Resonate Announces Support for Arbitrum
Happy to announce that we’ll be deploying Resonate onto Arbitrum and working with the fine folks building this compelling new L2!
Why Arbitrum?
Arbitrum has been at the forefront of L2 development and has established a diverse community to suit. The next genesis of DeFi will take place on L2s, so it essential Resonate establishes a presence on what is currently the largest scaling solution by capitalization — Arbitrum, which has accumulated over $2.49B in TVL at the time of writing.
What is Arbitrum?
Arbitrum is a L2 solution designed to improve the capabilities of Ethereum smart contracts — boosting their speed and scalability, while adding in additional privacy features.
The platform is designed to allow developers to easily run unmodified EVM contracts and Ethereum transactions on a second layer, while still benefiting from the underlying L1s security.
It’s built to address some of the shortcomings of current Ethereum-based smart contracts — such as poor efficiency and high execution costs — which have damaged the Ethereum user experience and frequently make transacting an expensive task.
How does Arbitrum work?
Arbitrum uses a technique known as transaction rollups to record batches of submitted transactions on the Ethereum main chain, and execute them on a cheap, scalable layer 2 sidechain while leveraging Ethereum to ensure correct results. This process helps to offload most of the computational and storage burden Ethereum currently suffers from, while enabling new classes of powerful layer 2-based DApps
What’s to come?
Arbitrum network integration 🏁
Resonate listed on Arbitrum Ecosystem Portal 🏁
More partnerships & integrations! ⏳
To learn more about Arbitrum
Website | Twitter | Discord | Docs
About Resonate
Resonate is a Yield Futures Protocol developed by Revest Finance and built on top of Revest’s Financial NFT (FNFT) technology. Using Resonate, we’re able to separate the principal and interest components of a position by issuing two FNFTs; one containing the principal and the other containing the rights to future interest on that principal. Resonate facilitates the commerce of the rights to future interest by matching issuers (who want to sell their interest rights for a one-time upfront payment), and purchasers (who want to buy the rights to future interest for a one-time upfront payment).
About Revest Finance
The Revest Protocol offers a revolutionary new use of NFTs as financial tools through the Financial Non-Fungible Token (FNFT). Individual and enterprise-level users can deposit any ERC-20 or ERC-721 into Revest’s interactive FNFTs and set custom unlocking conditions (time, value, or contract-based). Revest allows the tokenization of all non-fungible financial positions with non-fungible tokens. This simple turn-key solution offers elegant applications ranging from token vesting to cutting-edge implications for derivative and borrowing/lending platforms. Revest’s flagship product, Resonate, is underpinned, fundamentally, by this innovative technology.