Celo L2 mainnet scheduled for end of month, alongside foray into Superchain
Optimism Weekly Overview - March 11, 2025
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Superchain Ecosystem Numbers
DeFi total value locked (TVL) across Superchain: $3.6B (-10%)
Assets onchain: $16.5B (-12.23%)
Daily average transaction volume: 11.3M (+1.8%)
Base: 7.7M
Soneium: 974.2K (+17.03%)
OP Mainnet: 931.4K (-6.86%)
World: 666.5K (-5.0%)
Unichain: 239.1K (-4.28%)
Zora: 113 (+1.8%)
OP Mainnet: 1190 (-1.16%)
Superchain transaction fee total savings vs L1s:
OP Mainnet: 4,401 ETH
Base: 24,954 ETH
Zora: 62 ETH
Compared to Ethereum, L2 Superchain users saved a total of 29.4K ETH, or $56.87M on txn fees this week.
The percentages and metrics are pulled from the Superchain Health Dashboard and are calculated from its change over a 7-day time frame, unless noted otherwise.
Spotlight on Optimism’s Superchain
Highlighting some of the biggest updates on Optimism’s Superchain this week.
🔴What’s happening: Celo announced its transition from an independent layer-1 blockchain to an Ethereum layer-2, taking steps toward joining the Superchain. Its L2 mainnet activation is scheduled for March 26, 2025.
🔴Why it matters: The upgrade is intended to reduce block time from 5 seconds to 1 second, while preserving the chain's full history since 2020. This can create a better user experience with faster transaction confirmations.
As a part of the Ethereum ecosystem, Celo can gain greater composability with other protocols and access to a variety of developer tools. This supports the vision of a more unified blockchain ecosystem that reduces fragmentation and preserves innovation.
Through this transition, Celo gains Ethereum's security benefits and still keeps core features like stablecoin economy, gas fee abstraction and mobile first user experiences. The transition uses a hard fork approach that keeps all existing transactions and accounts intact with only full nodes having to upgrade. This means Celo users and developers could have an easier transition to the new L2 framework with high transparency and minimized disruption.
Celo is using the OP Stack and EigenDA for data availability, which also allows it to reduce technical complexity by removing 365,000 lines of code. This makes the network more agile for future changes and innovation, while still maintaining its ethos of financial inclusion and building a regenerative economy.
🔴What it means for the broader ecosystem: Celo's transition can set a precedent for other independent blockchains that are considering a similar network upgrade. This is a pragmatic approach to blockchain scaling that prioritizes interoperability, security, and developer experience over having a siloed and autonomous L1.
After the migration, Celo will focus on improving fraud-proof systems, refining user exit mechanisms and strengthening governance structures. These efforts can help to improve the network’s security and user experiences. Celo’s alignment with Ethereum's L2 roadmap positions it to effectively scale, especially as the upcoming Pectra upgrade is set to go live on mainnet this year.
For the Superchain ecosystem, Ethereum's network effects can help integrate Celo better in the future of cross-chain interoperability.
What’s poppin’ on the Superchain
Total number of weekly active addresses by chain:
Base: 6.31M
OP Mainnet: 388.9K
Soneium: 295.47K
Mint: 163.4K
Ink: 141.42K
Base is available on Deblock for buying, selling and swapping ERC20 tokens
Lisk integrated with Swyptio to expand stablecoin access in Africa
World announced World Chat, a mini app that allows users to chat and send crypto on the World Network
Stargate Finance hit $155.84M in TVL on Base, an all-time high, DefiLlama data shows
From the Optimism Collective
Highlighting the companies, communities and citizens bound to the Optimism Collective.
Learn about the governance proposal to allow the Optimism Foundation to stake Sequencer ETH
Velodrome is live on Unichain to support cross-chain voting and DEX tokenomics for the network
Learn about Mint’s utility token that uses the SuperchainERC20 token standard
Get into the OP Stack
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.
Is this the CELO that was mentioned by the World Economic Forum a couple years ago?