WePiggy’s Launch on Arbitrum Mainnet

WePiggy is one of the first decentralized applications (DApps) announced in Arbitrum’s initial group of DeFi projects.

Arbitrum is the first live EVM-based rollup and a huge milestone for the whole Ethereum ecosystem.

By integrating the Arbitrum network, WePiggy users can enjoy faster transactions and lower gas fees, jointly explore the new world of the “True Ethereum Layer 2 Network” lending protocol.

The Integration Progress

🔸WePiggy’s Smart Contracts Deployed

Integration with Arbitrum has been underway since the mainnet was opened to developers on May 28. As of June 9, WePiggy’s smart contracts have already been deployed to the Arbitrum mainnet.

🔸Front-end Upgrading

Over the next several weeks, the team will work to add frontend support for the Arbitrum mainnet, including cross-chain bridge entrance and wallet integrations.

🔸Price Feed System Building

Will follow the usual practice on other networks, give priority to using Chainlink’s price feed. At the same time, we have set up a warning system. Once a failure of the ChainLink oracle is found, it will automatically switch channels according to the priority.

The warning system will also feed back abnormal situations to the risk control team of the core development team so that the risk control team can make timely judgments based on changes in the market environment to minimize the loss of user assets in extreme environments.

🔸On-chain Data Monitoring

The liquidity construction is the key point of the on-chain liquidation mechanism, will keep our eye on this part and bring the users with more markets and a better user experience.

What is Arbitrum?

Arbitrum is an L2 scaling solution for Ethereum, offering a unique combination of benefits:

• Trustless security: security rooted in Ethereum, with any one party able to ensure correct Layer 2 results
• Compatibility with Ethereum: able to run unmodified EVM contracts and unmodified Ethereum transactions
• Scalability: moving contracts’ computation and storage off of the main Ethereum chain, allowing much higher throughput
• Minimum cost: designed and engineered to minimize the L1 gas footprint of the system, minimizing per-transaction cost.

It’s the first available and true Layer 2 solution of Ethereum, no other system offers the above combination of features at the same cost.

What is WePiggy?

WePiggy is an open-source, non-custodial, crypto asset lending market protocol. In WePiggy’s market, users can deposit their crypto assets to earn interest, or borrow other crypto assets by paying interest. WePiggy aims to spread the benefits of cryptocurrency’s freedom and transparency to the widest possible user community in a more friendly and simple way, as well as be a good partner for them in wealth management. WePiggy will do the best to provide you with a safe, stable, and efficient DeFi lending market.

📰 INFO:

https://wepiggy-com.medium.com/wepiggy-launches-on-arbitrum-mainnet-96fe986113b1