Sound.xyz Goes Live On Optimism

Quick Take

• Polygon announces Polygon 2.0.
• Lido Finance opens applications for node operators.
• Test in Prod releases a mainnet version of OP-Erigon.
• Sound.xyz goes live on Optimism.

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Optimism Highlights 🔴✨

Sound.xyz Goes Live On Optimism
Music NFT platform sound.xyz is now live on Optimism, providing users with access to lower transaction fees for uploading audio and collecting NFTs. Minting an NFT on Optimism costs roughly 10 cents in transaction fees, compared to nearly $7 on Ethereum mainnet. Over 128k NFTs have been minted on Sound.xyz, generating close to $4.8 million in primary sales volume for artists.

OP-Erigon Mainnet Release
Test in Prod, an independent group of contributors to the Optimism Collective, released a mainnet version of OP Erigon. Optimism node operators can now use OP-Erigon as their execution client. The release includes a mainnet RPC endpoint by Test in Prod, an explorer via Otterscan, and a forked OP Erigon library and interface. The release comes as OP Mainnet upgraded to Bedrock, which introduced multi-client support. Support for multiple clients enables client diversity and makes the OP Stack more resilient against client bugs. OP Erigon is a fork of the L1 Erigon execution client. a16z Crypto is also working to bring its OP Magi consensus client to mainnet.

Polygon Introduces Polygon 2.0

Polygon announced Polygon 2.0, the next iteration of the protocol featuring a network of ZK-powered L2 chains unified through a new cross-chain coordination protocol. Polygon 2.0 will consist of a series of upgrades to protocol architecture, tokenomics, and governance. Polygon describes the next phase of the protocol as a value layer. The upgrade aims to provide scalable transaction throughput without sacrificing security, deep liquidity, and capital efficiency. Polygon will release a series of posts over the coming weeks to showcase a roadmap and upgrade details. Polygon will also address the future of its PoS chain and the utility of its $MATIC token.

Lido Opens Node Operator Onboarding Round

Lido Finance announced its 5th node operator onboarding round, allowing node operators to apply for a chance to join Lido’s Ethereum node set. The onboarding round will be performed in a two-part process. Node operators who applied in previous rounds and received a high score can re-apply through June 26th for an expedited evaluation. First-time applicants can apply through June 13th. Node operators that are not accepted in the first stage will be evaluated during the second stage later this summer. Lido currently has a set of 29 node operators and is looking to expand to more client and geographically diverse node operators. Applications will be reviewed by the Lido Node Operator Sub-Governance Group (LNOSG) and will be sent to the Lido DAO for approval.

Pendle Finance Reaches $100 million TVL

Yield trading protocol Pendle Finance reached $100 million in TVL. The protocol’s TVL has grown nearly four-fold over the last three months. Pendle Finance splits assets intro principle and yield tokens. Users can purchase principle tokens at a discount, to be redeemed on a maturity date. Users can also deposit liquidity to obtain yield tokens and leverage their position.

Other News

• EIP-4844 call #24 notes.
• Lens API Media Snapshots.
• HAI launches on testnet.
• Nethermind client v1.19.2 release.
• Instadapp multi-network token transfers.
• CFTC wins Ooki DAO case.
• a16z Crypto expands to the UK.