KEY TAKEAWAYS

  • OP Mainnet Scheduled to Upgrade to Bedrock on June 6, 2023 at 16:00 UTC
  • tBTC Goes Live on Arbitrum, Powered by Wormhole and Fueled by Balancer Liquidity
  • Tenet Integrates LayerZero to Attract Liquidity from LSD
Crypto-Pump-Club-970x90

ECOSYSTEM UPDATES

Image 17

OP Mainnet Scheduled to Upgrade to Bedrock on June 6, 2023 at 16:00 UTC

Image 18

Optimism has announced its plans to upgrade OP Mainnet to Bedrock on June 6th at 4 PM UTC. The upgrade process will result in a downtime of 2 to 4 hours for OP Mainnet. This will have an impact on end users as transactions, deposits, and withdrawals will not be available during this period. Node operators will need to set up new nodes specifically designed for Bedrock.

Bedrock represents a comprehensive transformation of the OP Stack, bringing in various enhancements such as gas optimizations, shorter deposit times, and a more streamlined node infrastructure. With Bedrock, multi-client support will be introduced, encompassing Magi and OP Erigon for all OP chains. Additionally, it introduces the concept of the Superchain, which consists of a horizontally scalable network of chains. This Superchain empowers developers to deploy their own rollup with shared security.

For more details, visit here

tBTC Goes Live on Arbitrum, Powered by Wormhole and Fueled by Balancer Liquidity

Image 19

In January, Threshold Network introduced tBTC, a decentralized and scalable Bitcoin-to-Ethereum bridge. Earlier this month, that vision expanded from “Bitcoin on Ethereum” to “Bitcoin, everywhere” via the integration with the interoperability protocol, Wormhole.

Now, tBTC has been launched on Arbitrum One, powered by Wormhole and fueled by Balancer liquidity. tBTC eliminates the need for middlemen and intermediaries, offering a decentralized bridge between Bitcoin and Ethereum. The integration with Arbitrum brings faster transactions, lower fees, enhanced scalability, and more earning opportunities for Bitcoin holders, providing greater freedom to navigate within DeFi.

Tenet Integrates LayerZero to Attract Liquidity from LSD

Image 16

Tenet, a Layer-1 blockchain built on Cosmos technology, is set to enhance DeFi liquidity connectivity between ecosystems through its integration with LayerZero. Originally designed with a focus on DeFi, Tenet aimed to provide a profitable product for LSD (Liquid staking derivatives). By integrating with LayerZero, Tenet is hopeful of attracting substantial liquidity from LSD in the coming times.

LSD products have gained significant prominence within the DeFi ecosystem recently, with notable projects like Lido Finance and Rocket Pool capturing attention during the Shapella upgrade event. This Ethereum upgrade allows users to withdraw ETH Stake, paving the way for LSD projects within the ecosystem to potentially receive billions of dollars in liquidity in the future.

Given the ongoing community interest in LSD products, Tenet’s decision to integrate LayerZero comes as a strategic move to leverage and capitalize on this trend.

Additional Notable Events

Layer2, DeFi, NFT

Follow us to stay updated on everything in the Crypto Currency ecosystem! 

Website | Twitter | Telegram

Crypto-Pump-Club-300x250