On-Chain Data Platform DeBank Launches Layer-2 on Ethereum
DeBank, a popular on-chain data analytics platform, has announced the launch of its own layer-2 solution on Ethereum, named DeBank Chain, utilizing the OP Stack technology from Optimism.
Key Features:
- Layer-2 Solution: DeBank Chain is designed to serve as an asset layer for the emerging Web3 social network trend.
- Testnet Launch: The testnet is now open for developers, projects, and Web3 users to experience, with plans to launch the mainnet in 2024.
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— DeBank (@DeBankDeFi) August 11, 2023
We're excited to announce DeBank Chain, aiming to become the Asset Layer for Social!
We're launching the Testnet today and it's planned to roll out the Mainnet in 2024. pic.twitter.com/Do1hwJtPGj
Technology:
- OP Stack: DeBank Chain is built using OP Stack technology from Optimism, similar to Coinbase's recently launched Base layer-2.
- Focus Areas:
- Gas Fee Reduction: Aiming to minimize gas fees, making them 100-400 times lower than those on Ethereum.
- Account Abstraction: Supporting account abstraction from the beginning while maintaining EVM standards.
- Security: Ensuring secure asset transfers from Ethereum by supporting transactions signed with private keys on layer-2, reducing the need for private keys on layer-1.
Testnet Participation:
- Rabby Wallet: Users can install the Rabby wallet and receive gas tokens from the faucet to participate in the DeBank Chain testnet.
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— DeBank (@DeBankDeFi) August 11, 2023
How to try out the Testnet?
Rabby Wallet has integrated the DeBank Testnet and features a built-in Gas faucet. So, every Rabby user can easily access test Gas.https://t.co/DwhxweVBWX
Token and Airdrop:
- No Token Announcement: DeBank's announcement did not mention plans to issue a separate token for the layer-2, nor criteria for potential airdrops.
Context and Industry Trends:
- Other Layer-2 Solutions: In June, NFT platform Zora also chose OP Stack from Optimism for its layer-2 solution. The year 2023 has seen a rise in various layer-2 solutions for Ethereum, including zkEVM projects like Polygon zkEVM, zkSync Era, Linea, Scroll, and Taiko. Additionally, CEX platforms have introduced their own layer-2s such as opBNB, Mantle, and OKBChain, along with DeFi project-specific layer-2s like Starknet, Maker, and Frax Finance. Even layer-1 projects like Celo have transitioned to become layer-2s on Ethereum.
DeBank's launch of its own layer-2 solution marks a significant step in the evolution of the Ethereum ecosystem, aiming to enhance scalability, reduce costs, and support the growing demands of Web3 applications. The testnet launch provides an opportunity for the community to explore and contribute to this new development.
