The founder of the second largest cryptocurrency by capitalization, Vitalik Buterin, transferred 562 Synthetix (SNX) native DeFi protocol tokens worth $ 9695 to staking. Previously, the project launched a second tier solution called Optimistic Ethereum (OΞ).
Buterin transferred 562 SNX to the address of the bridge connecting the largest decentralized derivatives platform to the OΞ sidechain.
According to the developers, OΞ is the first scaling solution with “the full possibility of cross-tier transfer of smart contracts without the need to rewrite the code.”
Smart contracts of the Synthetix decentralized platform were converted into the Optimistic Virtual Machine (OVM) format. This allowed holders of a small number of SNXs to bypass high gas cost restrictions.
We will remind, in October Buterin urged developers to focus on solutions of the second level and embed them in wallets, since there are “years” left before the scalability of Ethereum at the basic level.
In August 2020, the Synthetix project switched to a decentralized management model.
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