Tag: ethereum

How to Delegate $OP on Optimism Blockchain

The Optimism Layer 2 cryptocurrency ($OP token) carries voting power, helping the community make decisions within the ecosystem.

Key Takeaways:

  • Summary of $OP delegation
  • Why you should delegate
  • How to delegate $OP step by step
  • How to select your delegate
  • Changing delegates

What is OP delegation?

OP is a governance token, meaning each token carries a small amount of voting power for different things within the Optimism Network. 

Delegating your tokens assigns the voting power of those tokens to another individual that is specifically focused on reviewing proposals for the Optimism network.

This includes responding to comments and providing feedback, recommendations for improvement, and advice.

When you delegate your tokens – you are NOT giving them away or getting rid of them in any way.

They will remain in your wallet — you still own them and can transact, send, or sell them anytime you want.

What happens when I delegate $OP tokens?

When you delegate $OP, it means you are giving the voting power (not the financial value of your tokens) to a community member who has explicitly volunteered to play an active role in Optimism Network governance.

When you delegate your voting power, you retain 100% ownership of your tokens, and can use them however you want. 

You may change your delegate selection at any time.

Why should you delegate your $OP tokens?

Participating in governance – especially within a fast growing blockchain network like Optimism – is time consuming and costly.

Delegates spend their time and energy as volunteers, participating in this governance process for the benefit of the entire $OP ecosystem.

Being an active participant in governance is not an easy job, and you can see the careful thought that goes into proposal responses from active delegates within the OP governance forum.

How to delegate your $OP tokens (video walk-through)

Using the Optimism Network’s delegation website, any user that owns any amount of $OP tokens can choose to delegate them to someone to vote on their behalf.

The video below will walk you through the process to successfully delegate your $OP:

Who should I choose as my OP delegate?

It is in each OP token holder’s best interest to select a delegate who you feel will do a good job representing your OP voting power and doing so on your behalf.

Read and learn about some of the delegates, like Jrocki, on Optimism’s website.

The bottom line is this: you can choose to delegate to anyone you want.

However, it is advisable to choose someone who you believe will participate in Optimism governance and can represent what you want this ecosystem to become.

Can you change who your $OP tokens are delegated to?

YES – As an $OP holder, delegation is your decision. You can switch your delegation selection to anyone you want (even your own wallet address!), whenever you want, as often as you want.

What is ENS? (Ethereum Name Service)

  • What is Ethereum Name Service?
  • Why is ENS important?
  • How can you setup your own ENS address?

When you use an Ethereum wallet, you’ll receive an arbitrary 42 character set of characters (starting with 0x) that corresponds to your Ethereum address, or PUBLIC key.

(note: this is different from your private key.)

For example, this is what a sample 42 character Ethereum address might look like:

0xb9c2C22et19Q8307cb9255e1Cu9CbDE883A267o1

Many apps and browsers already support ENS names.

What is an ENS domain and why are they valuable?
some ENS supported applications. via ens.domains

Your .eth address is your web3 identity

Ultimately, this many characters is difficult to remember… and, it would be easy to make a type-o or mistake if you had to type it in every time you make a transaction.

To solve this problem, the Ethereum Name Service (or ENS) was created to build a sort of “address book” for the decentralized internet.

The ENS name allows people to associate their 42 character address with a short word or set of characters that is easy to remember, followed by “.eth” at the end.

Similarly to how you type in Google.com (rather than their server’s IP address) and it takes you to Google’s home page, an ENS address does this for web3.

Google DOES, by the way, have a public IP address, but isn’t it way easier to simply type in Google.com?

Your ENS address is tied to your Ethereum wallet

Your ENS name corresponds to your wallet and you can pick whatever name you want, as long as it is not already registered.

In many ways, your ENS is your username for web3 — ENS really is your Web3 identity.

Every ENS domain name is one of a kind… thus, non-fungible. 

ENS addresses are NFTs

Each ENS name you register is an NFT that you own, and can be purchased / sold on secondary via Opensea, or X2Y2.

ENS names use the ERC-721 token standard on Ethereum. Read more about ENS as NFTs here.

ENS offers decentralized naming for wallets, websites, & more.

You can signup for an ENS name at ENS.DOMAINS, and connect to the app using your Metamask wallet.

via ens.domains

Registering an address shorter than 5 characters will incur an additional fee.

ENS names can only be registered by 1 wallet at a time, this has created a sort of competition or marketplace for some of the most sought after names.

For certain special and rare ENS names, some people pay BIG money.

Read more: The MOST EXPENSIVE .eth ENS SALES OF ALL TIME

Combining NFTs in the Metaverse: EIP-4883

This post will dig into EIP 4883, the ethereum improvement proposal for the .SVG NFT standard.

Why is EIP 4883 relevant?

EIP-4883 defines an NFT standard that enables items to be combined in unique ways.

This ability to combine various NFT items / objects is a small step forward for having an interoperable internet, a critical feature of the future of the web3-enabled internet.

fellowship of ethereum magicians EIP 4883 for SVG NFTs
ethereum-magicians.org

To understand what this means, let’s start with video games.

Think about some of the classic / favorite video games….

  • Halo
  • Super Mario 64
  • Super Smash Bros
  • Tony hawk 
  • Call of duty

As loved as all these characters are, why can’t all these characters play together in one game?

if video games were interoperable

Isn’t it unfortunate that these games are not able to be combined in some way where you could use a weapon from Super Smash Bros in Fortnite and vice versa?

Today’s video games were not built to be interoperable.

Fortnite, for example, is closed off to users without Epic Games accounts. 

Similarly, Nintendo games were not built to be played on Playstation or Xbox and vice-versa.

Also, IP rights need to be taken into account as not all games would want to participate in bridged gaming or open metaverse.

What would be possible if video games were interoperable?

Imagine a metaverse where all items in the game exist as unique NFTs, however, all of these items are modularized, where any given item can be combined with any other item.

Imagine playing a tony-hawk pro skater type game in the metaverse…

Imagine if you could bring Bowser from Super Mario 64 over to Tony Hawk’s pro skater game and ride around and do skate tricks as bowser.

Or, sell a skateboard from Tony Hawk as an NFT that can be used in any other game.

SVG-like items such as skateboards would allow users to play with specific NFTs of different characters.

So, I could move a skateboard NFT that I own over to a Mario game for example, and ride around on a tony hawk pro skater 4 skateboard inside super mario 64.

This would be so much fun, if only video games were interoperable.

Interoperability – Why is it important for the internet?

As we think about future of the internet, specifically the 3D version of the internet or the metaverse, making sure everything is interoperable will become more important.

Interoperability is extremely important for the internet, and valuable across a number of apps and use case. 

For example, imagine if EMAIL (electronic mail) was not interoperable, the way video games today are not.

This would mean that you couldn’t send an email from Outlook to someone with a @Gmail.com or @yahoo.com email address.

This would make electronic communication on the internet extremely inconvenient, and we wouldn’t easily be able to communicate with people from different organizations, or companies.

Fortunately, the internet mail standards such as SMTP or communication protocols like TCP/IP are open and cross-compatible with everything else.

EIP 4883 helps enable interoperability between NFTs

So, in the spirit of enabling interoperability, composability, compatibility in web3 and NFTs, which is central to the web3 Ethos, let’s dive into EIP 4883, for Scalable Vector Graphics NFTs.

EIP 4883 is for the composable SVG (file format) NFTs which will make any NFT asset able to be combined with others.

According to the description from the EIPs website, the goal of EIP-4883 is to allow you to:

“compose an SVG NFT by concatenating the SVG with the rendered SVG of another NFT.”

  • Concatenate means to link (things) together in a chain or series. For example:
    • combining one item or object with another.
    • adding / removing sunglasses from a profile pic NFT
  • What is SVG? → SVG stands for “scalable vector graphics”, referring to a .svg file.
    • the .svg file format is an XML-based vector image format for defining two-dimensional graphics, supporting interactivity and animation.
    • this enables resolution independent images and items.
    • Its important to note that at some point, it will be important that we will be able concatenate 3D file formats as well.
      • I could certainly see a future EIP for concatenating rendered .obj or .fbx files, which are supported by the Unity game engine for example.
future EIP proposal should include 3d images.
fileinfo.com

EIP 4883 seeks to apply the SVG file format to NFTs… allowing SVG NFTs to be rendered in the foreground or a background of an image or metaverse type experience as required. 

This NFT standard would mean all NFTs that use it are composable, so on-chain SVG NFTs can be combined with others.

The SVG NFT is able to be re-sized and scale to the right size as needed. e.g. adding glasses & hat NFTs to a profile pic NFT or a fish NFT to a fish tank NFT.

What does EIP-4883 enable NFT owners?

NFT owners of specific rare traits and accessories could then sell these types of accessories to NFT owners from other collections. 

optipunk items could be broken down into separate NFTs

What if I could split each accessory or attribute apart, and then list just the glasses or the hat while keeping my Punk? 

For example, an Optipunk’s glasses + hat could be split apart from the main NFT, and stored on-chain as associated but distinctly separate NFTs on their own.

These glasses and hat NFTs could then be sold or transferred to someone else, or another profile picture NFT, for example, to a Optichad. 

Essentially, then that other NFT PFP can wear the glasses and the hat:

items could be worn by any other profile pic NFT.

This would mean accessories within web3 could be composable / transferred to someone that owns any other type of NFT even outside the collection.

The SVG allows the item to be seamlessly re-sized in order to form-fit whatever type of character wants to wear it , or object that it needs to be combined with.

Extrapolating forward, it would be awesome if, for example, Fortnite skins that you own could be transferred to other games.

Optimism NFT project with transferrable items

One example of an NFT project that can help us think about the importance of transferability and interoperability is the Loogies, on the Optimism layer 2 network…

Optimistic Loogies or the Fancy Loogies on Quix, accessories can be added to your Loogie. Those accessories are essentially combinatorial, those are composable traits.

optimistic loogies NFT project.

It almost seems like this NFT project was built as a conceptual idea to illustrate the need for something like EIP – 4883. 

However, as of right now, you can’t leverage these assets in any other collection. Ideally we’d be able to trade these assets across any other given collection. 

EIP 4883 would enable you to combine these assets with other collections.

Listen to the podcast

If you want to learn more about crypto, NFTs, dapps, DAOs and more, please check out the latest episode of The Web3 Experience podcast:

How to save gas trading NFTs

If you have ever traded NFTs on Ethereum before, you know that gas fees can be quite expensive, often costing users $20-30 per transaction… and in some cases, much, much more.

THE GOOD NEWS is that once you know how send ETH or buy/sell an NFT on Eth Mainnet, switching over to Optimism is incredibly easy.

Save gas by using Optimism Layer 2 instead of Ethereum Mainnet

In this post, we’re going to compare typical transaction fees on the Ethereum Blockchain, and compare it to the Optimism Layer 2 network.

How Much are Ethereum main-net fees?

Most of us on Mainnet use Opensea or like X2Y2.io

Ethereum Mainnet fees are an order of magnitude (if not more) higher than on Optimism.

As you can see from the summary chart below, in these seven transactions alone, I would have saved over $257 if all of the transactions had occurred on Optimism instead of Mainnet ethereum.

summary of 7 transactions from each network where I paid the most gas. On optimism, I had 114 transactions. On Ethereum mainnet, 56.

Why are people paying such high gas fees when they don’t have to?

There are a few reasons people spend a lot of money on gas fees to use Ethereum Mainnet.

For one, Mainnet Ethereum is where the largest number of users live. Network effects incentivize users to stay on Layer 1 Eth, despite the high gas fees.

SOLUTION: What are the best alternatives to Ethereum Mainnet?

When you decide to purchase an NFT from a collection that leverages a layer 2 network like Optimism or Arbitrum, gas fees are going to be lower.

If you’re a developer / founder, you can even launch your own NFT collection on one of these networks.

My friend Fractal Visions has launched a different NFT project across a variety of networks — its great to see a founder like Fractal with a presence across so many different blockchains!

Fractal calls this “Omni Chain NFTs”, which I think is a great term for it.

What is Optimism Layer 2?

Optimism is a network runs on top of Ethereum, but compresses data so that smart contracts and transactions are cheaper and more efficient.

This means means you will end up paying lower gas fees, while your transactions are still secured by Ethereum.

Vitalik Buterin, who is the founder of Ethereum, has discussed Optimism and Optimistic rollups. in his blog post, from which an excerpt is below.

Vitalik, let me remind you, dropped out of college after receiving the Thiel Fellowship to build Ethereum, went on to successfully found Ethereum, was recently on the cover of Time Magazine, among many other impressive achievements.

source: time.com

The fact that he received the Thiel Fellowship is a big deal… in getting the Thiel Fellowship, he’s basically backed by Peter Thiel who founded Paypal… and given the Paypal Mafia, Vitalik has OG internet entrepreneurs behind him.

In his blog post, Vitalik goes on to say that “in the short term, optimistic rollups are likely to win out for general-purpose EVM computation”.

source: Vitalik.ca

More reasons that the Optimism Network deserves credit

OpenSea has listed the Optimism Goerli Testnet on their testnets website, which is certainly exciting to see.

Its hard to say what exactly this means for the network, however, it looks like OpenSea could be exploring some sort of future functionality with Optimism.

Getting Started on Optimism

If you’ve been using Ethereum Mainnet to buy and sell NFTs for a while, getting started with Optimism will be extremely easy.

The best part? You don’t need to switch wallets!

Optimism Network is embedded within Metamask already. 

Unlike moving over to Solana or Tezos where you need to use a different wallet provider, with OP, its already built on top of Ethereum, so any Ethereum wallet is usually compatible.

How to move funds from Layer 1 Ethereum to Layer 2

Moving funds from Eth Mainnet to Optimism is easy and you can bridge with HOP protocol for less than a dollar.

HOP provides an extremely easy and intuitive user experience to move ETH from Layer 1 to Layer 2.

app.hop.exchange

Top NFT Marketplace on Optimism – Quix

Let’s dig into the NFT marketplace on Optimism where you can buy NFTs. Now called Quix, the company formerly called Quixotic recently changed its name to shorter, more elegant, “Quix”.

Mark, the founder of Quix, joined the Web3 Experience podcast for episode 2. Listen here.

Of every NFT Marktplace I’ve used, I have to say, I think Quix provides the most intuitive and user friendly user experience.

According to DappRadar, Quix is the number 1 marketplace app on the Optimism network.

DappRadar has a few charts about Quix that are helpful to understand the growth of the platform and how usage, volume, and transactions have changed over the last few weeks / months.

Quix usage data from early 2022 through early September. Source: DappRadar

To use Quix, simply connect wallet the same way you would for any other dapp, and make sure you’re on the Optimism Network.

To learn how I use Quix to browse, search, and filter NFT collections and dig into statistics, please find the video below.

Overview of Quix starts at timestamp 11:28.

I really like how easy Quix makes it to stack filters within an NFT collection. This enables users to search for exactly what they want.

The ability to have multiple filter criteria selected at the same time helps you get super specific when shopping for NFTs.

Quix Launchpad

Quix enables people to create and launch their own NFTs on Optimism via the Quix Launchpad.

This can be done by non-technical users that don’t know how to code or write smart contracts.

The launchpad currently supports free to mint NFTs.

Seaport Protocol

Quix uses the Seaport Protocol, which is OpenSea’s back-end for NFT transactions.

The good news is that Seaport is an open-source and decentralized protocol to make buying and selling NFTs easier.

It certainly makes sense to re-use infrastructure components to avoid reinventing the wheel. I think its a great strategy for Quix to leverage Seaport.

L1 to L2 NFT Bridge

There have been talks about an NFT bridge that will enable anyone to bridge an NFT from Ethereum mainnet over to Optimism Layer 2.

Given that interoperability and composability are inherent to the web3 ethos, its certainly exciting to think about an NFT bridge across L1 to L2.

Making NFTs “Omni Chain” would not only mean that the ecosystem would be more inviting to new users, but also that it would expand to users that would never come over to it in the first place, because everything seamlessly works with other networks.

According to Dre in the Quix Discord, it looks like as of 8/17 the L1 – L2 NFT bridge is still in development.

source: Quix Discord server.

How would an L1 to L2 NFT bridge work?

Bridging NFTs from a layer 1 to a layer 2 would have a bit of an interesting architecture.

According the my friend FourPoops, “you lock up value on L1 in a random contract address and create a copy of that value on L2”.

Essentially, the blockchain would lock the contract on L1, and create a transferrable contract on L2, the owner of which would be the only one who has the ability to unlock the Layer 1 NFT.

FourPoops goes on to say that, “if we think about the real world art scene, people lock up the real assets in a vault and only display/transfer copies”…

This is a great comparison between blockchain based art and real-world art. And FourPoops is right.

In traditional art, there are these areas called “freeports”, which enable art collectors to place artworks in tax-free holdings vaults where the contractual ownership of the art can be transferred, while the piece of art itself remains in this tax-free zone.

According to Artsy, freeports provide collectors with “the temporary exemption of taxes for an unlimited quantity of time”.

GitHub post on L1 to Optimism NFT bridge

According to the link below, some people from the Optimism community have been discussing the idea of an NFT bridge from layer 1 to optimism since as early as April of 2022.

https://github.com/ethereum-optimism/optimism/pull/2424

However, it appears as thought this particular Github repository was closed out. My theory is that it was closed by the Optimism ecosystem because they were aware of the work that Quix was doing to build their own NFT bridge, and the two teams did not want to duplicate efforts.

Ultimately, it seems like a great time to launch a bridge. Layer 1 transactions are still quite low, so users can bridge over their assets before gas gets high again. 

This would enable us to move our assets from L1 over during a time when mainnet fees are low, and then house them on Layer 2 where they can later be transferred as needed for much much lower gas fees.

Listen to the podcast

If you want to learn more about crypto, NFTs, dapps, DAOs and more, please check out the latest episode of The Web3 Experience podcast:

How Ethereum proposals work (short)

How do new ideas come to Ethereum ecosystem?

Virtually every protocol and systematic change to the Ethereum ecosystem – from ERC-20 to NFTs and beyond – has emerged from the community.

Step 1: Forum discussion

The forum used by the Ethereum development community is called Fellowship of Ethereum Magicians.

With less than 5,000 active users, this is a website that enables forum-based discussions about ideas for the Ethereum ecosystem, enabling anyone to submit posts and post replies.

The About section of the website is no more than one sentence long, reading: A self-organized Fellowship within the Ethereum community to maximize technical opportunities, share ideas, and work together effectively across national, organizational and other boundaries.

This includes technical standards improvements to token standards and anything else that can benefit the overall Ethereum ecosystem.

Step 2: Good ideas float to the top: official proposals

Ideas and comments with a lot of traction on Fellowship of a Ethereum Magicians end up being converted into what’s known as an Ethereum improvement proposal, posted on a separate website.

These EIP’s end up being pushed to Github where actual development can finally begin.

It is with this process that the Ethereum ecosystem is able to change and improve over time.

This process is very much a community oriented and community developer-based process.

Noteworthy Ethereum Improvement Proposals (EIPs)

EIP-2: Hard Fork

EIP-20: Defining the ERC-20 token standard

EIP-137: Ethereum Name Service (ENS)

EIP-721: Defined the NFT token standard (ERC-721)

EIP-2981: NFT Royalty Standard

EIP-3156: Flash Loans 

EIP-4671: Non-Tradable Tokens Standard

EIP-4973: Account-bound Tokens

Further Reading:

Ethereum Request for Comments (ERCs) Process – https://etherworld.co/ethereum-request-for-comments-ercs-process/

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Most Expensive POAPs Ever Sold

The Proof of Attendance Protocol (aka POAP) is a way to save digital mementos, allowing you to bookmark things you have done in life.

Pronounced poh-app (POAP), the protocol gives attendees a way to keep a record of their attendance for any type of experience – event, conference, meeting, membership – could be anything.

Project leads and hosts often create POAPs for official events that they host with their community. As you can see below, the early POAPs from well-known and respected initiatives tend to be more valuable, symbolizing a type of “OG” status for the early members.

Whether that’s a simple AMA session on Discord or Twitter Spaces, or if its a in-person meetup event – bringing the community together in these types of events can be huge for long term community building.

A POAP can also be a gift from an issuer to collectors, to celebrate a shared memory.

In most cases, mint price for a POAP is completely free – where the user is able to mint one simply by being in attendance at the event. Additionally, gas is normally free as well.

Do you want to create or mint POAPs? First, you need to setup a crypto wallet.

Highest POAP sales as of 2022 (so far)

Sale Price (Eth)POAP NFT
11XCOPY REKT
10XCOPY REKT
7.23XCOPY REKT
7SuperRare OG
7SuperRare OG
5.5Devcon 1
$11,118 USDCHappy 2nd Birthday /r/EthFinance
3YAM Heros
3Beacon Chain Genesis Depositor
2.9SuperRare OG
2.6XCOPY REKT
2.5Alchemix Legends
2Alchemix Legends
2Alchemix Legends
2XCOPY REKT
2XCOPY REKT
1.96XCOPY REKT
1.85XCOPY REKT
1.8XCOPY REKT
1.5Medalla Testnet Resuscitator
1.5Genesis CoinGecko Candy Collector v2
1.5I Played 4 YFI
1.5Fractional Early Adopter
1.025Genesis CoinGecko Candy Collector
1adidas Originals: our future started here
1adidas Originals: our future started here
1Fractional Early Adopter
1EthCC
1ETHParis
1Bankless Member – 2020
1Bankless Member – 2020
1Bankless Member – 2020
1Stoner Cats Moshpit 7.26.2021
1Alchemix Legends
1Inverse Finance Original DAO 409
1Bankless Member – 2020
1ETH2 Studymaster GENESIS
1adidas Originals: our future started here

Bridging crypto between Layer 2 blockchains – not currently supported?

The Problem: Bridge protocols don’t enable users to bridge between Layer 2s

Crypto holders should be able to use their tokens whenever they want, across any set of blockchain networks.

Ethereum gets you security, but it is a very expensive layer. The benefit of Layer 2 networks is that they are more scalable – fees are lower in L2.

Unfortunately, users cannot move funds directly between Layer 2 networks.

Interoperability for tokens among different chains in web3 is a critical technical problem with crypto bridges today.

Bridging between Layer 2 networks is impossible

For example, users can’t go directly from from Optimism to Arbitrum, no matter what bridge they use.

In order to move tokens between these layer 2 networks, users are forced to take a multi-step process, bridging back to Layer 1 from Optimism before moving their funds to Arbitrum.

You can try it to see for yourself.

As shown below, after adding both Arbitrum Network AND Optimism Network to my wallet and going to the Arbitrum Bridge, its clear that the only connection possible is to go between Layer 1 and Layer 2.

arbitrum bridge only enables funds to go from L1 to L2
Aribitrum bridge only recognizes assets available on Layer 1, even though funds are in Optimism on the same connected wallet.

Layer 2 direct jumps don’t exist (yet).

Current Functionality: Bridging from Ethereum to Layer 2 is simple

Bridging from Ethereum Mainnet any one of the Layer 2’s is pretty simple and straightforward.

For example, a user’s first experience exploring the Optimism ecosystem (covered in this post) is pretty straightforward:

The Ethereum –> Optimism bridge allows for funds to be transferred quickly, letting the user get started with dapps like NFTs, DeFi, and more.

Similarly, bridging from Ethereum Mainnet to Arbitrum is pretty easy.

Users use a service like Chainlist to connect to any number of different Layer 2 blockchain networks directly, without manually typing in the network ID and other information.

How to use the Chainlist website, where you can connect to EVM powered Layer 2 networks.
Connect directly to EVM powered networks using Chainlist, without having to manually enter network details into your wallet

Optimism and Arbitrum are just two examples – Chainlist offers hundreds of connectable networks – an overwhelmingly large amount of software to explore.

Improving crypto bridges will reduce fees for users

The fact that a user can’t move funds between two different rollups without sending funds back to Ethereum Mainnet not only makes the user experience more cumbersome, but it means users pay higher fees.

The bridging process requires two additional transactions on Ethereum Mainnet, instead of a single transaction on Layer 2 between networks.

This multi-step process ultimately requires more gas.

At this point, the ability to move funds between layer 2 networks is an aspect of UX that is missing, and is a big gap in crypto.

The ideal UX features simply have not been built out yet.

Poor user experience is the nature of emerging technology

When you are exploring the frontier of emerging technology, some difficulty of use should be expected.

To put things into perspective, this lack of user functionality is part of what makes crypto most exciting.

If the UX was perfect and every blockchain app was easy to use, then crypto would already be mainstream.

When you are using emerging technology before other people, it is going to be clunky and difficult to use.

We are early; blockchain technology still has so much un-realized value. This is part of exploring and seeing tech trends before everyone else.

We Need to Enable Users to Migrate Between Layer 2 Blockchains

The good news, is that interoperability problem currently exists within similarly EVM compatible blockchains.

Because Layer 2 networks share protocols with Ethereum’s foundational Layer 1, the challenge should be solvable.

The Ethereum ecosystem, with the EVM protocol fundamentals, was made for this type of universal compatibility… shared components allowing protocols to integrate.

Axelar Network seeks to solve interoperability

We know its possible. Still, bridging between Layer 2’s is a feature that is not yet present in web3.

One network focused on this is the Axelar Network.

On the recent Zero Knowledge podcast episode, Sergey Gorbunov discussed how to make layer 2 protocols more interoperable.

Sergey shared information about how Axelar is focused on interoperability, making it easy for users to migrate between chains.

He mentioned that by building service layer protocols on top of the core networks, end to end flows between applications will be easy and seamless for users.

This will also enable bridging between Ethereum L2s so that users don’t have to go back to the main chain.

Exploring Optimism Layer 2 Rollup – Low Gas, Airdrop Farming unsuccessfully :(

Before Optimism announced the OP token, the blue birdie on the internet told me about the likelihood of an Optimism airdrop.

Apparently rumors were circulating during ETH Amsterdam, and airdrops are nothing new – if you’re in the right place at the right time, web3 users can cash in on airdrops.

For example, the LooksRare airdrop sent OpenSea users LOOKS token for free as long as they traded over 3 ETH in volume worth of NFTs.

And although the 3 ETH limit for the LOOKS airdrop was a bit much, I was feeling optimistic for the imminent Optimism airdrop.

How to Bridge to Optimism from Ethereum Mainnet

Once you’ve setup your own crypto wallet, sending funds over to Optimism is actually super easy, and will probably cost you less in transaction fees than you pay in fees on OpenSea when you purchase an NFT.

I think I payed between $12-20 in gas to bridge over, having recently done so Ethereum to Optimism on three separate occasions.

how to use the optimism bridge
Optimism Bridge user interface

One of the best parts about Optimism?

LOW GAS FEES.

While Ethereum Mainnet is like driving through traffic in the middle of a big city at rush hour – and overwhelmed with top-tier NFT projects sparking gas wars among hundreds of thousands of users – Optimism is your chill, quiet vacation getaway in the mountains.

In 2022, there are definitely fewer users in the Optimism ecosystem, but with the number of new entrants to web3 that could certainly change.

Optimism borrows all the good from Ethereum and makes it even better

Optimism is EVM-compatible, which means that the software was built on all of Ethereum’s same protocols

Because of this, transactions share security and decentralization features with Ethereum, while also using complicated new types of cryptography that enable the system to “scale”.

  • Scalability means that more people can use the blockchain network at the same time without gas going super high.

Even though Optimism transactions do use Ethereum, the system is more efficient with blockchain data, allowing many more people to do use the network at once.

With Ethereum as a foundation, Optimism allows users to benefit from the good of Ethereum while also enabling efficient scaling.

This helps users experience lower transactions fees.

OP token is a sure thing, but airdrops are not

With the Optimism announcement published a few days ago, I’m sad to say I’m zero for two on airdrops recently.

To be honest, the Optimism airdrop criteria was pretty difficult to meet.

The team was smart and they made it about more than just bridging a small amount of ETH over once and then getting a free airdrop in your wallet.

The criteria were pretty specific including using Optimism for the first time before June 2021, among other possible criteria.

That’s a long way of saying, the team was thoughtful in the approach.

They made it difficult for a mere degen to gain access to OP tokens this early, and rightly so.

Losing on airdrops, winning on Optimism NFTs

Having bridged over a small amount of ETH, I started to explore some of the different dapps that exist on the Optimism network.

The Optimism website has a section dedicated to different applications that are built on top of their network.

The “Ecosystem” includes a number of apps from Defi to Gaming, as well as NFTs.

Naturally, the first thing that stood out were the NFTs…. if the network is growing, why not try and get in on the ground floor?

optimism ecosystem - dapps, NFTs, optipunks
Optimism ecosystem. What would you try first?

Quixotic is the name of the website marketplace where you can buy and sell NFTs on the Optimism Network. Its the OpenSea equivalent, but on Optimism.

Quixotic proved to be surprisingly user friendly… I managed to buy into an NFT project before I actually realized that it was STILL MINTING!

Yep, the Optimistic Apes were barely halfway through the 2300 round of minting, when I turned up and minted 7 of them, plus that one from secondary.

This is Optimism – we’re not Bored Apes, we’re Optimistic Apes

Optimistic Ape collection on Quixotic by espresso

While OptiPunks are a literal 1-to-1 duplicate of all 10,000 CryptoPunks, the Optimistic Apes do a few things differently.

For one, they support Public Goods funding on the ecosystem, which means founders will be encouraged to build within the Optimism Network.

Featuring a collection size of only 2300, far fewer than the standard NFT project, the artwork of the Optimistic Apes also feels more grungy than the Bored Apes – lots of hoodies, hats, and cigars.

The art itself has a bit of a pencil-sketched cartoony look, however, the artist is for now unknown, according to a post from Chief Ape in the Optimistic Punks Discord chat.

Are Optimism NFTs unoriginal?

Even if the Optimistic Apes NFT project has taken steps to distinguish themselves, you have to wonder why the top two NFT projects on Optimism just so happen to be called OptiPunks and Optimistic Apes…

Are we copy-catting the two biggest blue-chip NFT projects on Ethereum?

Given that the OptiPunks leverage exactly the same characters as CryptoPunks, but with a fading red background, it sure feels like some sort of precedent has been set.

Still, they sell!

quixotic demand for NFTs - statistics of April 29 2022

Demand for NFTs on Quixotic has skyrocketed over the last few days.

Given the large flood of users moving over to Optimism and bridging funds, no doubt the Quixotic website has been getting a lot of hits.

Yet the Quixotic server has stayed up and running smoothly.

No surprise that the top NFT projects on Optimism are enjoying the buzz as well.

When will the hype arrive to Optimism?

All this talk of missed airdrops and under-hyped NFTs makes you wonder…

Is Optimism simply lacking hype, or is it just that the hype hasn’t arrived yet?

The small amount of hype getting started makes you wonder if its temporary or slowly growing.

Is Optimism just cheap, layer 2 rip-off copy of Ethereum, or simply a sweet, slower paced, lower fee pet turtle?

OptiTurtle?

In web3, the key is to get in early

Getting involved a growing ecosystem early is the one of the best ways to have a big impact.

  • 2012 it was Bitcoin
  • 2017 it was Ethereum
  • 2021 it was Bored Ape Yacht Club

In 2022 could it be…. Optimism?

We are in the Blockchain Era for Layer 2 Rollups

In crypto and web3, trying and using stuff is the best way to gain experience and learn.

My goal this year is to explore the layer 2 ecosystem, find the best dapps, and increase my chances of finding a silver spoon carrying a golden goose egg.

This blog as well as Twitter will be a a place for sharing thoughts and learnings about web3, layer 2 rollups, and the broad crypto ecosystem.

Reach out – DM’s open!

The Case Against Bots: 3 Reasons Bots Ruin Play-To-Own Games

How Do We Prevent Players from Using Bots in Sunflower Land?

When players use bots in an ecosystem like Sunflower Land, the game loses value at its core. 

If assets and progression in the game can be attained without a person actually playing it, then those bot-users gain an unfair advantage over the other players. 

The people who don’t use bots will get discouraged and frustrated having spent real time playing and advancing their farms, while another group of players was able to achieve a greater level.

When people don’t play the game for the sake of playing it, the game loses its appeal to players. 

Once the game is no longer fun for these formerly engaged players, the community surrounding the game starts to dissipate. 

Its difficult for game devs to identify people using bots

It is hard for even the most technical developers to understand how many players have implemented bots to play for them.

It is a challenging technical problem that involves reviewing website log data, among other techniques.

Fortunately, the game developers of Sunflower Land have implemented strict no bot policies in the game. 

Additionally, the mobile version of the game is playable on an app like Metamask using the dapp browser… you just need a crypto wallet.

While the SFL developers have stated that this is strictly against the rules and you will get banned if you try to do this, there is a chance that some people are using bots in a way that is undetectable from the game developers noticing. 

People that use bots get blacklisted, which marks out your Farm NFT with a red X as shown in the image. Don’t be one of those people!

Good work to the SFL team for keeping the community strong and free of bots!

blacklisted and banned farms in sunflower land
blacklisted / banned farms in Sunflower Land