Layer2.finance v0.1 Mainnet Launches

Published on: 23.04.2021

Layer2.finance v0.1 launches on Ethereum mainnet taking on two biggest challenges in DeFi: the extraordinarily high transaction fees & being very difficult to navigate and use.

To allow people to experience the significantly lowered costs, they announced that all layer2 transactions via layer2.finance will be COMPLETELY FREE for ALL USERS for the first 60 days after v0.1 launch.

Layer2.finance is built with Celer’s optimistic rollup architecture and the rollup contract is fully open-source. In the v0.1 launch, it will start with a single block producer before transitioning to using the decentralized Celer State Guardian Network mainnet at some point in the future. In the initial stage of the launch, we also retain an emergency key to halt the contract to allow fund recovery should any unforeseen security risk happen. As expected, the authority of the key will be revoked down the road and transferred to a governance contract when we have enough run-in of the protocol.

What is Layer2.finance?

Layer2.finance is a novel solution that allows people to access all existing DeFi protocols at a fraction of the cost by acting like a “DeFi Public Transportation System”.

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