This week: Optimism network’s “Bedrock” upgrade, Sushi’s DEX Aggregator, zkSync x Layer Zero Airdrop Strategy tutorial, and more Ethereum updates.

KEY TAKEAWAYS

  • Optimism Network Implements Bedrock Upgrade: Enhancing Efficiency and Security for the Superchain
  • Sushi Launches DEX Aggregator: Improving Swaps and Expanding Liquidity
  • Velodrome Finance Unveils Velodrome V2: Revolutionizing Decentralized Exchanges
  • Rocket Pool Expands to zkSync Era: Enhancing Ethereum Staking with Faster and Cheaper Transactions
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ECOSYSTEM UPDATES

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Optimism Network Implements Bedrock Upgrade: Enhancing Efficiency and Security for the Superchain

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Optimism network completes the “Bedrock” upgrade, bringing reduced deposit times, lower fees, and improved security features. 

The upgrade aims to create a scalable Web3 network known as the “Superchain” using Optimism’s OP Stack software. Gas optimizations lead to a 40% reduction in data availability fees on Ethereum, resulting in lower gas fees on Optimism. The upgrade enables recognition of chain reorganizations, reducing deposit times to one minute. The two-step withdrawal process enhances security against bridge exploits. The upgrade also sets the stage for future development of the OP Stack, allowing for customizable blockchain networks and easy transition for validators.

Sushi Launches DEX Aggregator: Improving Swaps and Expanding Liquidity

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Sushi has introduced its own DEX aggregator, enhancing user trading experience and expanding asset options. The aggregator utilizes complex algorithms to find the most cost-effective routes for swaps, consolidating liquidity from multiple exchanges. 

This move aligns with Sushi’s vision for 2023, aiming to offer optimal pricing and increased trading opportunities. The aggregator benefits users by providing a unified interface and saving costs. Liquidity providers (LPs) also gain advantages through increased swap fees and the ability to tap into new token markets. Sushi’s DEX aggregator positions it as a leading hub for swaps in the DeFi space.

Velodrome Finance Unveils Velodrome V2: Revolutionizing Decentralized Exchanges

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Velodrome Finance celebrates its 1-year anniversary and announces Velodrome V2, a protocol overhaul for decentralized exchanges. Velodrome V2 offers enhanced user experience, improved security, and simplified smart-contract architecture. 

New features include concentrated liquidity pools, customizable fees, and automated veNFT management. V2 introduces a decentralized frontend, customizable pool names and symbols, simplified LP deposits, and unique veNFT artwork. It also allows for longer lock states and managed veNFTs. Velodrome’s governance and utility tokens will be replaced with the new VELO token and veNFTs in V2. Upgradability and governance delegation are included as well.

For more details, visit here

Rocket Pool Expands to zkSync Era: Enhancing Ethereum Staking with Faster and Cheaper Transactions

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Rocket Pool, an Ethereum staking provider, has deployed on the zkSync Era network, becoming the first liquid staking protocol on the platform. 

Operating on zkSync Era allows Rocket Pool users to enjoy faster and cheaper transactions with their token rETH, enhancing the DeFi experience. Rocket Pool is already active on Optimism and Arbitrum, Ethereum Layer 2 networks. 

zkSync Era is a Layer 2 network that uses zero-knowledge proofs and is compatible with Ethereum. Rocket Pool offers non-rebasing tokens, distinguishing it from other liquid staking providers. Lido Finance, Coinbase, and Frax are among the other providers in this space.

For more details, visit here

Additional Notable Events

Layer2, DeFi, NFT

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