The team at TwoX Protocol, which claims to be a decentralized finance protocol issuing yield generative stablecoin, is pleased to announce that TwoX protocol will be “launched on Arbitrum.”
Their team have been “researching & discussing which infrastructure is great fit to deploy TwoX primarily since last couple of weeks.” As Ethereum being a DeFi native blockchain infrastructure, they previously planned “to use its truly decentralized network to deploy their contract.”
However, following their team’s disagreement “to be on Ethereum specifically and not benefiting with high performance layer 2 scalers is acknowledged.”
They are now mutually agreed and have come to the conclusion “to launch separately for both the platforms.” Arbitrum is among their first choice layer 2 and it is “providing developer friendly environment.”
TwoX is going live on testnet within the next month, according to a blog post. Throughout this time period, the team will be “testing smart contracts, and preparing for technical documentation.” Note that they have still “not released web or community channels except Twitter only.”
They have planned to open their Discord server “for early contributors with private access, and it shall be announced in a week.”
As covered, Arbitrum’s suite of blockchain scaling solutions “provides faster speeds at a significantly lower cost, with the same level of security as Ethereum.”
After years of development and nearly 18 months running on mainnet, the Arbitrum Foundation announced last month the launch of DAO governance for the Arbitrum One and Arbitrum Nova networks, “a massive leap forward in the decentralization of the two networks.”
The future of Arbitrum “belongs to the DAO community,” the developers claim while noting that their recent decentralization milestone is important, as well as “the role of the $ARB token for enabling community-driven DAO governance.”
As noted in a blog post, the guiding mission “when building Arbitrum has always been to securely scale Ethereum, and this security-first mindset is the guiding force behind decentralizing the chain as security and decentralization are closely intertwined.”
Building a secure and decentralized L2 “requires removing any centralized points of chain control so that the chain can operate [in a trustless manner].”
For more details, check here.
