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DEXs launch ‘L2 Squared’ alliance to promote Ethereum scalability

Published 12/21/2020, 02:35 PM
Updated 12/21/2020, 04:20 PM
DEXs launch ‘L2 Squared’ alliance to promote Ethereum scalability
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Layer two decentralized exchanges Loopring and DeversiFi are joining forces by forming a committee dedicated to promoting usage of layer two solutions, named “L2 Squared” or just L².

Announced on Monday, the alliance wants to ease the transition for users into these higher performance on-chain exchanges. “As things stand, Loopring and DeversiFi are the first exchanges on Ethereum to harness Layer-2 solutions, using zkRollup and StarkEx’s Validium respectively,” explained Will Harborne, founder of DeversiFi. “However the much-needed migration to Layer-2 is not a simple one, and the network effects of Layer-1 composability are very strong which stand to slow down this ongoing transition.”

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