Velodrome is the largest distributed exchange (DEX) and automatic market maker (AMM) on optimism, and today launched an in-chain infrastructure that allows native token swap across the superchain.
Optimism’s OP MainNet is a Layer 2 (L2) scaling solution built to increase Ethereum speed and reduce costs. It is currently the third largest Ethereum L2 with a total value locked, and it is a TVL with just under $3 billion. Super Chain is an optimistic multi-chain ecosystem built on an OP stack.
Velodrome’s SuperSwaps infrastructure is designed to simplify token transfers across the network that make up the super chain. The tool allows superchain interoperability without the need to run separate bridges, token wrappers or external liquidity pools, according to a press release viewed by Defiant.
The infrastructure is intended to address the general challenges of cross-chain distributed finance (DEFI). One chain, a bridge that is completely secure or not open, and a blockchain that doesn’t work well is packed with tokens. Nowadays, moving tokens to another chain is difficult and sometimes dangerous.
This new tool highlights the broader driving force for simplifying token exchange across blockchain networks, especially as defi platforms compete to reduce the technical challenges, costs and risks of cross-chain trading.
According to the release, traditional or “standard” blockchain bridges are considered the safest option, but they are often slower, and many protocols are looking for faster alternatives.
“Superswaps brings a truly unified fluidity experience to the Super Chain for the first time. Users can exchange tokens throughout the chain without any friction,” Velodrome’s core contributor Alexander Cutler told Defiant. “The protocol can fire fluidity in one chain and scale across ecosystems,” Cutler added.
According to the release, SuperSwaps is built to work with a variety of bridge systems and can adapt as new cross-chain technologies are developed. The Velodrome team says this will make it easier to keep your system up to date.
“LPS can take advantage of cross-chain trading volume. Builders can easily integrate the best swap execution into their products,” Cutler said. “The future of a super chain is something that everything works together.”
Velodrome serves as a core infrastructure within an optimistic ecosystem, supporting the broader goal of optimism: scalable and efficient on-chain activity. The Velodrome protocol was first launched on June 2, 2022. A year later, we introduced the Velodrome V2, a complete redesign aimed at improving the user experience.
