Optimism Delta Network Upgrade

The upgrade introduces Span Batches, a new batching specification designed to significantly reduce L1 posting costs.

Optimism Delta Network Upgrade

Quick Take

  • Test in Prod proposes Delta upgrade
  • Redacted integrates Chainlink CCIP.
  • Ondo Finance launches Ondo Points.
  • Besu and Nimbus hotfix client releases.

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Optimism Delta Network Upgrade

Test in Prod, an independent group contributing to the Optimism Collective, proposed the Delta network upgrade for OP Stack chains. The upgrade introduces Span Batches, a new batching specification designed to significantly reduce L1 posting costs. For inactive chains, the cost reduction is up to 97%, and for active chains like OP Mainnet and Base, it reduces costs by up to 11%. Span Batches work by encoding consecutive L2 blocks into a single batch, reducing the number of posts to L1 Ethereum. Span Batches aim to reduce the risks associated with launching new OP Stack chains that have low initial activity. Span Batches is a consensus-critical feature, requiring a hard fork to implement. The upgrade is scheduled to go live on February 15th, pending governance approval.

Redacted Cartel, a stablecoin liquidity protocol, integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable cross-chain transfers for its native pxETH LST.  The integration leverages Simplified Token Transfer capabilities to allow pxETH to be transferred across Optimism, Arbitrum, and Ethereum. Chainlink Simplified Token Transfers use audited token pool contracts to burn and mint tokens cross-chain. pxETH is part of Redacted’s overcollateralized stablecoin protocol known as Dinero. pxETH holders earn rewards from staking amd MEV as well as auto-compounding rewards if pxETH is deposited into a rewards vault.

Ondo Launches Ondo Points

Ondo Finance, a protocol specializing in onchain securities, rolled out the Ondo Points program to reward stablecoin and Ondo ecosystem users. The first distribution of points is allocated to users who held uninvested USDC and USDT from January 26, 2023, to December 2023. The allocation is calculated on the potential interest users missed out on. Last year, Ondo Finance introduced OUSG, a tokenized U.S. short-term treasury that is primarily backed through ETFs managed by BlackRock and Pimco. Ondo also launched a yield-bearing stablecoin called USDY, developed in partnership with Flux Finance. Ondo plans to announce further points phases in the upcoming months.

Besu And Nimbus Hotfix Client Releases

Hyperledger Besu released version 23.10.3 of its execution client, aimed at resolving a critical bug in Besu’s state database. The hotfix release focuses on resolving issues related to selfdestruct preimages and trielog failures. Node operators using Besu are urged to upgrade their client version. To repair the state database, node operators will need to resync Besu, which can be done by initiating a backward sync. In a separate issue, Nimbus released hotfix version 24.1.1 of its consensus client, addressing a crashing bug found in its previous release.

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