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DeFi platform MakerDAO aims to integrate Ethereum layer 2 solution StarkNet to reduce transaction costs and increase the speed of DAI stablecoin transfers. Reported by The Block. “Cost-wise,
DeFi platform MakerDAO aims to integrate Ethereum layer 2 solution StarkNet to reduce transaction costs and increase the speed of DAI stablecoin transfers. Reported by The Block.
“Cost-wise, this will be about a 10x improvement over Ethereum,” said StarkNet project coordinator Louis Beaudoin.
Regarding speed, he noted that the processing time of transactions made by the protocol is one to two minutes. During 2023, the team plans to reduce this figure to a few seconds.
StarkNet integration will begin on April 28 and will take place in four phases. Beaudoin said the fully multi-collateralized stablecoin DAI (MCD) will be deployed on StarkNet in late 2022 or early next year.
MakerDAO already supports two L2 protocols – Arbitrum and Optimism. Both networks use Optimistic Aggregation scaling technology. StarkNet is based on the ZK-Rollups solution.
According to Beaudoin, as part of its multi-chain strategy, MakerDAO aims to integrate “most of the Ethereum second-layer networks and some key L1 blockchains” in the future.
Recall that in February, the market supply of DAI crossed the 10 billion coins mark.
Source: Fork Log
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