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Layer2 Observer Weekly Newsletter #25

Arbitrum has completed a $120 million Series B, zkSync 2.0 Developer Updates, Optimism’s new gateway and more

The 25th series of Layer2 Observer Weekly newsletter, let’s roll!

Arbitrum completed a $120 million Series B financing, led by Lightspeed Venture Partners, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Alameda Research, and individual investor Mark Cuban participating in this investment round. The funds raised will be used to develop the team and continue to contribute into research and development.

On 1st September, it announced that the mainnet public beta version of Arbitrum One was officially launched. This version removed the whitelist restriction and was open to all users, but the development team of Arbitrum, Offchain Labs, reserves the right of upgrade to continuously improve its performance and respond quickly for possible safety incidents. The public beta version of Arbitrum One still uses whitelisting to restrict users to add new tokens over the cross-chain bridge, and validators are also subject to whitelist restrictions. In addition, the public beta version of Arbitrum One has also set a speed limit of 80,000 arbgas per second. The team said it plans to increase the speed limit as the system stabilizes in the future.

More info:

Optimism releases a new gateway interface allowing access to any ERC20 token

Optimism recently announced the launch of a new gateway interface that allows any ERC20 tokens to be deposited and withdrawn on Optimism. When a L1 address transfers money to Optimism, L2 tokens will be generated on the corresponding address on Optimism to complete the cross-chain transfer. At the same time, Optimism provides developers with a CLI tool to deploy new ERC20 tokens. Developers can enter the gateway in the generated address to interact with Optimism. In addition, the front end of the system uses Uniswap’s token listing model to manage trusted L1 and L2 token pairs.

zkSync explains on why the 2.0 launch was postponed

On 31st August, the layer 2 scaling network zkSync issued a document stating that the 2.0 version was postponed and explaining the reason. The team believes that its key factor is to choose LLVM as the compiler framework. The team believes that LLVM is the most advanced industrial-grade product compiler framework, because it can obtain more than 20,000 regression tests, 3,000 integration/executable tests, its low maintenance cost and the ability to write smart contracts that can be translated into LLVM IR in any language.

The article also announced the three stages of its testnet launch, namely Polaris, Spotlight Search and “Kindergarten”.

Previously, zkSync planned to launch the zkSync 2.0 public testnet in May and the mainnet in August.

More info:

Founder of Loopring: Loopring’s layer 2 cross-chain and cross-layer composite solution has been integrated with Arbitrum

Loopring founder Wang Dong proposed a two-tier counterfactual wallet in the keynote speech of the EDCON Global Ethereum Conference “Counterfactual Wallet & NFTs on Loopring”, which allows users to use Layer 2 for free in a “use first, deploy later” method.

Wang Dong also proposed a cross-chain and cross-layer solution based on Loopring’s layer 2. Currently, the team has integrated with Arbitrum and plans to cooperate with Binance Smart Chain or Optimism in the next phase to ensure cross-chain and cross-layer deployment of smart wallets.

In addition, he briefly described Loopring’s support for NFTs with low rates, saying that transaction fees will be at least 400 times cheaper than OpenSea, and indicated that Loopring will not set foot in the NFT trading market, but choose to empower partners to develop NFT transactions In the market. More progress will be launched in the fourth quarter.

More information:

Layer2 data website L2Beat upgrade service to provide risk review function

Recently, L2Beat tweeted to announce the upgrade of its products, the most important part of which is the addition of the “risk review” section, which will list the risk status of each L2 project in the ranking list. It includes system security information, data availability, when and how the system is changed, and how users should respond in the face of the operator’s censorship of users or complete shutdown.

Associated website:

Polygon hosted Hackathon

On 30th August, Polygon launched the first round of Polygon-Grants hackathon on HackerLink, DoraHacks’ open source developer incentive platform. Winners are provided with a prize pool of 100,000 US dollars, with a large amount of community funds and Polygon marketing channels support. The prize pool will be allocated based on the votes of the Polygon community and designated judges.

Argent’s upcoming L2 smart contract wallet will support selected DeFi applications.

Smart contract wallet Argent said on Twitter that the upcoming zkSync-based two-layer network wallet will support DeFi applications such as Lido, Aave, Yearn, Paraswap and Indexed Finance. When a Twitter users asked whether Argent meant that these DeFi protocols would be deployed to zkSync’s Layer 2 network, Argent said that users can access these DeFi applications through Argent’s L2 account in zkSync.


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Risk Warning: None of the content of this article constitutes any form of investment advice or suggestion. imToken does not make any guarantees or promises for the third-party services and products mentioned in this article, nor does it assume any responsibility. Digital asset investment has risks. Please carefully evaluate these investment risks and make your own decision after consulting professionals.

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