Ethereum L2 network Optimism is available on multiple exchanges: locked-up volume ranks among the top three

Since Ethereum scaling solution Optimism announced the issuance of OP tokens and announced the token economics at the end of April, the market has continued to pay close attention to OP. With the launch of OP on May 31 and its listing on multiple centralized exchanges, the market's enthusiasm has risen again.

OP Online

On May 31, according to multiple announcements from third parties, the governance token OP launched by Optimism will be listed on multiple centralized exchanges.

According to official news, OKX will open Optimism token OP recharge at 20:00 (HKT) on May 31, and will open withdrawals at 18:00 (HKT) on June 2. The platform will launch trading as soon as the user's recharge amount meets the opening transaction, and users can transfer funds between OKX and Optimism networks. In addition, OKX will launch OP/USDT leveraged trading, OP/USDT perpetual contracts and Yubibao at 12:00 (HKT) on June 1.

In addition, the Coinbase announcement pointed out that it only supports adding Optimism (OP) on the Optimism network, reminding users not to send this asset through Ethereum or other networks, otherwise the funds may be lost permanently. According to the latest announcement update, due to congestion on the Optimism network, transactions may take longer than usual.

At the same time, the Binance announcement pointed out that it only supports the recharge of OP on the Optimism network, and users cannot recharge OP Token on any other network.

In addition, the Layer2 NFT trading market Quixotic also supports Optimism token OP for trading.

At the same time, Optimism’s official Twitter account announced that the OP governance token airdrop is now officially open for claiming. Optimism said that before the airdrop was officially opened, some users had claimed OP tokens by interacting directly with smart contracts. Due to high loads causing delays in the Optimism blockchain mainnet and remote procedure calls (RPCs), Optimism temporarily restricted the archive node function until the load subsided.

With the launch of OP, L2BEAT data shows that as of June 1, the total locked-in amount on Ethereum Layer2 is 4.65 billion US dollars. Among them, the largest locked-in amount is the expansion solution Arbitrum , which is about 2.49 billion US dollars, accounting for 53.52%. The second is dYdX , with a locked-in amount of 962 million US dollars, accounting for 20.67%. Optimism ranks third, with a locked-in amount of 541 million US dollars, accounting for 11.62%, and a 7-day increase of 8.08%.

In terms of market conditions, OKX data shows that the current OP price is US$1.88, ranking 23rd in popularity and 75th in market value. The price once rose by more than 350%.

L2 attracts capital attention

It is reported that Optimism is one of the Ethereum Layer2 expansion solutions, which aims to establish an Ethereum network and Optimistic virtual machine based on Optimistic Rollup technology to expand Ethereum, reduce transaction fees on Ethereum applications, and improve transaction efficiency and security.

Public chains exist in the blockchain world like operating system platforms. Ethereum stands out among many public chains with its smart contracts, innovation and security, and a variety of applications (DApps) have been built on it. However, in the development of Ethereum, problems such as network congestion and high gas fees have also emerged.

In order to achieve more efficient network operation, someone proposed an idea to separate most of the computing work from the Ethereum main chain, reduce the burden on the main chain network, improve business processing efficiency, and thus achieve capacity expansion. Bitcoin, Ethereum and other public chains are collectively referred to as Layer 1 networks, and the network that shares the computing work is called Layer 2 network. Thus, the concept of Layer 2 was born. Simply put, the role of Layer 2 is to solve the problems of Ethereum network congestion and high gas fees.

There are currently several solutions for Layer2, mainly including state channels, side chains, Plasma, Optimistic Rollup, Validium, and zkRollup.

Optimism is a low-cost and lightning-fast Ethereum L2 blockchain. The official commitment is to maintain the values ​​of Ethereum by producing infrastructure that promotes the growth and sustainability of public goods. It also points out that Optimism is not only writing software to expand Ethereum technology, but also expanding the value of Ethereum by creating tracks for high-impact projects that do not have successful business models.

With the attention aroused by the launch of OP by Optimism, the L2 track has once again triggered market discussions. Ouyi pointed out to Golden Finance that the Layer2 track is the key capital layout sector of OKX Ventures. Optimism, which launched the OP token this time, established a Layer2 network for instant transactions and scalable smart contracts on Ethereum, and created OVM on Optimism, which is designed to be used in conjunction with Ethereum Layer1, which not only retains the security level of Ethereum mainnet but also greatly reduces gas fees. The investment institutions are also Paradigm and A16z, the top investment institutions in the crypto industry.

Layer2 is gaining popularity. It is worth mentioning that the data from the public report in April also showed that Ethereum revenue increased by 46% year-on-year to US$2.4 billion, and the value locked in Layer2 increased by 964% year-on-year to US$7.3 billion.