Demex Daily #155: Cyber Launches First Social-Focused Ethereum Layer 2 Network

What’s Interesting Today:

Cyber, previously known as CyberConnect, has launched a layer-2 network on the Ethereum blockchain, branding it as the "first L2 for social." This new chain uses Optimism's OP Stack, EigenDA, and other custom features to ensure low transaction fees, high transaction per second (TPS), and an improved user experience. AltLayer is responsible for the rollup's technical launch, management, operations, and future upgrades. Notably, Cyber's implementation of Plasma Mode on the OP Stack chain utilizes alternative data availability layers to Ethereum Mainnet, which helps in reducing transaction costs while maintaining security and decentralization.

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pSTAKE Finance is partnering with Babylon to introduce a new Bitcoin liquid staking solution, designed to allow Bitcoin holders to generate yields without sacrificing liquidity. This move marks an expansion of pSTAKE's offerings from the Cosmos network to Bitcoin and aims to enhance Bitcoin's utility within the DeFi ecosystem. Leveraging Babylon's infrastructure, the partnership seeks to broaden access to staking rewards for Bitcoin users and integrate technological innovations such as Bitcoin Layer-2 solutions. This development is expected to open up various yield-generation opportunities for Bitcoin, with BTC deposits on the pSTAKE platform set to begin in the coming weeks.