00:00Welcome back to Decentralized.News. In today's news story, Balancer has gone live on Ethereum Layer 2 Network Optimism.
00:09So they've partnered up with Opera Phantom for Beethoven X to execute the Optimism deployment.
00:18So really what's important to note there is that Balancer has indeed launched on the Ethereum Layer 2 Network on Optimism.
00:26And Beethoven X, Balancer's first friendly fork on the Phantom blockchain, also led the front end into creation efforts.
00:36And Balancer's deployment on Optimism is actually coming just after the network launched its OP governance token.
00:45So this is quite interesting. If you want to find out more about Balancer or Beethoven X, then go to Decentralized.News.
00:54We have the full reviews to these platforms.
00:58So obviously, Balancer in itself is the latest DEX to arrive on Optimism.
01:03And the leading decentralized exchange currently ranking in the top five in terms of total value logged on Ethereum,
01:11made an announcement that it had launched on the Layer 2 scaling solution on Optimism.
01:17And the move actually marks Balancer's third EVM chain integration after expanding to the Layer 2 Network Arbitrum and Ethereum sidechain polygon as well.
01:30So Optimism is one of the several projects that are working to help Ethereum achieve its scalability.
01:38It leverages a technology called Optimistic Rollups, a scaling solution that effectively bundles transactions together on a separate network,
01:48then settles them as a single transaction on the Ethereum mainnet.
01:54And Layer 2 networks based on Optimistic Rollups like Optimism and Arbitrum can also provide vast, you know,
02:03higher transaction throughput and also significantly more affordable fees while also leveraging Ethereum's security and its decentralization.
02:15So Optimism also launched its OP governance token via a airdrop to select eligible users generating a type of hype around the network
02:27and also leading to a notable uptick in the total value logged across its DeFi ecosystem.
02:34So the liquidity will also be further supplemented by Balancer's launch on the network.
02:41And Balancer is also an innovative DeFi protocol offering different products,
02:47including flagship decentralized exchange that supports multi-token liquidity pools managed by custom automated market maker formulas
02:56and then automated portfolio manager as well.
03:00So, you know, one of the co-founders of Balancer Labs did say that launching on Optimism means Balancer is recognizing that it is a leading L2 solution.
03:16It's a distinctive scalability while inheriting Ethereum security led to the recognition
03:23that it will enhance the user experience and also propel growth.
03:28And L2s show the promise that reducing transaction fees and network congestion is possible.
03:36And so they are looking to bring the same to the Optimism ecosystem.
03:42So the front-end development will be led by the exchange's first friendly fork on the Ethereum blockchain,
03:48on the Phantom blockchain, I apologize, which is a Bithoven X.
03:52And this, you know, they'll tend to lend their technical experience and to the Balancer team
03:59to help the protocol become a top DeFi layer in the Optimism ecosystem.
04:05So this is an interesting development.
04:08If you're a fan of Balancer and if you've been looking at Bithoven and Optimism and all of these solutions,
04:19if you're particularly interested in kind of anything that has some links to the Ethereum ecosystem,
04:25then this is maybe good news.
04:27You want to check that out.
04:28Let me know what you guys think.
04:29Don't forget to check out the links in the description to my books,
04:32Tokenized Trillions and Blockchain Applied.
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04:41See you in the next video.
04:43Peace.
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