The new protocol not only offers improved speed and cost savings, but also aims to eliminate the divide between EVM and non-EVM networks. This solution tackles various issues such as fragmented liquidity markets, pricey cross-chain transactions, and security concerns with inter-chain bridges.
DODOChain L3 kicks off, public testnet solution is out
According to the announcement from the DODO team, their new network called DODOChain, which is a layer-3 solution on Arbitrum Orbit, has been launched in the public testnet. The platform makes use of EigenLayer’s EigenDA infrastructure and Altlayer’s restaking rollup tools for added functionality.
Developers have launched a new blockchain, which they describe as a groundbreaking layer-3 network that smoothly connects the layer-2 systems of Bitcoin and Ethereum or the rollup-level liquidity layers of multiple chains. (In simpler terms, this new blockchain acts as a bridge between the existing layer-2 networks of Bitcoin and Ethereum or the higher-level liquidity pools of various chains.)
In addition to being a modern, decentralized network with a modular design, this new solution will join an all-in-one platform offering various products and services. Some of these offerings are Omni Trade for trading, Omni Liquidity for managing assets, and Omni Mining for earning rewards.
DODOchain can easily link Bitcoin and Ethereum Layer 2 solutions, in addition to other non-EVM (Ethereum Virtual Machine) chains. This connection will attract new users and assets to the platform.
Starting from the outset of its functioning, DODOchain will provide native staking options for multiple assets that are eligible for its liquidity pool.
Pushing barriers of omni-chain segment with modular partnerships
To achieve the lofty objectives outlined in its plan, DODO secured several significant technological collaborations with key partners like Arbitrum. The advanced technology of Arbitrum Orbit, provided to DODOchain, boosted its capabilities with improved scalability, efficiency, and user-friendliness.
Partnering with EigenLayer, DODOchain will become a restaked rollup and serve as one of the initial Active Validator Services (AVS) within the EigenLayer community.
Additionally, DODOchain utilizes AltLayer’s innovative rolled-up staking system, enabling more efficient staking solutions for all liquidity contributors.
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2024-04-23 13:27