Hassan Maishera
On Wednesday, the Optimism team announced via a blog post that Ether.fi, the largest non-custodial crypto card by spend volume, is now live on OP Mainnet with $220M in TVL, 70,000 active cards, and 300,000 accounts.
The full migration took three days. Cards kept working the entire time. No downtime, no user complaints. The Optimism Foundation ran the move alongside the Ether.fi team, covering bridge engineering, Oracle support, asset metadata, and the operational work behind a live consumer product.
Ether.fi chose Optimism because it offers:
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Median fees: $0.00001
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Finality: sub-250ms via Flashblocks
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Throughput: 20Mgas/sec, scaling toward 100Mgas/sec
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Uptime: 99.99%
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Data feeds: powered by Pyth Network
Optimism’s main utility is to batch transactions on the Optimism network. Optimism allows users to enjoy lower gas fees on their transactions executed on the Optimism network through optimistic roll-up technology.
Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum.
Optimism is one of the biggest scaling solutions for Ethereum with over $500 million in TVL. It is home to 97 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token.
OP is trading at $0.1223, up 7.9% in the last 24 hours.
