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DeFi News

OP Stake Adoption Rises Among L2s And Application Chains

The OP Stack ecosystem is reaching a cumulative valuation of over $3 billion.

Written By:
Gopal Solanky

Last updated: September 5, 2023 12:13 PM
Published September 5, 2023 12:13 PM
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Last updated: September 5, 2023 12:13 PM
Published September 5, 2023 12:13 PM

The blockchain infrastructure OP Stack is on rise among the layer 2 chain development landscape.

While a dozen entities are currently building on top of OP Stack, five highly potentialized chains have gone live including Optimism, Base, Zora, Aevo and Public Goods Network (PGN). 

A user on X (Twitter), Stacy Muur marks out the current state of OP Stack with highlighting that its ecosystem is accumulating the way towards the cumulative TVL of $3 billion.

Built by Optimism Foundation, OP Stack enhances interoperability into the Ethereum ecosystem. It is designed to empower developers to build chains for specific requirements. In the crypto ecosystem, Chains built using OP Stack are known as OP-chains. 

As it enables developers with a reliable ground, Several protocols are choosing OP Stack to build their application specific chains. A leading name is opBNB, the Ethereum layer 2 built by Binance, which is live on testnet. 

Other developers with testnet deployed are Mode Network, UniDex, Kinto and Manta network. Half a dozen in-development from major industry players are already in play to be deployed including Celo, Web3 social app DeBank, Magi by VC firm a16z. The stablecoin protocol Frax is also reportedly building a native chain using OP Stack. 

Also read: Base TVL Surpasses $400M, More Than 100 Protocols Deployed

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Gopal Solanky - Crypto Research Analyst at The Crypto Times
By Gopal Solanky Sr. Crypto Journalist
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Gopal Solanky is a Research Analyst and Reporter with over 5 years of experience in DeFi, blockchain, crypto, IT, and financial markets. With a Bachelor's in Computer Applications, he brings a strong technical foundation to his analysis and reporting. Gopal focuses on breaking down complex topics for both seasoned investors and curious readers. His work has been referenced by publications like Business Insider and Vulture.com, highlighting his contributions to industry stories around topics like Huwak Tuah Memecoin and the FTX collapse.

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