Decentralized exchange platform Balancer has launched on the Ethereum layer-2 scaling solution, Optimism.
The launch is Balancer’s third Ethereum Virtual Machine integration after expansion to the layer 2 Arbitrium and Ethereum sidechain, Polygon.
Balancer’s front-end deployment will be led by Beethoven X, the platform’s first fork on the Fantom blockchain. Beethoven X is a DeFi player in the Optimism network.
Optimism uses Optimistic Rollups to enable the Ethereum blockchain to attain higher scalability. The scaling solution bundles transactions on the Ethereum mainnet to complete the function.
The layer-2 network unveiled its OP governance token on Wednesday through an airdrop. The selected users received free tokens, and the frenzy around it increased the network’s total value locked.
Balancer is a DeFi protocol that provides multiple products, including decentralized exchange supporting token liquidity pools. The pools are managed by custom automated market maker formulas and automated portfolio managers.