Layer2 Observer Weekly Newsletter #26


Chainlink, a decentralized oracle protocol, goes live on Optimism

The decentralized oracle protocol, Chainlink, announced that it was officially launched on the Ethereum scaling network, Optimistic Ethereum, to provide various market price feeds for the network.

Chainlink stated that Synthetix has integrated Chainlink price feeds in Optimistic Ethereum, enabling low-latency and low-cost oracle data updates. In addition, the integration supports synthetic asset trading on Kwenta, option trading on Lyra, and binary options of Thales.

Further reading:

StarkNet launches Alpha 2

StarkNet launches Alpha 2 version, and is preparing to launch the Alpha version of the mainnet with a set of whitelisted applications. The Alpha 2 version supports interaction between smart contracts and provides a better local testing framework, allowing developers to test their contract deployment and interaction locally, thereby speeding up DApp development.

However, this version includes onlyL2 interaction, and the next version will expand functionality and ease of use. In addition, this version can achieve higher throughput and shorter proof generation time, and is migrating from Ropsten to Goerli network.

Further reading:

Vitalik Buterin: Migrating NFTs to Layer 2, how to make them cross-Rollup friendly?

On September 8, Ethereum co-founder Vitalik Buterin posted a proposal on how to make NFT cross-Rollup friendly and allow NFT to flow throughout the Layer 2 ecosystem.

The background of this proposal is about the recent rapid development of the NFT ecosystem, which has become an important part of Ethereum’s gas consumption. However, the ecosystem is relatively young and mostly non-financial, thus it is necessary to avoid high expenses. Those are what make NFT the target to move to Layer 2.

But simply migrating the NFT to a single Rollup platform such as Arbitrum will also cause important issues such as system security, single network is incapable to handle, and interoperability. Therefore, Vitalik proposed this cross-rollup friendly proposal for NFT.

Related reading:

Smart contract to swap HEZ for MATIC is live

On August 13, Polygon announced the acquisition offer of USD 250 million to Hermez Network, a L2 scaling solution. OnSeptember 6, Polygon Hermez stated that HEZ holders can use the official App to swap HEZ for MATIC at a rate of 1:3.5. Users need to transfer HEZ tokens from Polygon network or centralized exchanges to the Ethereum mainnet address for swap.

Polygon Hermez said that the swap smart contract will be valid for at least three years. The team is currently working with the Polygon team to integrate MATIC into Polygon Hermez ZK-Rollup and develop an updated consensus mechanism.

Here is the link to convert HEZ to MAtic:

Extended reading:

Layer 2 NFT trading platform Immutable X is open to all users on the minting and trading services

Immutable X, the layer 2 NFT trading platform, announced the launch of minting and trading services to all users. Users can mint and trade NFTs with zero gas fees. Immutable X is developed by the developing team behind the card game Gods Unchained. This NFT trading platform is based on StarkWare ZK Rollup technology.


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