- Conduit unveils its OP Chain launch platform.
- Notional Finance introduces its V3 upgrade.
- Polynomial launches a perpetual DEX on Optimism.
- EigenLayer raises a $50 million Series A.
Optimism Highlights 🔴✨
Conduit OP Chain Launch Platform
Conduit unveiled its infrastructure platform for deploying production-grade rollups on the OP Stack. Conduit operates, maintains, and performs upgrades for rollups deployed on its platform. Rollups are equipped with custom testnets, a block explorer, auto-scalable RPCs, a metrics dashboard, and a transaction tracer. Rollups deployed on Conduit will be interoperable with other rollups on Optimism’s Superchain, including Base. Just like Base, Conduit committed a portion of the transaction fee revenue to the Optimism Collective. Rollups on Conduit will also be eligible to earn a share of the sequencer fees and MEV from their rollup. Conduit raised $7 million in a seed round led by Paradigm.
Polynomial Launches Perpetual DEX On Optimism
Polynomial launched Polynomial Trade, a new Optimism-native perpetual DEX built on top of Synthetix. Polynomial Trade features 5-10 bps fees, limit orders, smart wallets, and up to 25x leverage. It also uses off-chain oracles by Pyth Network, a decentralized network of Keepers that competes to execute user orders. Polynomial Trade users are also eligible for a share of weekly OP rewards as part of Synthetix Perps v2 trading incentives. Polynomial plans to add support for one-click basis trading positions, allowing traders to benefit from a positive funding rate. Polynomial is an Optimism-native protocol that offers options vaults built on Lyra Finance.
Notional Introduces V3 Upgrade
Notional Finance announced Notional V3, an upgrade to the protocol that introduces a native variable lending market called the prime money market. The new market allows variable-rate lenders to access leveraged yield by lending unutilized funds to other protocols. The upgrade will also remove dependency on Compound V2. Notional V3 also features multi-currency leveraged vaults, a new vault type that supports borrows in two or more currencies at once. Multi-currency leveraged vaults provide users with exposure to both sides of a liquidity pool, reducing price risk. Notional plans to deploy V3 to mainnet after security audits are completed in early June.
EigenLayer Raises $50 Million Series A
EigenLayer, a re-staking solution, raised $50 million in a Series A funding round led by Blockchain Capital. EigenLayer allows stakers to secure other networks by directing their staking withdrawal address to a conditional contract. The solution can be used across protocols, including oracles, data availability layers, and sequencers. The fresh capital will be used for hiring, code audits, and helping onboard the next group of application developers. EigenLayer is led by Sreeram Kannan, a former Associate Professor at the University of Washington and Director of the UW-Blockchain-Lab.
Shappella Upgrade Scheduled For April 12th
The Shapella upgrade on Ethereum Mainnet has been scheduled to activate at epoch 194048, which will occur on April 12th at 10:27 PM UTC. Shapella-ready versions are now available for all consensus layer and execution layer clients. The Ethereum Foundation has also doubled the bug bounty for Shapella-related vulnerabilities found between now and April 5th.