And it has, you know, things like _ 0:03:11, which is just a tokenized version of something like silver, but it also has futures as well, so you can trade, you know, with leverage and other things. So, things like Bitcoin that are not native things, like commodities and forex that obviously are not native to Ethereum blockchain, you can get exposure. So, Synthetix is a synthetic asset protocol, so it basically gives you access to different assets on Ethereum. Great, and Kain, why don’t you describe what Synthetix is, what you do there, and then why Synthetix has been working with Optimism for layer 2.
#Optimism crypto series#
So, basically what this means is it gives you a version of Ethereum that is not constrained by the same, you know, sort of gas fees that you’re constrained with on Ethereum itself, but gives you all the same properties, makes it faster, and it’s much cheaper.Īs far as sort of the origin story, you know, there’s like a whole diatribe I could do about public goods and all this stuff that I’ll get into later, but basically we started as a nonprofit trying to solve the problem of scaling Ethereum, and eventually that evolved through a series of technical changes, we improved and improved and improved, and we finally found the thing that we were going to build called an optimistic rollup, and we knew that Optimism was a great name for that, and here we are today. But in short, Optimism is a layer 2 scaling solution for Ethereum. It is the Optimism Collective, which is a very recent, exciting announcement I’m sure we’ll get into. So, very excitingly, now I can say that Optimism is something more than just a company. Ben, why don’t you describe what Optimism is, what your role is, and yes, how you have been working with Synthetix. Kain, you’ve been on the show before, so we will start with Ben. Let’s start with a brief description of what you and the projects you’re working on do, and then also how your teams came to work together. Here to discuss are Kain Warwick, founder of Synthetix, and Ben Jones, co-founder and chief scientist at Optimism Foundation. Today’s topic is what is up with layer 2. Request your fiat on/off ramp solution now at /crypto. Welcome to a new world of crypto-friendly banking with Cross River Bank. Deposit funds into Beefy’s secure vaults to auto compound yields across 12 blockchains. Beefy is the easiest way to earn more from your crypto. This episode of Unchained is brought to you by Beefy Finance, the multi-chain yield optimizer.
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#Optimism crypto full#
I started covering crypto seven years ago, and as a senior editor at Forbes was the first mainstream media reporter to cover cryptocurrency full time. I’m your host, Laura Shin, author of The Cryptopians. Welcome to Unchained, your no-hype resource for all things crypto. How Synthetix became the second-largest DeFi platform.What is the difference between optimistic and ZK rollups? And why did Synthetix choose Optimism?.What are the biggest risks to optimistic rollup chains?.how the merge could affect Optimism and Synthetix.why Optimism is a staunch backer of EIP 4844.what Kain and Ben think about bridging between L2s and Mainnet.why Ben thinks the future is about the “superchain” rather than multi-chain.why whales might be excluded from Optimism’s token grant to Synthetix.what retroactive public goods funding is and how it could create a “flywheel” of development on Optimism.