Optimism (OP-USD) is reshaping Ethereum’s (ETH-USD) scalability with significant updates to the OP Stack, a versatile codebase that supports Layer 2 (L2) and emerging Layer 3 (L3) frameworks. For the broader cryptocurrency space, the updates could be dramatic if implemented properly and adopted by other stakeholders.
Expanding the Superchain and L3 Innovations
The Superchain is morphing into a network of chains that utilize a shared tech stack. As a result, part of their revenue is shared with Optimism Collective. New entrants and L3s built using the OP Stack now gain access to a suite of benefits akin to those enjoyed by L2s, such as Retro Funding, Airdrops, and grant programs. Although these chains might deviate slightly in their setup, affecting interoperability features, the drive to build on the OP Stack is gaining momentum.
The demand for flexible, customizable tech is rising as the ecosystem matures. L3s offer a cost-effective avenue for developers and blockchain enthusiasts to forge their paths within the Superchain, demonstrated by Base’s significant expansion in L3 support. This development is powering the growth of the L3 ecosystem, with more developers leveraging the OP Stack.
Additionally, custom gas tokens are set to roll out among the top features in demand. These tokens enable developers to use an L2 token as the native gas for an L3, streamlining the transition for users and lowering entry costs.
Wait, What?
Alright, imagine the Superchain as a big county fair where all the different booths and rides use the same type of equipment and supplies to set up—that’s what we mean by a “shared tech stack.”
Now, whenever these booths and rides earn some money, a part of their earnings is shared with a group called the Optimism Collective. Think of it like each booth contributing some of their ticket sales to help keep the entire fair running smoothly.
New attractions at the fair, which we call L3s, are like fresh games or food stands that use the same equipment as the older booths (L2s). When these new attractions are built, they get special benefits like funding to help start up, prizes for guests (airdrops), and extra support to make them as great as the older ones.
Even though these new booths might be set up a bit differently, which might make them not fit perfectly with all the other attractions (that’s the interoperability features they mention), the idea of adding more attractions using the same setup is becoming more popular.
As the fair gets bigger and more people come to visit, more and more booths are popping up. This growth of new booths, or the L3 ecosystem, shows how many people are excited to be a part of this fair.
Also, there’s an exciting new feature coming—custom gas tokens. These are like special tickets that let you enjoy any ride or game at the fair without needing to get a different ticket each time. It makes it much simpler and cheaper for guests to have fun at the fair.
Cost Reduction and Future Outlook
Plasma Mode is another innovation aimed at cost reduction. It allows L3s to submit data less frequently and operate more cheaply than L2s. This development is key for developers aiming to deploy high-throughput applications efficiently.
As L3s increasingly become vital parts of the Superchain, they diversify its ecosystem and expand its capability to cater to a broader range of development needs. The Superchain is positioned as a fertile environment for Web3 developers, offering various deployment options—from existing OP Stack Chains to new networks or partnerships.
Let’s stick with our county fair analogy. Think of Plasma Mode as a new kind of system at the fair that lets booths and rides send their information back to the main office less often. This means they can run with fewer expenses, similar to how a booth might save money if they don’t have to hire as many helpers. This setup is especially good for big, busy games or food stands that have lots of visitors but want to keep costs low.
As more of these new types of booths (L3s) pop up, they make the fair more interesting and diverse. They bring different games and food options, which means more people can find something they like. This diversity helps the fair grow bigger and cater to more visitors with different tastes and interests.
The Superchain fair is becoming a great place for people who want to set up their own booths (Web3 developers). They have many choices on how to set up their attractions—whether they use the standard tools and supplies from existing setups (OP Stack Chains) or try something new by partnering with others. This makes it a really inviting and flexible place for all kinds of booth builders.
Is Optimism a Buy?
According to TipRanks’ Summary of Technical Indicators, Optimusm is a Sell.
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