{"id":33092,"date":"2022-08-10T16:21:32","date_gmt":"2022-08-10T20:21:32","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=33092"},"modified":"2022-08-10T16:21:37","modified_gmt":"2022-08-10T20:21:37","slug":"optimism-tvl-surpasses-1-billion-ahead-of-the-merge-upgrade","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/optimism-tvl-surpasses-1-billion-ahead-of-the-merge-upgrade\/","title":{"rendered":"Optimism TVL surpasses $1 billion ahead of The Merge upgrade"},"content":{"rendered":"\n
Ethereum layer-2- scaling solution Optimism has surpassed $1 billion in total value locked (TVL) which is nearly 300% M\/M as The Merge<\/a> upgrade approaches.<\/h5>\n\n\n\n
\"Optimism
Optimism TVL surpasses $1 billion ahead of The Merge upgrade<\/figcaption><\/figure>\n\n\n\n

Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284 percent in the last month, according to data from DefiLlama. Users lending and borrowing assets on Aave through Optimism's layer-2 chain make up the vast majority of TVL.<\/p>\n\n\n\n

In anticipation of The Merge update, which will see the blockchain switch from a proof-of-work network to one based on proof-of-stake, investors have been bidding up digital assets tied to the Ethereum ecosystem<\/a>.<\/p>\n\n\n\n

The Merge's anticipated launch date has been set for September 19, according to a recent Ethereum developer call. With Rollups, or off-chain computations, Optimism, an Ethereum layer-2 blockchain, aims to extend the ecosystem and expedite transactions. On Optimism, transactions are entered, and on Ethereum, they are completed.<\/p>\n\n\n\n

The project is home to 35 protocols, including automated market maker Velodrome, decentralized exchange Uniswap, and derivatives exchange Synthetix.<\/p>\n\n\n\n

The Ethereum blockchain's current capacity of 30 transactions per second is inadequate to manage the enormous amount of user trade orders on exchanges \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>(including cancellations).<\/p>\n\n\n\n

Nevertheless, according to some analysts, the network might scale to 100,000 transactions per second with The Merge upgrade, with layer-2 solutions improving this capacity even further.<\/p>\n\n\n\n

User transactions are bundled and sent to Ethereum layer-1 while optimism blocks are built and performed on layer-2. A quick user experience is made possible by layer-2, where transactions are instantly accepted or refused without the usage of a mempool.<\/p>\n\n\n\n

The project's namesake tokens have increased by 300 percent during the same time period in tandem with the TVL <\/a>development.<\/p>\n\n\n\n

\n

Dai on Optimism \ud83d\udc40

From 30 million to 140 million in 5 days. pic.twitter.com\/AQlNWvX6c9<\/use><\/svg><\/span><\/a><\/p>— Sky (@SkyEcosystem) August 9, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

Ethereum layer-2- scaling solution Optimism has surpassed $1 billion in total value locked (TVL) which is nearly 300% M\/M as The Merge upgrade approaches. Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284 percent in the last month, according to data from DefiLlama. Users lending and borrowing […]<\/p>\n","protected":false},"author":12,"featured_media":33119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,23],"tags":[128,4490,9728,11073],"class_list":["post-33092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum-news","tag-ethereum","tag-optimism","tag-the-merge-2","tag-tvl-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-43.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/33092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=33092"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/33092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/33119"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=33092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=33092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=33092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}