Integrating with Arbitrum
A Multi-network expansion
We are excited to push forward our initiative for scaling solutions on DeFi 🚀
Scalability is one of the most competitive fields in our space right now. Sidechains, ZK Rollups, Optimistic Rollups, ETH 2.0, each of them with its own trade-offs.
We at Pods are making strong efforts to integrate different scalability solutions in order to offer our community more possibilities.
A quick recap on Rollups
The general idea of a rollup is to instead of putting all activity on the blockchain directly, users perform the bulk of their activity off-chain in another protocol (aka L2). On the main chain, we would need a contract that is responsible for verifying the proofs. making sure that everything happening off-chain is following the rules.
The rollup solutions differ between themselves in the way that they do those proofs, but they all share the concept that verifying the proofs on-chain is much cheaper than doing the original computation.
There are two types of rollups, Optimistic and ZK Rollups. Optimistic ( Arbitrum, Optimism, Boba) uses fraud proofs. During a certain period, usually a week, a verifier can post a proof that will revert the batch and all batches that came after it inside the rollup contract on-chain. The term "Optimistic" has been used for decades in computer science for this type of system that you do an action and revert in case something goes wrong. Usually, this is a much cheaper approach instead of verifying every step.
ZK Rollups (zkSync, Aztec, Hermez, StarkNet), differ from the Optimistic, instead of posting a proof only if something went wrong, for every batch you include a cryptographic proof.
See also: https://vitalik.ca/general/2021/01/05/rollup.html
About Arbitrum
Arbitrum is a suite of Ethereum scaling solutions that enable high-throughput, low-cost smart contracts while remaining secure in a trustless way. Arbitrum has three modes: AnyTrust Channels, AnyTrust Sidechains, and Arbitrum Rollup.
Arbitrum's founders have been involved in this topic since 2015 before even the market started calling it rollup and scalability was not a bottleneck.
Next on the roadmap is Arbitrum Nitro, the next iteration of Arbitrum, which the team has been working on for months. It’s built on standard technologies like WASM and Geth, so it’s more EVM-compatible, it’s an order-of-magnitude faster than the current tech, and provides a sizable decrease in costs. When it’s ready it will be deployed as a seamless upgrade to Arbitrum One.
For now, we will be focusing on the Arbitrum Rollup that is the Optimistic Rollup solution with fraud proofs that we've mentioned earlier. Arbitrum has reached 2 Billion in TVL by the time of writing with main infrastructure providers required for Pods to be working properly such as Chainlink and TheGraph.
See also:
https://developer.offchainlabs.com/docs/rollup_basics
https://www.usenix.org/system/files/conference/usenixsecurity18/sec18-kalodner.pdf
How to use it
- You need to add the Arbitrum network to your Metamask. You can do this by using https://chainlist.org
2. Bridge your assets to Arbitrum using one of the suggested bridges from Arbitrum One Portal. You can also use the Arbitrum One bridge (https://bridge.arbitrum.io/) to move assets from Ethereum to Arbitrum and vice versa.
3. One our app if you are connected to the Arbitrum network, you will be able to see our available options there.
About Pods
Pods is a decentralized non-custodial options protocol. Users can create options and trade them through an Options AMM on the Ethereum Blockchain. Pods is the easiest way to hedge crypto in DeFi.
We invite you to take the first step in your new mission: start testing the app on app.pods.finance
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