Welcoming Optimism chain to Flooz

Operating as a Layer 2 network, OP Mainnet is strategically positioned atop Ethereum's architecture, extending its capabilities while preserving the robust security measures of Ethereum.

This configuration enables developers and crypto users to experience rapid transactions at minimal fees, presenting an attractive proposition for those seeking efficiency without compromising security. Furthermore, Optimism introduces the "Superchain" thesis, further enhancing the value proposition of OP Mainnet. This innovative approach promises a holistic and optimized solution within the Ethereum ecosystem.

In essence, OP Mainnet represents a pivotal advancement in Ethereum's scalability, offering a cost-effective and high-performance L2 blockchain for the benefit of the entire Ethereum community. How does it work? Optimism, a network utilizing optimistic rollups, employs a unique approach to transaction processing, aiming to enhance efficiency and reduce costs.

Transactions are processed off-chain in batches, a technique that significantly cuts down on transaction fees and eases network congestion. Optimism achieves this by bundling multiple transactions from Ethereum's Layer 1 into a single transaction on its Layer 2 network, OP Mainnet. This way, the transaction fee is distributed among all users involved, ensuring a fair and cost-effective system. The process is coined as "optimistic" because each transaction is initially assumed to be valid on Optimism's Layer 2 without immediate computations. In case of suspicion of fraudulent activity, a fraud-proofing mechanism is activated to verify the transaction's validity. It's important to note that optimistic rollups differ from zero-knowledge rollups, also known as pessimistic rollups. Zero-knowledge rollups require proof of transaction validity before reaching the main Ethereum blockchain, making them more expensive. Optimistic rollups, in contrast, prioritize affordability by assuming the validity of transactions first and conducting verifications only when necessary. This approach makes transactions on optimistic rollups typically more cost-effective for users.

That was a lot to digest, we know...

But that goes to show how in depth and valuable Optimism truly is and we are excited for the chain swapping to begin.

If you want to check out the other cross-chain networks that we have just added to our platform, you can check them out here 👈

📊 Take a look at the stats

Now for the fun part... the statistics. Starting off with the TVL (Total Locked Value), Optimism is sitting at $1B... Incredible. Next up, Optimism has so far saved $3B+ Gas fees for users, which is a crazy amount of money and illustrates the positive impact it has. On top of this, Optimism has had 141M+ Transactions on OP Mainnet and it's governance token $OP sits at around a $3.5B market cap. This is a project that is flying and is only looking to further the value they already provide to the crypto world.

🚀 Top 10 Optimism projects to trade

With the Optimism network now available on our platform for cross chain swaps, here are the top 10 projects using their blockchain: Let’s jump in 👇

👀 What's been happening with Optimism?

Now we know all about Optimism, let's see what they've been working on... Firstly, being the second biggest Layer 2, competition is high, but luckily there is not messing by Optimism. In fact, they have an upgrade on its way. Optimism Delta upgrade activated on the mainnet on February 22, effectively reducing Layer 1 costs, furthering the value they are adding to investors and developers involved. Next up, Optimism launched its first Security Council, a collective that assumes control of keys and multisigs for the Foundation on February 9th. The Collective launched its first Security Council and established a 2/2 multisig. This multisig is authorized to sign protocol upgrades for OP mainnet. The two signers are the Optimism Foundation and the Security Council. And finally, the governance token for Optimism ($OP) which has a market cap in the region of $3.5B had a recent token unlock worth around $85M, releasing roughly 2.5% into the circulation of tokens.

That's it! You're caught on for Optimism.

Don't forget, if you want to find out more about our latest swap features and available networks, you can check it out here 👈