Sushi's Rolling Up To Optimism!
Sushi is now live on Optimism! Let's dive into what this means and how you get on Optimism:
- Introduction on Optimism and Optimistic Rollups
- Sushi deployments to look forward to
- How to deposit & add the Optimism Network to your wallet
As crypto enters its next wave of adoption, the calls for scalability are deafening. This demand is often answered by centralized layer-1 competitors, who abandon Ethereum’s security and values under the guise of cheap fees and a quick buck.
In the Optimism team's own words: We must not recreate Web2 incentives in our quest for Web3 scalability. Web3 offers the opportunity to rebuild the internet to align with the values of its users. Sacrificing this mission is sacrificing the purpose of crypto.
Scaling the technology alone is not enough. We have a duty to scale our values along with our networks.
About Optimistic Rollup
Optimistic Rollup is a layer 2 scaling solution that scales both transaction throughput and computation on Ethereum. The backbone of their implementation is an EVM-equivalent stack which gives us an effortless deployment process with no code change.
Optimistic Rollup is the first layer 2 scaling solution that enables:
- Usability: low latency transactions for the speed of a Web 2.0 experience, and smart contracts at a fraction of the cost.
- Familiar workflows: developers preserve the Ethereum developer experience — the same smart contracts, APIs, and dev tooling. Migrate existing contracts without breaking them.
- Money Legos: seamless interoperability between dApps and smart contracts.
Here are some of the deployments that emerge as a result of this partnership. Optimism will be the first network where we launch Trident directly!
If you're not familiar yet with Trident please read our 🔱 blogpost.
We’ll start off with the deployment of the Constant Product Pool (y=x*k) AMM. Followed by the next pools in line: Stableswap and Concentrated Product AMMs. With these pools optimism will have the most optimized Constant Product design in all of DeFi!
First step: we'll start with deployment of Trident's first pool (the constant product pool) and BentoBox (strategy vault).
Second step: as soon as the our next suite of products is optimized and updated for Trident we'll launch these too #soon: Limit Orders, Kashi (Borrowing & Lending) and MISO (launchpad) etc.
Depositing assets to Optimism
To do almost anything with Optimism you need Ether (ETH) on their chain. There are two ways to get ETH, as well as ERC-20 tokens, into Optimism:
- If you already have assets (e.g. ETH) you can deposit them using a bridge.
- If not, you can buy assets and have them deposited directly to Optimism by using one of the fiat onramps that support Optimism.
To deposit using Optimism's gateway:
- Browse to the gateway and agree to the terms.
- Click Connect wallet, select your wallet type, and approve the connection in the wallet itself if asked.
- Make sure the form is correct:
Deposit is selected
The network to deposit from is correct (Ethereum Mainnet to transfer from L1)
The asset is correct (you probably want to start with ETH, because until you have that you can’t issue any transactions).
Enter an amount that is possible.
- Click Deposit.
- Click Deposit again to confirm.
- Confirm the transaction in the wallet, wait until the transaction is confirmed and the ETH deposited to Optimism.
- Browse here and click connect to add the Optimism network to your wallet. You will need to approve this addition in your wallet. The network notification in MetaMask is shown below, other wallets are likely to be similar.
You should now be able to see the deposited asset.
Please refer to the Optimism Help Center for any other questions.
If you have any other questions please hop into the Sushi Discord so one of our Samurais can assist you: click to join Discord.
Sushi is building a comprehensive DeFi ecosystem with AMM, leverage & margin trading platform, token launchpad and NFT artist platform. Follow our socials to keep up with our product launches and find out more on how you can make the most of your cryptocurrency assets with Sushi’s secure and powerful DeFi tools!