Demex Daily #173: Optimism Advances Decentralization with Launch of Permissionless Withdrawals on OP Mainnet

What’s Interesting Today:

Optimism has reached a significant decentralization milestone with its implementation of permissionless fault proofs on the OP Mainnet. This upgrade allows users to execute ETH and ERC-20 withdrawals directly to Ethereum Layer 1 without needing centralized intervention. Users can now challenge invalid withdrawals by providing collateral, promoting transparency and security. The initiative received strong community support and is part of Optimism's goal to achieve further decentralization stages. This feature will also be rolled out to other networks using the OP Stack infrastructure. Currently, OP Mainnet ranks as the third largest Layer 2 network with a total value locked of $7.31 billion.

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Iggy Azalea is re-launching a telecommunications company where users can purchase phones and monthly plans using her cryptocurrency token, MOTHER, along with Sol. The announcement follows her recent entry into the crypto market amid a wave of celebrity-launched meme coins. Sphere Labs in Boston will manage the payment systems. Despite recent market turbulence involving celebrity tokens and allegations of insider activity related to MOTHER, the token has risen by 25%. Pricing details for the telecom services are still pending.