How layer 2 solutions work

Layer-2 solutions vary in function and purpose, but the basic premise is the same — a faster copy of the Ethereum network where users can upload their funds, do their business fast and for less than a penny, and then withdraw. So if Layer-2 is so fast and cheap, why isn’t everyone already using it? Well, the fact is that you still need to deposit or exchange ETH or ERC-20 tokens just to get on the systems, and that still costs high fees. Plus, the exchanges don’t have the liquidity or variety that regular Ethereum-based exchanges have. A number of Layer-2 solutions have arisen recently, especially those connected to Uniswap-style Automatic Market Makers (AMMs). So can Layer-2 may save Ethereum for the short term.


Arbitrum – solution for Ethereum mainnet blockchain to keep gas fees down.

Arbitrum One is a highly anticipated Layer 2 (L2) solution designed to give Ethereum users access to low-cost transactions. The project is attracting many developers keen to cut down on gas fees as well as deploy decentralised applications (dApps) in a secure ecosystem.

Offchain Labs unveils Ethereum scaling solution and $120M funding (
Introducing Arbitrum One: our mainnet beta | by Offchain Labs | Medium
Optimistic Ethereum – How To Use Uniswap V3 Tutorial | CoinMarketBag

An optimistic airdrop

How about an optimistic token?”
Investors must keep an eye on Optimism PBC, a scaling solution platform for the Ethereum blockchain. Chico cited Dragonfly Capital’s Ashwin Ramachandran who  stated that Optimism’s expansion plan may involve “the addition of a network token.”
In its  end-of-year review, Optimism further hinted at the possibility of a network token this year. The post claimed, “Look out for our post in January about what’s on our plate for 2021, our path to decentralization, new members of our team and more!”
Chico  told his 173,000 subscribers:
The key there is ‘the path to decentralization.’ That path is only done through a token, a governance one. […] Sometimes this month, I predict we will get an announcement of their token. So play with their testnet, figure out how.
The trader also touted OpenSea as a project likely to conduct an airdrop this year. OpenSea is a peer-to-peer marketplace for rare digital collectibles. Chico hailed OpenSea as the largest non-fungible token (NFT) marketplace globally, with trading volume growing month after month.
There are many ways to interact with this marketplace. Buying and selling of NFTs is the most common, but they also have the option to create your own NFTs in the DApp.
The other projects likely to conduct airdrops this year are Opyn and Argent wallet.

Uniswap | Uniswap on Optimism (Alpha launch)!
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Loopring (LRC) has been around for over 2 years now, and now with Loopring Protocol Version 3 out, its token has boomed. Loopring essentially has users upload ETH to the exchange. Then, they can swap or trade their ERC-20 crypto assets on the Layer-2 for a fraction of the price as on Uniswap, and nearly instantly..

dHedge uses the Synthetix Layer-2 protocol to make synthetic assets which track the pools of different traders in a decentralized manner. Users
deposit sUSD — via synthetix — and pools trade at their will.

Using Synthetix to tokenize pools is clever, and if Synthetix can pull off a decent transition to a new Layer-2 solution, the protocol could see even more value locked than the current $1.82 billion.

My ETH swap on Optimism
Ethereum Transaction Hash (Txhash) Details | Etherscan

Transaction Hash:0xbbe3060b3ecb76a8dafff432619f73c34a218d59ef1c70b8f9fb6a01c7686f81
Block:13203955 1 Block Confirmation
Timestamp:9 secs ago (Sep-11-2021 10:37:50 AM +UTC)| Confirmed within 30 secs
To: Contract 0x99c9fc46f92e8a1c0dec1b1747d010903e884be1 (Optimism: Gateway)
Value: 0.334454238320621101 Ether ($1,103.83)
Transaction Fee: 0.01141781466000762 Ether ($37.68)
Gas Price:0.00000005442574926 Ether (54.42574926 Gwei)
Txn Type:2 (EIP-1559)



Exchange Section Arbitrum One Portal : A gateway plaform for dApps, wallets, tools, etc
Explorer Optimistic Ethereum L2 Explorer (