Optimism Introduces The Law Of Chains

A bridge token standard featuring Alchemix Finance as the first integrator.

Optimism Introduces The Law Of Chains

Quick Take

  • Connext Network implements xERC-20 tokens.
  • Public Goods Network goes live on mainnet.
  • Optimism introduces the Law of Chains.
  • Snapshot adds support for zkSync Era.

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Optimism Highlights 🔴✨

Optimism Law Of Chains V0
Optimism introduced the Law of Chains v0, a framework for defining the creation of a unified collective of chains with shared standards and governance. The framework aims to bring together individual OP chains into a single network known as The Superchain. It provides a guide for prioritizing open, neutral, and homogeneous blockspace. The Law of Chains serves as a social contract where OP Stack chains can opt-in to be part of the Superchain. Members will partake in collaborative infrastructure and shared upgrades. The Law of Chains v0.1 is open for community feedback and will be formally introduced in Season 5 of Optimism Governance.

Public Goods Network Mainnet Launch
Public Goods Network, a L2 chain dedicated to supporting public goods, is now live on mainnet. The launch includes an RPC endpoint using chain ID 424, a block explorer, and a native bridge. Initial dapps on the network include Jokerace and Zora as well as infrastructure providers Beamer Bridge, Safe and The Graph. Gitcoin Grants Round 18, the first non-beta round on the Grants Stack, will also feature support for Public Goods Network. The rollup uses funds generated from sequencer fees to support dapps and fund public goods. Public Goods Network is built on the OP Stack and was deployed using Conduit, a rollup as a service provider.

Connext Network Integrates xERC-20

Cross-chain bridge protocol Connext Network is working to implement the xERC-20 bridge token standard featuring Alchemix Finance as the first integrator. The integration will support canonical bridging for Alchemix’s alUSD, alETH, and ALCX tokens across Arbitrum and Optimism. Alchemix is a defi protocol for self-repaying loans. Connext is onboarding projects to deploy xERC-20 tokens on its protocol and is promising forward compatibility with the standard once the ERC is final. Earlier this month, Connext introduced ERC-7281, a standard to enable token bridging across domains without the need for multiple representations of the same asset. Currently, token issuers must choose between risking security with a single bridge or bearing the high liquidity costs of supporting multiple bridges. ERC-7281 is an extension of ERC-20 that allows token issuers to manage bridges, set minting limits, and allow approved bridges to mint the same representation of their tokens.

Snapshot Now Supports zkSync Era

Offchain governance voting platform, Snapshot now supports zkSync Era, enabling gasless proposal voting for DAOs in the ecosystem. Snapshot offers various voting systems, including single choice, approval voting, and quadratic voting, and is fully open-source. zkSync Era, an EVM-compatible ZK-Rollup, has processed over 25 million transactions in the last 30 days.