Ethereum Cancun upgrade is coming: a review of the favorable tracks and 20 projects

On February 1, Cointelegraph reported that Ethereum developers plan to set the mainnet launch date for the Dencun upgrade on February 8. In a Reddit community post, Ethereum core developer Tim Beiko said that the recent Cancun upgrade test went smoothly, the Sepolia testnet upgrade on January 30 was also successful, and the final Holesky testnet upgrade was scheduled on February 7.

Christine Kim, vice president of research at Galaxy Digital, said there is an 80% chance that the Dencun mainnet will be activated by the end of March.

As the Cancun upgrade approaches, which tracks and projects will reap the benefits of the Dencun upgrade?

According to the previous article "How the Cancun upgrade will improve Ethereum's performance?", a major core of the Dencun upgrade is to reduce the cost of L2 publishing data, and will drive the demand for Infra tracks such as decentralized storage, DA and RaaS.

L2 network and its ecology

One of the most direct beneficial tracks for Dencun upgrade is the L2 track. The introduction of the Blob data format reduces the transaction fee of L2 by one thousandth of the original. Lower fees and better performance will not only attract more users, but also promote the prosperity of its network ecology.

Optimistic Rollup System 7 Major Networks

1. Arbitrum’s on-chain TVL exceeds $10 billion, expanding vertically through the Orbit L3 stack

Entering 2024, the value of crypto assets locked on the Arbitrum One mainnet has exceeded $10 billion, and is now $10.5 billion. According to L2Beat data, on February 1, Arbitrum One's TVL market share accounted for 49.8%, and it has long been ranked first among many Layer2 projects.

According to Dune data, as of February 1, the total stored value (TVB) of ETH bridged by Arbitrum's official bridge was 3.354 million. During the same period, the total value of ETH bridged by Optimism's official bridge was 320,000, zkSync was 2.975 million, and Starknet was 860,000.

The native token ARB has a market value of $2.17 billion, ranking 41st among crypto assets.

On January 31, the Arbitrum community initiated the implementation of the ArbOS20 version proposal to support most of the improvements in the Dencun upgrade, including the ability to publish L2 transaction batch data in the form of blobs on L1 Ethereum at a cheaper price using EIP4844. The ArbOS20 upgrade version will support any Arbitrum chain based on L1 Ethereum and its on-chain applications, without modification or any action required to obtain the benefits of the Cancun upgrade.

According to statistics from Arbitrum's official ecological portal page Portal, there are 689 ecological projects included, covering cross-chain, DeFi, infrastructure and tool products, games, NFTs, etc. Representative applications include decentralized perpetual contracts GMX and Hyperliquid, multi-chain lending Radiant, native DEX Camelot and metaverse game ecosystem Treasure.

Regarding ecological development, on January 20, the Arbitrum Foundation announced the launch of the second phase of the funding program to provide financial support to builders. Grants issued through this program will be used to improve the adoption of Arbitrum and create a stronger technical structure to build a sustainable community in the Arbitrum ecosystem.

Subsequently, blockchain game The Beacon, token management tool Collab.Land, and LayerZero-supported income strategy platform Mozaic announced that they had received funding from the Arbitrum Foundation.

In addition, Arbitrum is also attracting projects and developers through the Orbit technology stack plan. According to Steven Goldfeder, co-founder of Offchain Labs, there are currently more than 50 Arbitrum Orbit chains under development, and it is predicted that there will be 150 Orbit chains on the mainnet in 2024.

On January 16, Arbitrum announced the launch of the Arbitrum Orbit expansion plan, which supports developers to build their own L2 or L3 and settle directly to Ethereum or other Ethereum L2, such as Optimistic ollups, ZK-Rollups and other networks.

At the end of December last year, the Xai network, which was designed specifically for games and built based on Arbitrum Orbit technology, announced an airdrop of XDAI tokens to community users, which attracted users to the Arbitrum L3 network.

At present, nearly 20 Layer3 networks have been publicly announced to be built based on Arbitrum Orbit technology, including game development platform Cometh, arcade game SankoGameCorp, metaverse game Hytopiagg, multi-chain NFT collection platform Polychain Monsters, music copyright protection and creation platform Oursong, points service application Melior, derivatives trading platform Syndr and DeriProtocol, liquidity platform Superposition, NFT derivatives trading platform HookProtocol, etc.

On January 29, the NFT trading platform Rari Foundation announced that the Rari Chain mainnet, an L3 network built on Arbitrum that can be used to protect NFT royalties, has been launched;

On January 30, Karel Vuong, co-founder of the metaverse gaming platform TreasureDAO, said that TreasureDAO is building a gaming chain that may be based on Arbitrum.

2. Optimism builds L2 super chain horizontally through OP Stack development components

In terms of TVL, Op Mainnet is the second largest network in the current Layer2 market, second only to Arbitrum.

According to L2beat data, as of February 1, the value of locked crypto assets on the Op Mainnet chain was $5.13 billion, accounting for 24.4% of the market share. Its native token OP is currently priced at $2.84, with a market value of $2.73 billion, ranking 34th among crypto assets.

At present, the Optimism ecosystem mainly consists of the Op Mainnet and various Layer2 networks built based on the OP Stack.

Regarding Op Mainnet, the DeFiLlama data platform has recorded 208 ecological applications, including DEX platform Velodrome, lending application Sonne Finance, and various derivatives platforms such as Kwenta and Lyra built on Synthetix.

Currently, there are dozens of Layer networks built on OP Stack. Among them, the most well-known is the Base network, with a TVL of US$723 million, ranking fourth in the Layer2 market. The Manta Pacific network, which ranks third in TVL, was also initially built on the Op Stack, but Manta later migrated it to Polygon CDK.

In addition, there are the application chains of opBNB and Worldcoin ID launched by BNB Chain, Zora Network of NFT trading market Zora, Loot Chain built by Loot ecological project Adventure Gold DAO, and OPCraft, a special chain for on-chain virtual world games produced by on-chain game developer Lattice.

The options protocol Lyra V2 has built a custom chain on the OP Stack, the growth incentive network Mode has been launched on the developer mainnet, the Web3 cross-chain infrastructure Swan has launched Swan Chain, and the game studio Lattice has launched the L2 chain Redstone, etc.

On January 30, Optimism co-founder Ben Jones proposed that Treasure join the Optimism Superchain and build Treasure Chain based on OP Stack.

3. Base, backed by CoinBase

Base is the L2 built by Coinbase based on OP Stack. As of February 1, the TVL is $723 million, and the number of ETH stored in cross-chain bridges has reached 320,000.

Among them, DeFiLlama has included 209 ecological applications, including DEX platform Aerodrome, lending Seamless Protocol, and the once popular social application friend.tech.

4. Manta launches Layer 2 network Manta Pacific

Manta Pacific is an L2 launched by Manta, a ZK-based L1 network, in July last year. It was originally built on OP Stack and later announced to migrate to Polygon CDK's zkEVM architecture.

In January of this year alone, the Manta network received investments from two institutions, Newman Capital and ArkStream Capital. During this period, it announced the economic model and airdrop plan of its governance token MANTA, and the ecosystem entered a period of rapid growth.

On January 30, DWF Labs said that it has contributed $3 million TVL on the Manta Network DEX since November last year. As of press time, the price of MANTA is $2.93, with a market value of $730 million.

According to L2beat, Manta Pacific’s TVL was US$1.59 billion on February 1, with 39 applications included, including lending applications LayerBank and ZeroLend, DEX platforms Aperture Finance and PacificSwap, etc.

5. Blast, a rising star in L2

Blast is an L2 network based on Optimistic Rollups technology launched by the founder of Blur. Incentivized by the expected airdrop, since its launch on November 21 last year, the network's TVL has attracted more than $1.33 billion in funding as of February 1, and has received $20 million in funding support from Paradigm and Standard Crypto.

On January 17, Blast announced the launch of the testnet and simultaneously started the "Big Bang" airdrop competition. Developers participating in the competition will have the opportunity to receive airdrop token rewards, which has attracted a large number of crypto enthusiasts.

However, on February 1, former EVM engineer @0xKaden posted a message saying that he had discovered problems with Blast’s codebase, that it had plagiarized Optimism’s code, and that it had changed Optimism’s MIT license to BSL. Blast intended to fork the Optimism codebase.

6. Decentralized sorter Metis

Metis Network (Metis for short) was originally a Layer 2 expansion network built based on Optimistic Rollup technology. In July last year, it announced that it would be upgraded to a Hybrid Rollup solution, and by introducing a decentralized sorter pool and other innovative technologies, it made it unique among many Layer 2 networks.

The so-called decentralized sorter, Metis, has introduced a PoS sorting pledge pool, where users can become sorter operation nodes by staking tokens METIS. Currently, to become a Metis sorter node, you need to stake 20,000 METIS tokens, which is worth about $1.6 million.

Currently, in the mainstream L2 Rollup solution, the Sequencer is responsible for receiving transactions from users, processing them off-chain, generating a batch of compressed ordered transactions, and then sending them to Ethereum.

However, L2 network sorters such as Optimism and Arbitrum mostly operate in a centralized manner. Although the cost is low, due to the sorting function they are responsible for, MEV gray income is prone to occur. Sorters obtain additional income by disrupting or rushing, or giving priority to transactions with high Gas, making transactions no longer decentralized, or a single sorter is attacked, affecting the entire network.

Metis increases competition and transparency by expanding the number of sorter nodes through the sorter pool, and then introduces a consensus algorithm to disperse power and eliminate the technical risk of single control, thereby improving the decentralization of the sorter.

On January 16, community testing of the PoS sorter pool was launched on the Metis Sepolia testnet, which will be officially released on the mainnet later in 2024.

Last December, the MetisDAO Foundation launched the $100 million Metis Ecosystem Development Fund (Metis EDF), which will allocate 4.6 million METIS for sorter mining, traceability funding, new project deployment, etc. to accelerate the development of its ecosystem.

As of February 1, the Metis network TVL locked crypto assets are worth $667 million, ranking top five in the Layer2 market. The token METIS is quoted at $78.4, with a market value of $410 million, ranking 140th.

7. Modular L2 Network Mantle Network

Mantle Network is an Optimistic Rollup modular Layer2 expansion solution incubated by BitDAO, and was launched on the test network Sepolia on January 12.

In Mantle, the main network provides the execution layer, consensus and settlement are on L1 Ethereum, data availability is sorted out by the dedicated Mantle DA layer, and the underlying technical support is provided by the modular data service provider Eigenlayer. This form of division of labor and cooperation is more conducive to improving on-chain efficiency.

On December 4 last year, Mantle announced the launch of the liquidity staking protocol Mantle LSP on the Ethereum mainnet, entering the LSD track. Users can stake ETH through this product to benefit from the Ethereum PoS network and obtain liquidity staking certificates mETH. It is the second core product in the Mantle ecosystem.

As of February 1, the amount of ETH staked by Mantle LSP was approximately 339,000, worth US$810 million.

On January 18, Mantle EcoFund, an ecosystem venture capital fund established by the Mantle community, announced that it has deployed US$10 million in funds to invest in 6 DeFi projects within the ecosystem, including Merchant Moe, an automated market maker DEX built by the Trader Joe team, native DEX platform Butter.xyz, stablecoin trading market INIT Capital, EigenLayer's liquidity re-hypothecation platform Renzo, multi-chain decentralized perpetual trading platform MUFEX, and spot and derivatives trading platform TsunamiX.

As of February 1, the MNT token price was $0.56, with a market value of $1.79 billion, ranking 47th.

ZK Rollup Series 5 Layer2 Networks

1. ZkSync

As of February 1, the TVL on the ZkSync Era chain was US$648 million, making it the largest network in the ZK Rollup system and ranking sixth in the entire Layer2 market.

Since last June, zkSync announced the launch of ZK Stack, a component for building customized zkRollup L2 and L3 (also known as HyperChain), the zkSync ecosystem has the ZkSync Era mainnet and L2 or L3 networks built on ZK Stack.

On January 31, Omar, BD director of zkSync developer Matter Labs, made a proposal in the TreasureDAO community, hoping that Treasure Chain would use ZK Stack as L2 and use L3 chain for vertical expansion. In addition, Matter Labs said that it is working with the Lambda Class team of zero-knowledge proof research to enable the ZK Stack chain to have its own native Gas token, and Treasure Chain can use MAGIC or any other ERC-20 as Gas token.

Regarding the ZkSync Era mainnet, the DeFiLlama data platform has 96 ecological applications, including DEX platforms Mute.io and Velocore, lending applications ZeroLend, and derivatives protocols Rollup.Finance. Among them, on January 30, the lending protocol ZeroLend announced an airdrop to Pyth Network oracle stakers.

However, during the public chain inscription explosion period in December last year, the performance of the zkSync Era network did not stand the test. It was reported to be down on December 15, and no blocks were produced for nearly 2 hours.

2. Starknet

On January 31, the on-chain data released by Starknet core developer @antiyro on social media showed that transactions on the Starknet network had used STRK to pay for gas fees. On February 1, Braavos, the Starknet ecosystem smart contract wallet, listed STRK tokens by default. Community users speculated that this was Starknet's preparation for testing the issuance of the token STRK.

Prior to this, on January 10, the Starknet mainnet completed the v0.13 upgrade, which can significantly reduce costs through more efficient transactions, and is also responsible for the technical preparations for using STRK to pay fees.

In terms of application chains, on January 20, Starknet posted on social media that it will cooperate with the modular DA layer Celestia to achieve a high-throughput Layer3 network.

As of February 1, the TVL on the Starknet chain was US$140 million, and there were 18 applications included, including DEX platforms JediSwap and mySwap, lending application zkLend, derivatives trading protocol ZKX, etc.

3. Polygon zkEVM

As of February 1, the TVL on the Polygon zkEVM chain was US$116 million, ranking 13th among many Layer 2 networks.

Compared with the mediocre on-chain ecosystem, the Polygon CDK development stack performs quite well.

Since the announcement of the launch of the chain development kit CDK for developing and connecting to Ethereum L2 in August last year, several well-known projects have developed Layer2 networks based on its technical architecture.

This includes ZKFair, a community-driven network that has been trending on social media recently. It is a ZKRollup built on Polygon CDK and Celestia DA technology; and Manta Pacific, which was transferred from OP Stack halfway.

On January 30, the gaming public chain Immutable stated that the zkEVM mainnet launched in cooperation with Polygon will be open to the public in the next few weeks.

Last December, Indian e-commerce company Flipkart announced that it would build an L2 network based on Polygon CDK to expand its Web3 loyalty program; last November, OKX announced a partnership with Polygon to launch the zkEVM L2 network X1; last October, Polygon Labs co-founder also proposed that ApeCoin DAO use Polygon CDK to develop its L2 network ApeChain.

Currently, Polygon 2.0 is an L2 multi-chain network ecosystem driven by ZK technology, including zkEVM, PoS, and L2 network built on CDK.

On January 28, Polygon zkEVM stated on social media that it plans to upgrade Etrog, which will make Polygon zkEVM a Type2 zkEVM (completely equivalent to EVM), allowing developers to deploy code on Polygon zkEVM with the same experience as Ethereum.

On February 1, Marc Boiron, CEO of Polygon Labs, the developer of Polygon, announced that 60 employees had been laid off, accounting for 19% of the team members.

4. ConsenSys’ Ethereum L2 solution Linea

According to Dune data, as of February 2, the number of ETH bridged by the Linea mainnet has reached nearly 380,000, and the number of interactive addresses has reached 418,000.

On January 28, Linea posted on social media that users who have participated in its DeFi Voyage event will have SBT soul tokens LXP (Linea Voyage XP) airdropped to their wallets if they complete Proof of Humanity (PoH) personal identity verification on the identity verification platform Verax before January 22.

Last December, Linea announced the Linea Voyage XP (LXP) ecological incentive program, which will issue non-transferable SBT tokens LXP to users participating in the DeFi Voyage event to recognize the community’s contribution to the development of the Linea ecosystem.

5. Scroll

Since the announcement of the launch of the mainnet in October last year, the value of locked crypto assets (TVL) on the Scroll chain has increased to US$63.8 million, and the total value of ETH bridged by the official cross-chain bridge Scroll Bridge has exceeded US$138 million.

On January 2, Scroll co-founder Sandy Peng released the 2024 roadmap. Scroll plans to reduce cross-chain costs by 50%, use EIP-4844 Blob to reduce transaction fees, add multiple validators, join decentralized proof and parallel EVM, etc.

In a public speech on December 27 last year, Sandy Peng stated that the tools required by developers such as Chainlink, The Graph, RPC, etc. are basically all online. Next, some Ethereum ecological projects that everyone is familiar with will be gradually deployed on Scroll. At the same time, the focus of development in 2024 will also tend to native projects on Scroll. Next year, ecological projects will be encouraged to do more Fair Launch to support fair participation of the community.

Data availability layer DA and storage track

The core module EIP-4844 of Dencun upgrade introduces the Blob data storage format in the process of L2 data submission to L1, that is, to build a dedicated channel for uploading L2 transaction data to the L1 main network, so that Ethereum can carry more data, improve Ethereum's TPS and reduce costs. However, Blob data storage is not permanent, but a temporary data packet, which will be regularly cleared or discarded at regular intervals (currently 18 days).

Since Blob data can only be stored for a short period of time, there are problems with calling historical data, but this data still has potential value in being called and analyzed.

Therefore, the storage of this part of data will also drive the demand for decentralized storage services. The modular data availability layer DA can provide programmable L2 data solutions at a lower storage cost, and ensure that on-chain data is available and accessible to all network participants. After the EIP-4844 upgrade, the cost of data availability can be further reduced to one-fifth to one-tenth of the original.

DA level project representative

Celestia, the leading project in the DA layer

Celestia is a PoS network based on CometBFT and Cosmos SDK, and is also a modular blockchain project focusing on data availability. It deconstructs the blockchain into consensus layer, execution layer, data availability layer, etc. through modular architecture, and completes their respective tasks through division of labor and cooperation to improve network performance and efficiency.

Its DA layer mainly consists of two functions: data availability sampling (DAS) and namespaced Merkle trees (NMT).

The former DAS enables light nodes to verify data availability even without downloading the entire block; the latter NMT allows the network to classify data into different "namespaces", enabling applications to download only the data relevant to them. This selective data retrieval makes Celestia more efficient and scalable, especially for applications that only require specific selected blockchain data.

Currently, Celestia has become the preferred data solution for developers when building L2 networks.

Among them, Polygon CDK, OP Stack, ZK Stack and other L2 network developer stacks have integrated its technology. Developers can directly use Celestia as the data availability layer when building their own L2 networks.

On January 30, Starknet announced a partnership with Celestia to build an L3 network. In addition, Manta Pacific is also based on Celestia's representative L2 network.

Avail

Avail was originally a project founded by Polygon Labs in 2020 to solve the problem of data availability, but in March last year it separated from Polygon and operated as an independent DA public chain, no longer limited to Polygon or Ethereum.

Avail can efficiently sort and record transactions, provide data storage and verify data feasibility, etc.

Last November, Avail announced the launch of the incentivized testnet “Clash of Nodes”, inviting existing validators from the Kate testnet to incentivize validators and light client operators to conduct testing, verification and operation to obtain points and potential rewards.

EigenDA

EigenDA is a decentralized data availability layer DA developed based on the Ethereum re-staking protocol EigenLayer, and the data availability layer of the modular L2 network Mantle is technically supported by it.

Unlike general-purpose DA projects such as Celestia and Avail, EigenDA is a middleware that does not have its own consensus mechanism. Its security is obtained through the Ethereum validator re-staking model of EigenLayer.

At the same time, EigenDA is also the first active verification service (AVS) on EigenLayer. Re-stakers re-stake ETH into EigenDA to perform data verification services in exchange for rewards, and L2 publishes data to EigenDA, thereby achieving lower transaction costs and higher TPS.

Last November, EigenLayer announced the EigenDA Phase II testnet, where Operators can register to the network and start validating EigenDA; Restakers can delegate their stakes to Operators and start using shared security with EigenDA; and as Rollups developers, EigenDA can be integrated as a data availability layer.

On December 5 of the same year, EigenDA announced the launch of its partner program. Among the first batch of participants, eight networks have used EigenDA to achieve data availability, namely AltLayer, Caldera, Celo, Layer N, Mantle, Movement, Polymer Labs and Versatus.

NearDA

Last November, the Near Foundation announced the launch of Near DA, a data availability solution. It is reported that publishing data on Near DA may be about 8,000 times cheaper than publishing data directly on Ethereum. Initial users include Starknet's Madara, Caldera and Movement Labs.

On January 19, Near DA said it had integrated with Polygon CDK for developers to build Ethereum ZK Rollups. Prior to this, on December 21 last year, Near DA announced that it had integrated with Arbitrum Orbit.

Data storage track

Ethereum L2 data storage project ETHStorage

ETHStorage is focused on solving Ethereum's dynamic storage problems and is positioned as the first storage L2 in the Ethereum ecosystem.

Based on Ethereum Data Availability (DA), ETHStorage can provide L2 solutions for programmable storage at a lower cost. It will greatly reduce the storage overhead of large amounts of data on Ethereum. When programmable storage is expanded to hundreds of TB or even PB levels, it can save 100 to 1000 times the cost.

Last July, Ethereum’s L2 data storage project EthStorage completed a $7 million seed round of financing with a valuation of $100 million.

Decentralized Data Infrastructure Covalent

Covalent provides a blockchain data indexing service, providing developers with an API for unified retrieval of blockchain data, allowing developers to reuse queries on multiple blockchains. It extracts data from various blockchains, uploads this data to a storage instance, indexes and transforms the stored data objects, and loads the data into a local data warehouse queried by API users.

Last November, Covalent launched the Ethereum Wayback Machine (EWM) to solve the long-term data availability problem and store L2 state data discarded by Blob for a long time. In addition, Covalent will integrate L2 data into its existing decentralized data analysis infrastructure services, not just simple storage.

In addition, there are also old decentralized storage projects such as Filecoin, Arweave, Storj, and BNB Greenfield in the storage track.

LSD and heavy pledge track

In addition to reducing the cost of publishing L2 data to L1, the Dencun upgrade also introduces EIP-4788, which can place the block root of the Ethereum beacon chain into the execution layer EVM mainnet, so that the Ethereum mainnet EVM layer can directly read the data consensus status on the beacon chain without relying on a third party to transmit information and data, eliminating the impact caused by external failures.

EIP-4788 enables smart contracts on Ethereum’s execution layer EVM to directly read key data such as the balance and status of ETH staked in validators on the beacon chain, improving security and capital utilization.

Simply put, liquidity staking protocols such as Lido, Rocketpool, Swell, and re-staking protocols such as Eigenlayer deployed on the EVM layer can directly access key data such as validator balances and status from the consensus layer, reducing the trust assumptions in previous re-staking and improving their operational efficiency.

EigenLayer

According to information on EigenLayer’s official website, on February 2, the number of ETH staked in EigenLayer was approximately 460,000, with a value of approximately US$1.1 billion.

EigenLayer supports re-staking of LST assets to obtain staking income other than Ethereum PoS, such as staking on other side chains, oracles, middleware, etc., as a node and receiving verification rewards, so that third-party projects can enjoy the security of the ETH mainnet, and ETH stakers can also get more benefits.

Currently, EigenLayer supports multiple LST assets including Lido's stETH, Rocket Pool's rETH, Swell's swETH, etc.

On February 6, EigenLayer will add three new LSTs, including sfrxETH for Frax Ether, mETH for Mantle Staked Ether, and LsETH for Liquid Collective Staked Ether.

In addition, there are already several re-pledge protocols built on EigenLayer, such as Renzo, a re-pledge protocol that completed a $3.2 million seed round of financing on January 16 and is not subject to the EigenLayer LST deposit limit.

On January 22, the multi-chain yield protocol Magpie announced its integration with the Ethereum re-staking protocol EigenLayer, and established the SubDAO organization Eigenpie to provide re-staking services, etc.

RAAS Service Provider

With the launch of various Rollup network development components such as Polygon CDK, OP Stack, and ZK Stack, developers can quickly deploy L2 networks with one click through simple and easy-to-use tools or even in a code-free form.

However, faced with numerous L2 Stacks solutions, how developers choose the optimal solution has become an important issue that needs to be solved urgently. Rollup as a Service (RaaS) service providers have emerged. They can not only help developers find the most suitable L2 Stack according to their own needs, but also provide related chain building or related supporting facilities, so that projects can focus on building products rather than infrastructure.

Rollup-as-a-service providers such as Caldera, AltLayer, and Conduit make it easier to deploy L2 or L3.

Conduit focuses on the Optimism ecosystem

Conduit is a RAAS platform focusing on Optimism Rollup, which can help developers quickly build L2 based on OP Stack, and has successfully built OP series Rollup L2 networks such as Zora Network, Aevo, Lyra and Orderly Network.

Last September, Conduit added support for Arbitrum Orbit, allowing developers to quickly deploy L2 or L3 on Arbitrum and helping Parallel Network successfully build an Arbitrum-based L2 Rollup.

In March last year, Conduit received $7 million in seed round financing led by Paradigm.

Caldera

Caldera is also a RaaS service provider built on OP Stack, supporting developers to quickly build an OpL2 in a code-free manner.

Caldera is more like a one-stop service platform for Rollup development, providing project parties with all the tools and resources they need to build Caldera Chains based on the OP Stack or Arbitrum Orbit framework.

In addition to L2 itself, Caldera is also equipped with a series of blockchain infrastructure, such as blockchain browsers, test network faucets, etc., to further reduce the cost of chain issuance and usage threshold, and enable plug-and-play.

Among them, L2 networks such as Loot Chain, Manta Pacific, and Rari Chain are all built with technical support from Caldera.

Last September, Caldera received $9 million in seed round financing led by Sequoia Capital and Dragonfly.

Restaked Rollups Service Solution Altlayer

Altlayer supports developers to deploy L2 without code. Developers only need to perform simple graphical interface operations to quickly create a Rollup chain.

The current flagship product is Restaked Rollups combined with EigenLayer’s re-staking service, which enhances the security of the Rollup public chain through EigenLayer’s active verification service (AVS).

On January 17, Binance launched AltLayer (ALT) new coin mining.

ZK RaaS Solution Lumoz

Lumoz, formerly known as Opside, is a RaaS solution built on ZK. It supports developers without having to know any knowledge related to ZK. They can quickly deploy a ZK-Rollup or generate a customized zkEVM application chain through simple front-end operations.

The recently popular Layer2 network ZKFair is one of the ZK-based L2s built based on Lumoz.

In April last year, Lumoz received a $4 million seed round of financing led by Web3.com Ventures and participated by NGC Ventures and others.