Resonate Added Support For Arbitrum
Resonate added support for Arbitrum an L2 solution designed to improve the capabilities of Ethereum smart contracts. Arbitrum has been at the forefront of L2 development and has established a diverse community to suit.
The next genesis of DeFi will take place on L2s, so it is essential Resonate establishes a presence on what is currently the largest scaling solution by capitalization.
The platform is designed to allow developers to easily run unmodified EVM contracts and Ethereum transactions on a second layer, while still benefiting from the underlying L1s security.
It’s built to address some of the shortcomings of current Ethereum-based smart contracts — such as poor efficiency and high execution costs — which have damaged the Ethereum user experience and frequently make transacting an expensive task.
How does Arbitrum work?
Arbitrum uses a technique known as transaction rollups to record batches of submitted transactions on the Ethereum main chain, and execute them on cheap, scalable layer 2 sidechains while leveraging Ethereum to ensure correct results. This process helps to make Ethereum more efficient by moving some of the computational and storage burden to layer 2. This will enable new kinds of powerful DApps.
What’s to come?
- Arbitrum network integration
- Resonate is listed on Arbitrum Ecosystem Portal
- More partnership
Arbitrum is a layer 2 solution that improves the speed and scalability of Ethereum smart contracts while adding additional privacy features.
ABOUT Revest Finance
The Revest Protocol offers a revolutionary new use of NFTs as financial tools through the Financial Non-Fungible Token (FNFT). Individual and enterprise-level users can deposit any ERC-20 or ERC-721 into Revest’s interactive FNFTs.
Set custom unlocking conditions (time, value, or contract-based). Revest allows the tokenization of all non-fungible financial positions with non-fungible tokens. This solution offers applications for token vesting, derivatives, and borrowing/lending platforms.
Resonate is a Yield Futures Protocol develops by Revest Finance and built on top of Revest’s Financial NFT (FNFT) technology. Users can use Resonate to split a position into its principal and interest components by issuing two FNFTs. One FNFT will contain the principal, while the other will contain the rights to future interest on that principal. Resonate facilitates the commerce of the rights to future interest by matching issuers and purchasers.