DeFi project 1inch Network has launched a platform in the core Optimistic Ethereum (OΞ) network, involving fast and cheap transactions.
"Optimistic Ethereum is a very promising solution with a focus on scalability. The launch of 1inch based on OΞ will contribute to a dramatic increase in transaction speeds"
In the first phase, the platform's throughput will be limited to 0.6 transactions per second. However, during testing and as the infrastructure is optimised, this figure will increase.
1inch users can use the Optimism Gateway tool to migrate assets to the Layer 2 (L2) network. OΞ interfaces with most popular wallets and other services, including MetaMask, WalletConnect, Etherscan and The Graph.
Deposits to Optimistic's main network are credited instantly. However, withdrawals from OΞ to Ethereum take seven days, due to the peculiarities of the solution's L2 architecture.
As a reminder, a similar solution from Optimism project was introduced in July by leading Ethereum exchange Uniswap.