Balancer is the fifth-largest decentralized exchange on the Ethereum blockchain in terms of TVL. Today it announced that it successfully launched on Optimism, Ethereum L2 scaling solution, which has just dropped its OP token. Before Optimism, Balancer was already present on Ethereum, Fantom, Arbitrum, and Polygon.
“With this launch, Balancer recognizes Optimism as a leading L2 solution. Its distinctive scalability, while inheriting Ethereum’s security, will enhance the user experience and propel DeFi growth. L2s show the promise of reducing transaction fees and network congestion, and we are excited to bring our technology to the Optimism ecosystem,” Balancer Labs CEO Fernando Martinelli wrote in the official announcement.
The launch was assisted by Beethoven X, the decentralized investment platform. In October 2021, Beethoven X launched the first Balancer-friendly fork on Fantom and since then has been working on building up the exchange’s capabilities. Beethoven devs will be responsible for contract deployment, front end, infrastructure, and ongoing maintenance of Balancer on Optimism.
“By collaborating with Beethoven X, our communities can work together to shape the future of liquidity for DeFi. The innovation that Optimism brings to the table in terms of scalability, speed, and capital efficiency will foster the perfect environment needed for our Protocol to flourish,” Balancer announced.