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SOCKET ProtocolSocket - First Chain Abstraction Protocol
IntroductionOver the last few years, the Ethereum ecosystem has made tremendous strides in advancing the modular roadmap, a strategic plan aimed at enhancing scalability and efficiency through specialization and layering within the blockchain network. This has led to the development of an increasing number of chains, each specialized for distinct use cases. The cost of spinning up a new rollup has decreased significantly, blobs and data availability have made settling transactions even cheape...
SOCKET ProtocolStrategic Investment from Coinbase Ventures and Framework Ventures!
TL;DR: Coinbase Ventures is joining Socket as a strategic investor. With this investment, we’re expanding our collaboration with Coinbase to bring cross-chain primitives across their products like Base & Coinbase Wallet. Framework Ventures is co-leading the funding round. Framework led Socket’s Seed Round earlier in 2022 and is now doubling down on the earlier investment. We’re glad to announce a $5mn strategic investment from Coinbase Ventures & Framework Ventures. The investment is extremel...
SOCKET ProtocolSOCKET Surge: Age of Chain Abstraction
TL;DR: SOCKET Surge is a month-long initiative to battle-test the throughput and reliability of the upcoming SOCKET chain abstraction protocol. Chain On Top, the first chain-abstracted social strategy game, running on 20+ chains simultaneously via SOCKET, is set to launch in the coming days.Today, applications need to decide what blockchain to build their application on, how to choose them, how to bring users from all blockchains to their application all while building the core application it...
SOCKET ProtocolSocket - First Chain Abstraction Protocol
IntroductionOver the last few years, the Ethereum ecosystem has made tremendous strides in advancing the modular roadmap, a strategic plan aimed at enhancing scalability and efficiency through specialization and layering within the blockchain network. This has led to the development of an increasing number of chains, each specialized for distinct use cases. The cost of spinning up a new rollup has decreased significantly, blobs and data availability have made settling transactions even cheape...
SOCKET ProtocolStrategic Investment from Coinbase Ventures and Framework Ventures!
TL;DR: Coinbase Ventures is joining Socket as a strategic investor. With this investment, we’re expanding our collaboration with Coinbase to bring cross-chain primitives across their products like Base & Coinbase Wallet. Framework Ventures is co-leading the funding round. Framework led Socket’s Seed Round earlier in 2022 and is now doubling down on the earlier investment. We’re glad to announce a $5mn strategic investment from Coinbase Ventures & Framework Ventures. The investment is extremel...
SOCKET ProtocolSOCKET Surge: Age of Chain Abstraction
TL;DR: SOCKET Surge is a month-long initiative to battle-test the throughput and reliability of the upcoming SOCKET chain abstraction protocol. Chain On Top, the first chain-abstracted social strategy game, running on 20+ chains simultaneously via SOCKET, is set to launch in the coming days.Today, applications need to decide what blockchain to build their application on, how to choose them, how to bring users from all blockchains to their application all while building the core application it...
>300 subscribers
>300 subscribers
TL;DR: Today, Aevo introduces native bridging powered by Socket to enable zero-cost transfers from Arbitrum & Optimism. Aevo is the first OP-Stack rollup to open gates for users beyond Ethereum by allowing them to bridge USDC from Arbitrum & Optimism.
For the first time, app rollups with Socket have the ability to extend beyond Ethereum and access limitless liquidity available across chains.
App-rollups by nature, are only connected with Ethereum. There is no native way to onboard users & liquidity of other chains like Arbitrum/Optimism etc. This is actually the opposite of what’s needed for the rollup-centric roadmap.
Most users today are already on L2s & majorly move between them without ever touching the expensive Ethereum. With the majority of trading volumes on L2s today, app rollups that are isolated and inaccessible to L2 users are at a massive disadvantage.
A naive alternative for app rollups to expand their connectivity is partnering with 3rd party bridges or liquidity networks. These liquidity pools help facilitate the flow of liquidity for users but come with tons of issues...
High bridging fee: Liquidity means cost to users
Liquidity bootstrapping: Classic problem of emissions & incentives
Unscalable: Millions L2s & liquidity pools just limit liquidity on each L2
Incentivizing bridge team/DAOs: Getting deployments prioritized for your app is hard
Without access to liquidity from other chains, app rollups struggle to onboard users and their adoption is massively stifled.
Today, we’re introducing a new way for app rollups to enable seamless liquidity transfers from any L2 with no liquidity bootstrapping. For the first time ever, app rollups can allow users to onboard from any chain with 0 bridging fees by leveraging Socket!
We’re excited to unveil the first of these unique onboarding experiences with Aevo, DeFi’s largest options exchange built as an appchain on OP-stack.
By connecting to Socket, Aevo taps into the majority of L2 liquidity flows by enabling deposits and withdrawals open from Arbitrum & Optimism. This allows Aevo Chain to retain all the benefits of security & scalability of a rollup while ensuring a seamless bridging experience and no wrapped bridge assets!
You can now enjoy a CEX-like experience while interacting with Aevo with 0 bridging fee or slippage for any transfer!
Go to app.aevo.xyz
Select the chain you want to deposit from
Your funds are deposited into Aevo Exchange in minutes
Start trading
Despite its benefits, app rollups so far have always come with a trade-off of connectivity & composability with other chains making them almost an unattractive option for most apps.
We’ve now flipped this such that app rollups can launch with native connectivity to any chain, unlocking benefits similar to IBC for Cosmos-based chains.
We’re working towards the next wave of adoption where apps can directly launch their own L2/chains unlocking massive benefits for protocol users & token holders.
If you’re building an L2 for your app or thinking about it, hit us up on Discord!
TL;DR: Today, Aevo introduces native bridging powered by Socket to enable zero-cost transfers from Arbitrum & Optimism. Aevo is the first OP-Stack rollup to open gates for users beyond Ethereum by allowing them to bridge USDC from Arbitrum & Optimism.
For the first time, app rollups with Socket have the ability to extend beyond Ethereum and access limitless liquidity available across chains.
App-rollups by nature, are only connected with Ethereum. There is no native way to onboard users & liquidity of other chains like Arbitrum/Optimism etc. This is actually the opposite of what’s needed for the rollup-centric roadmap.
Most users today are already on L2s & majorly move between them without ever touching the expensive Ethereum. With the majority of trading volumes on L2s today, app rollups that are isolated and inaccessible to L2 users are at a massive disadvantage.
A naive alternative for app rollups to expand their connectivity is partnering with 3rd party bridges or liquidity networks. These liquidity pools help facilitate the flow of liquidity for users but come with tons of issues...
High bridging fee: Liquidity means cost to users
Liquidity bootstrapping: Classic problem of emissions & incentives
Unscalable: Millions L2s & liquidity pools just limit liquidity on each L2
Incentivizing bridge team/DAOs: Getting deployments prioritized for your app is hard
Without access to liquidity from other chains, app rollups struggle to onboard users and their adoption is massively stifled.
Today, we’re introducing a new way for app rollups to enable seamless liquidity transfers from any L2 with no liquidity bootstrapping. For the first time ever, app rollups can allow users to onboard from any chain with 0 bridging fees by leveraging Socket!
We’re excited to unveil the first of these unique onboarding experiences with Aevo, DeFi’s largest options exchange built as an appchain on OP-stack.
By connecting to Socket, Aevo taps into the majority of L2 liquidity flows by enabling deposits and withdrawals open from Arbitrum & Optimism. This allows Aevo Chain to retain all the benefits of security & scalability of a rollup while ensuring a seamless bridging experience and no wrapped bridge assets!
You can now enjoy a CEX-like experience while interacting with Aevo with 0 bridging fee or slippage for any transfer!
Go to app.aevo.xyz
Select the chain you want to deposit from
Your funds are deposited into Aevo Exchange in minutes
Start trading
Despite its benefits, app rollups so far have always come with a trade-off of connectivity & composability with other chains making them almost an unattractive option for most apps.
We’ve now flipped this such that app rollups can launch with native connectivity to any chain, unlocking benefits similar to IBC for Cosmos-based chains.
We’re working towards the next wave of adoption where apps can directly launch their own L2/chains unlocking massive benefits for protocol users & token holders.
If you’re building an L2 for your app or thinking about it, hit us up on Discord!
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