Hassan Maishera
On Wednesday, the Optimism team announced via X that Zipangcoin is live on OP Mainnet. Zipangcoin is a commodity-backed cryptoasset issued by MDC, a subsidiary of Mitsui & Co. — gold, silver, platinum. First cryptoasset from a Japanese company on the network.
Zipangcoin is issued by Mitsui & Co. Digital Commodities, a wholly owned subsidiary of Mitsui & Co. (Fortune Global 500, $94B market cap, Berkshire Hathaway as largest shareholder). Physical precious metals in a regulated digital instrument. Yield-bearing. Issued under Japan's regulatory framework since 2022.
ZPG is a yield-bearing instrument backed by physical assets, issued by MDC, and distributed through regulated exchanges including GMO Coin. Gold, silver, platinum.
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 $0.1213, down 1.8% in the last 24 hours.
