap of about $2.8 billion, according to CoinGecko.
Disclosure: At the time of writing, the columnist of this affection endemic SNX, ETH, AAVE, MATIC, and several added cryptocurrencies. They additionally had acknowledgment to UNI in a cryptocurrency index.
