- The support provides enhanced trading functionality, reduced transaction costs
- Oasis now offers the option to utilize Aave v3 Multiply on the network
Leading decentralized platform Oasis.app has announced its launch on Layer 2, a scaling solution for the Ethereum Mainnet, Bankless Times learned from a press release. This enables Oasis to leverage the benefits of Layer 2 protocols.
Exponentially reduced transaction costs
The support provides users with enhanced trading functionality, reduced transaction costs by up to 42 times using Oasis Multiply on Optimism, and improved scalability. Layer 2 solutions alleviate the congestion on the Ethereum Mainnet, enabling a seamless and efficient trading experience even during peak periods.
Other user benefits include one-click multiply functionality with cheaper transactions. This means that users will engage in leverage-like trading while paying lower fees.
Aave v3 can be used on the network
Oasis now offers the option to utilize Aave v3 Multiply on that network. The Oasis Multiply feature, built on top of Aave v3, uses a set of smart contracts on Optimism and Ethereum. These contracts enable users to execute transactions seamlessly, going from a multiple factor of 1 to 3 in a single transaction.
Oasis Multiply facilitates this process by utilizing flash loans from Balancer on Optimism. This innovative approach provides users with a convenient and efficient trading experience, combining functionality with cost savings and security options.
Oasis CEO Chris Bradbury said:
At Oasis, we see this launch of L2 support as a key step in dramatically improving the UX and accessibility of DeFi protocols and strategies. This strategic move allows us to address the growing demand for enhanced trading functionality while significantly reducing transaction costs. Our users can now enjoy a seamless and cost-effective trading experience, unlocking new opportunities in decentralized finance.
This integration marks a significant milestone in DeFi as Oasis joins the ranks of other major players that have recognized the potential of scaling solutions. The move demonstrates Oasis's commitment to delivering the best user experience and further solidifies its position as a leader in the DeFi sector.
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