Demex Daily #324: Polkadot's Phala Network Launches Ethereum Layer-2 Rollup

What’s Interesting Today:

Phala Network, a Polkadot parachain, has launched its Op-Succinct layer-2 rollup on Ethereum to enhance scalability and efficiency. The rollup integrates optimistic and zero-knowledge (ZK) proofs, improving transaction finality, reducing costs, and bolstering security. This development aligns with Phala’s goal to advance cryptographic computing and secure smart contracts, particularly for AI-driven decentralized applications. The move reflects the rising interest in Ethereum layer-2 solutions, which, while offering benefits, also raise concerns about fragmented liquidity and market efficiency.

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Sonic Labs has integrated Circle’s bridged USDC stablecoin on its Ethereum Virtual Machine (EVM) layer-1 chain through the Sonic Gateway. This integration aims to reduce liquidity fragmentation and simplify token swapping and liquidity provision. The bridged USDC supports decentralized app development with consistent contract addresses, ensuring future compatibility with native USDC. Sonic's public network launch is imminent, following the completion of its Genesis block, and it is supported by the Fantom Foundation. Additionally, Sonic has announced an airdrop of "S" tokens, which can be exchanged for Fantom’s FTM tokens.

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