A DeFi-focused data analytics company, “DeFiLlama,” has introduced LlamaZip (a router developed for Uniswap v3 on Ethereum layer-2 named Optimism. A tweet was recently shared by the team on the platform. It noted that the latest project substantially minimizes gas costs in comparison with the rest of the decentralized exchange aggregators.
DeFiLlama Introduces Unique Router Specified for Unixwap v3 on Optimism
In the Twitter post, it was mentioned that the respective router is particularly optimized to have compatibility with Optimism. According to the tweet, the people using LlamaZip will have the benefit of up to 7.8x cost-effective swapping with the use of the 1inch Network.
The respective network is a well-known multichain decentralized exchange aggregator operating on BNB Smart Chain (BSC) and Ethereum.
In the words of Oxngmi, the new router has been developed as a response to a structural modification in Optimism. A significant position has been occupied by Optimism among the top L2 platforms running on Ethereum. It pushes transfers off-chain, providing relief to the mainnet. That is how Optimism can perform scaling and offer a considerable reduction in gas costs.
Smart contracts’ transfer, as well as the deployment on the Ethereum mainnet, is many times more costly as compared with the L2 forums, and Optimism has a great position among the top L2 protocols. Those decentralized-exchange aggregators, which are responsible for the integration of several decentralized exchanges, are structured to offer the finest swapping rates.
Nonetheless, they installed the same contract on all of the incorporated chains. Due to the vulnerabilities of the gas fees, the optimization of their smart contracts is done to minimize the transaction charges. This is irrespective of the blockchain on which the block space-based storage is usually costly, while smart contract-related call data is cost-effective.
But, the case of Optimism is the other way around, and it also has some distinctive roll-up solutions. In this respect, the storage space is cost-effective while considerable cost is consumed on call data. The issue is that the present DEX aggregators keep on endeavoring to make optimizations for gas charges also on Optimism. However not related to call data.
The developers operating on LlamaZip have detected this vulnerability as well as optimized the smart contracts. This was focused on decreasing call data charges in a scenario where the gas charges are comparatively low.
The unique router, particularly for Optimism-based Uniswap v3, will provide a lot of assistance in compressing the call data to as decreased level as possible. As a consequence, costs will potentially decline to a great extent.
In addition to this, the consumers will witness a huge cost reduction in the case of swaps. The users who specifically utilize a DEX aggregator named Meta-Aggregator, are anticipated to be the major beneficiaries in this respect. At the moment, LlamaZip operates on high-volume pairs running on Optimism-based Uniswap v3.
Additionally, the team has disclosed that it will maintain progressive slippage. DEX aggregators have a crucial role in providing the finest rates to consumers. Nonetheless, recent months have witnessed an enormous downturn in the DeFi activity chiefly due to 2022’s lengthened bear market.
Arbitrum Outcompetes Ethereum in 24-Hour Transactions
As consumers are still sensitive in the case of fees while developers are demanding improved scalability, L2-based operations have been gaining momentum. A few days back, an L2 solution, Arbitrum, witnessed more transfers than Ethereum in 24 hours for the first time.