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
ECOSYSTEM UPDATES
OP Mainnet Scheduled to Upgrade to Bedrock on June 6, 2023 at 16:00 UTC
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
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
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
- The next Optimism $OP token unlock event will take place soon
- $rETH bridging is now supported on Ethereum, Optimism, and Arbitrum.
- LEVEL Finance $LVL token is now live on Arbitrum
- Linea now has a new faucet powered by Infura
- LayerZero Labs is now live on Canto Public mainnet
- TVL of Layer 2 Ethereum Scaling Solutions On-chain Data
- Linea has been integrated into the Orbiter Finance testnet
- Gelato is now live on the zkSync mainnet & testnet with both Gelato Relay & 1Balance
- Starknet concluded Round #1 of Early Adopter Grants (EAG) for builders on StarkNet
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