In a significant stride towards innovation, DeBank, the prominent DeFi blockchain explorer platform, has introduced DeBank Chain, a cutting-edge layer-2 blockchain established on Optimism’s OP Stack.
DeBank Chain: Paving the Way for a Social Asset Layer
DeBank Chain, hailed as a pioneering “asset layer for social,” stands as a testament to the potential of optimistic rollups, with the remarkable claim of slashing “L1 data storage gas cost by 100 to 400 times.” The bedrock of this advancement lies in the OP Stack, a foundational blockchain development standard devised by the accomplished Optimism team, which serves as a fertile ground for the inception of novel layer-2 blockchains.
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We're excited to announce DeBank Chain, aiming to become the Asset Layer for Social!
We're launching the Testnet today and it's planned to roll out the Mainnet in 2024. pic.twitter.com/Do1hwJtPGj
— DeBank (@DeBankDeFi) August 11, 2023
Expanding Horizons: DeBank’s Vision
Having etched its presence as a DeFi portfolio visualization and blockchain explorer platform for Ethereum and its EVM-compatible counterparts, DeBank has unveiled its ambitions for growth. Marking the commencement of this expansion, the testnet for its layer-2 network has been inaugurated, paving the way for the eagerly anticipated Mainnet launch in 2024.
A Glimpse into DeBank’s Social Media Endeavors
In a landmark move back in October 2022, DeBank introduced an Ethereum L2 to facilitate the inception of DeBank Hi, an integrated chat application nestled within its existing wallet tracking ecosystem. This dynamic platform provides incentives to users for receiving messages, effectively cultivating what can be termed as a thriving “attention market.”
DeBank’s Ethereum layer-2 network boasts an impressive user base exceeding 200,000 registered members, as validated by a comprehensive Dune dashboard analysis courtesy of Stakeridoo.
Transforming Communication into Rewarding Contributions
With a visionary outlook, the DeBank team is poised to elevate DeBank Hi from a mere messaging tool to a robust social media platform known as DeBank Stream. This ambitious platform holds the promise of rewarding users for their “valuable contributions” within its virtual realm.
Central to this platform’s ethos is the evaluation of a user’s “precise attention value” predicated on their interactions across various social media channels. This innovative approach seeks to quantify the significance of every minute invested, every post shared or read, and every insightful comment provided by the user.
Looking Ahead: Seeking Insights from DeBank
As industry observers and enthusiasts eagerly anticipate the unfolding of these developments, Decrypt has initiated communication with DeBank to garner insights directly from the source.
Expanding the Landscape: The OP Stack’s Momentum
The impact of DeBank’s introduction of DeBank Chain on Optimism’s OP Stack is palpable. This powerful momentum resonates throughout the blockchain domain, with the inclusion of notable counterparts such as Coinbase’s Base, the Magi Protocol supported by Andreessen Horowitz, and BNB Chain associated with Binance. Notably, the latter embarked on its journey by launching a testnet underpinned by the same standardized principles on June 19, 2023.
In conclusion, DeBank’s unveiling of DeBank Chain on the backbone of Optimism’s OP Stack marks a momentous stride towards the future of blockchain evolution. As the DeFi landscape continues to evolve, DeBank’s innovative initiatives stand as a beacon of progress, fostering enhanced scalability, efficiency, and engagement within the blockchain ecosystem.
