Metronome is proud to announce support for Optimism, a promising Layer 2 solution.
Since our full deployment of Metronome Synth, and the launch of Smart Farming, the rise in gas fees has significantly impacted DeFi applications on Ethereum. This quickly lead to discussions about Layer 2’s, with Optimism emerging as an excellent starting point.
By integrating Optimism, DeFi users are now able to perform hyper capital-efficient strategies through both Metronome Synth and Smart Farming with the benefits of low network fees and high transaction speeds.
Note: Metronome DAO has supplied initial liquidity and is incentivizing through Velodrome bribes. This will translate to LP incentives starting next epoch!
What is Optimism?
Ever since Optimism was launched in December 2021, it has impressed with its high speeds and low costs for users. As a Layer 2 solution for Ethereum, it’s specifically designed to address the network’s scalability challenges. By utilizing Optimistic Rollups, Optimism can significantly accelerate transaction throughput and drastically reduce gas fees, tackling some of the most critical issues with Ethereum today.
At its core, Optimism offloads a lot of the workload off-chain while still maintaining a high level of security and decentralization. This approach has positioned Optimism as a game-changer for the Ethereum ecosystem, paving the way for a more efficient and cost-effective future for DeFi.
Whether you are a DeFi pro or a newcomer, Metronome creates an easy-to-use environment that enables you to get involved with synthetic assets immediately, regardless of your experience level. By integrating with the Optimism chain, we have extended our support for the already thriving DeFi ecosystem and invite users who might have previously been deterred by high gas fees.
While Smart Farming already efficiently combines multiple transactions into a single gas-sensitive transaction, introducing it on Optimism reduces these costs even further, enhancing user experience and affordability.
In order to utilize Metronome on Optimism, you can take the following steps:
- Navigate to app.metronome.io
- In the top right, click the drop-down and select “Optimism”
- You can now choose from the collateral currently available on Optimism, or click “Smart Farming” on the sidebar to begin your looping journey