Optimism TVL Breaks New Record Before The Ethereum Merge
✍️ 13 August, 2022 - 13:20 👤 Editor: Jakub Motyka
- Optimism's TVL increases by 300% before the Ethereum Merge.
- The new update is scheduled for September 19th.
- In the last few days, the amount of Dai in Optimism has multiplied four times.
Ethereum's scaling solution Optimism has surpassed $1 billion in total value locked (TVL) in the past few days. According to Defi Llama data, this parameter increased by 284 % in the last month, thanks to the next ETH update, The Merge, where the blockchain will go from PoS to PoW.
The Total Value Locked (TVL) is an indicator used to measure the amount of money or value, locked in the form of Staking or liquidity funds. This, among other things, allows us to have an idea clearer about the potential and profitability of a project or token. In networks that use the PoS consensus method, such as Ethereum after the Merge, a large TVL is synonymous with greater security. This makes the Optimism project a very promising scalability tool.
Optimism Prepares For Ethereum's Upgrade
As a layer 2 network of Ethereum, Optimism seeks to increase the scalability of the ecosystem through Rollups to speed up transactions and reduce commissions. The project has 35 protocols, among which is the creator of Velodrome automated market, the Uniswap DEX and the Synthetix exchange.
After the Ethereum upgrade, the number of transactions per second is expected to increase from 30 to more than 100,000. Layer 2 scaling solutions, such as Optimism, could give this number a second boost due to the way it's structured. Consequently, the number of investors and TVL have increased as the Merge approaches.
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