MetaMask Supports Swaps On Optimism

Quick Take

• Flashbots runs tests on trusted execution environments.
• $LUSD is now live on Arbitrum.
• Uniswap integrates a fiat on-ramp.
• MetaMask supports swaps on Optimism.

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Optimism Highlights 🔴✨

MetaMask Supports Swaps On Optimism
MetaMask added support for swaps on Optimism. Users can now swap assets on the Optimistic Rollup directly from their MetaMask browser extension or mobile wallet. The wallet also supports token swaps on Ethereum and Polygon. MetaMask Swap taps into liquidity from DEX aggregators, market makers, and individual DEXs to facilitate trades.

Optimism Releases 2022 Recap
Optimism released its 2022 recap, covering the L2 network’s top moments. Users can currently mint a commemorative NFT on Optimism’s Mirror page until December 31st. Over the past year, transaction volume on Optimism has increased by 10x. Optimism’s TVL also doubled from just under half a billion to over $1.1 billion. A total of 54 new active dApps deployed on the network, including Velodrome, Aave, and OpenSea. Perpetual Protocol, Uniswap, Chainlink, and Velodrome marked the top protocols by transaction volume and fees generated. Optimism is currently working on deploying Bedrock, an upgrade that will lower L1 data costs.

Flashbots Runs Geth Inside SGX

Flashbots released its findings on running Geth inside Intel SGX, a trusted execution environment for protecting data from modification by using enclaves. It aims to facilitate trustless collaboration along the transaction supply chain, which can enable use cases for decentralized block building and the sharing of private order flows. Flashbots concluded that while it is possible to run Geth within SGX, the process is resource intense and time-consuming. The implementation requires lots of memory, a 3-hour startup time, and is susceptible to performance issues and information leakage. Flashbots plans to work on reproducible builds in the future.

$LUSD Now Live On Arbitrum

Bridging support for Liquity’s $LUSD stablecoin is now live on the Arbitrum One bridge. Withdraws on the native bridge take 7 days to complete due to fraud proofs. Liquidity transport protocol Stargate Finance, which offers fast bridging, also added support for bridging $LUSD between Arbitrum, Optimism, and Ethereum. Camelot, an Arbitrum-native DEX, is providing liquidity for the $LUSD/$ETH pair. Arbitrum marks the second L2 network to support $LUSD. Liquidity is an interest-free borrowing protocol that allows users to mint $LUSD against $ETH collateral. According to data from DeFi Llama, Liquity currently holds over 350k ether in TVL.

Uniswap Integrates Moonpay On-Ramp

Uniswap added support for fiat-to-crypto purchases directly on its web app via Moonpay. Users now purchase crypto with fiat using a credit card, debit card, or bank transfer. The integration supports conversions into Ethereum, Polygon, Optimism, and Arbitrum networks. Moonpay offers users spread-free trades on USDC purchases. Supported tokens currently include DAI, ETH, MATIC, USDC, USDT, WBTC, and WETH. KYC is required for purchases as part of Moonpay’s policy. The integration also doesn’t include an off-ramp for crypto-to-fiat withdraws, however, users can sell through Moonpay’s website. Uniswap plans to add an off-ramp in the future.