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Uniswap proposes a 1bp fee tier on Optimism.
Teller launches “buy now pay later” for NFTs.
PoolTogether adds support for Optimism.
Hop Protocol releases its transfer delay post-mortem.
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A proposal for a 1bp fee tier on UniswapV3 for the Optimism network is now live for voting. A 1 bps fee tier provides traders with better rates and increases swap volume. Uniswap is targeting Optimism first as projects are currently incentivized to bring activity to the L2 by way of its $OP governance token grants. Last year, Uniswap implemented a 1 bp fee tier for V3 on Ethereum Mainnet and Polygon. Curve governance later moved to change the 3pool base fee to 1bp in order to stay competitive. Currently, the lowest fee tier on Uniswap for L2 networks is 5bps. Voting for the proposal is taking place on Ethereum Mainnet until July 15th.
PoolTogether, a prize savings protocol, has added support for deposits on Optimism. The protocol already supports USDC deposits on Ethereum, Polygon, and Avalanche. With PoolTogether, users deposit USDC into a savings account for a chance to win a share of daily prizes. The protocol uses deposits to earn yield on protocols like Aave. PoolTogether uses ChainLink VRFs to raffle the interest earned from user deposits. Each depositor has a chance to win interest payments weighted by their average deposit size. The platform is coined as a No Loss protocol because user funds are not wagered and can be withdrawn at any time.
Reaper Farm, an auto-compounding yield aggregator, has added support for Optimism. The integration currently supports deposits into four of Reaper Farm’s Crypts, which are buckets with various strategies including pooling, leveraging, and staking. The platform first launched on Fantom and remains in the beta phase.
Teller Protocol has revealed the launch of its “Ape Now, Pay Later” dapp for financing NFTs. The application works by locking NFTs in an escrow wallet during the repayment cycle. The NFT is then released once a loan is paid in full. Currently, the service offers 90-day loans at 30% APR. Depending on the project, buyers are required to pay a minimum down payment between 25% and 50%. If a borrower fails to make regular monthly payments, the down payment and NFT is liquidated to repay the loan. The funds are provided by users who offer liquidity through Teller’s crypto lending platform.
Hop Protocol released its transfer delay post-mortem, revealing issues it faced from Arbitrum Odyssey’s bridge week. During heavy traffic, some users reported a delay of up to 3 days when bridging assets. One issue was tied to the number of transfers being made exceeding the number of transfers the bonder could process. Hop also faced RPC issues including downtime and 42 missed events from the Alchemy RPC, which is used by some bonders. A third party also allowed its users to bridge with Hop even when there was no liquidity. All transfers on the bridge were eventually completed without any loss of funds.
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