A DAY OF FRUSTRATION - TESTING ETH LAYER 2
I spent all day yesterday researching more eth later2 options.. joined all the discord groups.. chatted to the developers to try and get to the bottom of issues.
And a few have real pain points.. it cost me a bit of cash to test em all.. but worth it. Because I don’t think you can figure out the pain points of any of these without testing em.. and more importantly.. the problem with using things lime solana a side chains for ethereum.. and that’s basically how the are used.
Most of these upcoming chains act like side chains for eth :- .. sol.. avax..flow.. Ada.. all of em have one thing in common.
The main issue :-
If you want to buy something that’s on a dex on ‘polygon’.. you have to buy a bit of polygon to pay for transaction fees.
If you want to buy something on a dex on solana.. you have to buy a bit of solana to pay for transaction fees…
if you want To buy something on a dex on ‘Binance smart chain’… you have to buy a bit of bsc to pay for transaction fees.
And so on…
The issue is.. none of these side chains have everything you want.. and so you have to visit each one to get the token you want. This means buying a 2nd token on top of the one you want.. just to get it.
And you can end up with a dozen or more of these extra tokens you don’t want.. that you bought just to pay fees.
If you could just pay everything with ethereum.. it would solve this problem.
There is a solution.. just released.
It’s built into uniswap.. but Still an alpha release… Optimism
No token needed.. just move to layer2.. and pay a few cents to use uniswap.
We’re about to see some serious liquidity drives and yield farming to get people to provide liquidity on layer2 uniswap. Which means some 500% + yield farming rewards.
The key thing.. it’s as secure as eth,layer1 and you pay all fees in eth. No need for another currency.
And it’s super fast.. just a second to complete a trade.
Yesterday. I kept moving things onto other chains.. had to buy native tokens.. only to find there was none of what I went to buy on these chains .. it’s very frustrating right now. So.. I’ve expecting this to bring everything together.
You could say I’m ‘optimistic’ about uniswap + optimism making layer2 cheaper and less complex.