Binance To Launch opBNB Layer 2 Network
The leading centralised cryptocurrency exchange, Binance, is getting ready to introduce opBNB, a Layer 2 scaling solution intended to greatly increase the throughput of its Layer 1 smart contract platform, BNB Chain.
On August 10, Binance declared that it would launch opBNB on the mainnet this month, which indicates that the launch will occur in the next two weeks or so. On June 19, Binance simultaneously launched its testnet and unveiled opBNB.
Binance launched a “Odyssey” promotional campaign on Aug. 9, offering early adopters opBNB Genesis NFTs and a $50,000 prize pool. Users must carry out tasks like bridging assets between the opBNB and BNB Chain testnets and minting their own NFT using opBNBScan. The NFTs provide advantages and utility to holders. opBNB is built on Optimism’s OP Stack, launching customized Layer 2s. The launch follows a long-term decline in BNB Chain’s total value locked (TVL) and market share.
(With inputs from Shikha Singh)
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