DeBank Announces L2 Built On OP Stack

Quick Take

• DeBank announces an L2 built on the OP Stack.
• EigenLayer plans to increase its LST cap.
• Aave to add wGHO as a collateral-only asset.
• Smoldapp introduces MultiSafe.

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Optimism Highlights 🔴✨

DeBank Announces L2 Built On OP Stack
DeFi portfolio dashboard DeBank revealed plans to launch its own L2 network built on the OP Stack. Coined as DeBank Chain, the rollup will provide users with low-cost transactions and native Account-Abstraction-like features, including a new account system integrated at the chain level that will provide users with a Web2-like experience. The new system supports transaction signing with a dedicated L2 private key. DeBank Chain is now live on testnet and is natively integrated into Rabby wallet. Users can use a built-in faucet on Rabby to claim testnet funds and use the network. DeBank plans to deploy the rollup to mainnet in 2024.Disclosure: We are covering more Optimism news (than usual) to qualify for RetroPGF.

EigenLayer Increases LST Cap

Restaking solution EigenLayer announced that it will lift its cap for Liquid Staking Tokens until any one of the tokens hits 100k tokens restaked. The lift will go live on Tuesday, August 22nd. EigenLayer currently supports restaking for stETH, rETH, and cbETH. There is currently no limit for restaking native Beacon Chain ETH through EigenPods. EigenLayer is still the first of three launch phases. The second phase introduces support for node operators, which can receive delegation from restakers and operate validated services. The third phase introduces Actively Validated Services (AVSs) that can receive distributed validation from participating operators. EigenLayer holds over $80 million in TVL.

Proposal To Add wGHO As Collateral-Only Asset

Aave contributor Marc Zeller published a proposal to add wGHO as a collateral-only asset within a new stablecoin emode in the Aave V3 Ethereum pool. The integration would allow wGHO to be used as collateral for borrowing USDC, USDT, DAI, and LUSD. The proposal aims to enable an arbitrage incentive when GHO is below its peg. The Gho Stability Module (GSM) will focus on incentives for when the stablecoin goes over-peg. The proposal also specifies a 77% LTV, 80% liquidation threshold, and 4.5% liquidation penalty as parameters. The proposal is currently under community discussion before a vote goes live on Snapshot.

Smoldapp Introduces MultiSafe

Smoldapp introduced MultiSafe, a dedicated dapp for deploying a Safe smart contract wallet with the same address across multiple chains. The dapp also supports cloning for Safe wallets that are already deployed. The dapp supports deployments for Ethereum, Polygon, Optimism, Arbitrium One, and Gnosis Chain. Smoldapp is a registry of small dedicated dapps, including dapps for token distribution, disposal, and migration.