With the launch of Clipper’s Optimism integration, Clipper users can now experience the Ethereum they know and love, at lower cost and lightning speed!
Clipper’s Optimism Community Liquidity Program (CLP)
Clipper will be rolling out a new CLP for Optimism liquidity providers. To be eligible to deposit you will need to follow these steps:
- Join Clipper’s Discord and complete verification.
- Join Optimism's Discord and complete verification.
- Go to clipper.exchange/events
- Log in with your Discord in order to verify you're on both servers.
- Once you pass verification, you can connect your wallet.
- You're whitelisted and able to deposit up to $5,000 with a lockup period. Please note, you may have to disconnect and reconnect your wallet before depositing into the CLP.
What is Optimism?
Optimism is an Ethereum layer two (L2) scaling solution that uses optimistic rollups to achieve far lower fees, far lower latency, and far greater throughput versus simply using the Ethereum mainnet. This is accomplished by processing all transaction data on-chain while running computations off-chain, instead of running all computation and data through the Ethereum network. Optimism is currently ranked as the fourth largest Ethereum L2 in terms of total value locked, and an increasing number of prominent DeFi protocols are now choosing to deploy on the network.
We customized Clipper for Optimism!
Optimism is different from Polygon because it's not an entirely separate chain. Rather, it anchors its data back to Ethereum. That means every transaction on Optimism has a small fee in Ethereum which goes to the Ethereum network. Basically, the existence of the transaction on Optimism is recorded on Ethereum. This happens by recording the input calldata of every transaction on Optimism. Of course, gas is very expensive on Ethereum and so a transaction with bloated calldata could cost several dollars, even on Optimism. Clipper is laser focused on retail traders, which means minimizing costs is very important! A few dollars can make a big difference on a small trade. To handle this, we didn’t just copy and paste Clipper’s contracts from Polygon to Optimism. Instead, we wrote custom methods that used compressed calldata - reducing Clipper transaction costs by about 50%. This will help Clipper have by far the best prices for small trades on Optimism. We suggest other protocols and forks do this as well if they care about their users.
We will continue to spin up new ways for you to swap within a seamless and cost-effective trading environment.