Base Mainnet Connects with Pheasant
Greetings, Pheasant Community!
The highly anticipated Base Mainnet is officially live. In tandem with this exciting news, Pheasant Network is thrilled to announce our completion of a new integration with this freshly released network!
Prior to this major launch, we had already integrated Base’s testnet, introduced in February, into our expanding ecosystem, showcasing our early support for the project. Now Pheasant users can easily transfer their assets between Ethereum and Base Mainnet securely, swiftly, and cost-effectively. To explore the burgeoning ecosystem, home to over 100 dapps, simply head to our app and connect your wallet. Transferring your tokens from Ethereum is just minutes away!
L2 Network Incubated by Coinbase
Following the developer-only release in July, Base opened its Mainnet to the general public in early August. Today, just a couple of months post-launch, this promising L2 network ranks among the top three most active projects by TVL, with over $500 million locked on the protocol, according to data from L2BEAT.
Incubated and developed by Coinbase, one of the largest crypto exchanges worldwide, Base is an optimistic rollup, designed to offer the security of Ethereum with enhanced efficiency and transaction speed, all at an affordable cost.
The powerhouse behind this industry-leading L2 network is the OP stack—an open-source, modular development stack built by Optimism, another major player in the Layer 2 scene. The OP stack isn’t just another dev-kit for building chains or rollups—it serves as the bedrock of the “Superchain,” a concept proposed by the Optimism team that envisions connecting multiple chains with high interoperability. The ambitions of the Superchain extend beyond establishing a multi-chain network; it aims for unparalleled interoperability, with its constituent chains and rollups sharing foundational functionalities, including bridging mechanisms, decentralized governance, upgrades, communication layers, and more.
Base represents the second network to be incorporated into the Superchain, following the Optimism rollup, and stands as the first OP-stack-based rollup integrated with Pheasant Network. As momentum builds for the Superchain, we at Pheasant are poised and enthusiastic to welcome more chains from the Superchain ecosystem, aligning our efforts to foster a future of enhanced interoperability for Ethereum.
L2 Summer Isn’t Over
Even though we’ve entered Autumn, the heat for Layer 2 projects hasn’t shown any signs of cooling down. A myriad of products and services are being launched and developed daily. As a bridge project, Pheasant Network is thrilled to take a leading role in shaping Ethereum’s more seamlessly intertwined ecosystem. We have more announcements in the pipeline. Make sure you’re following us on Twitter, Discord, and blog to catch all the latest updates!
About Optimistic Bridges
Optimistic bridges, inspired by the design of optimistic rollups, allow users to transfer tokens from one chain to another in an “optimistic” manner. Optimistic transfers mean that the protocol does not require Ethereum to verify all of the bridge transactions but checks only fraudulent-looking ones. This mechanism is similar to how optimistic rollups work, where the protocol approves all transactions executed on Layer 2 by default and triggers the verification process on the Layer 1 level only when something suspicious is found. This structure leads to a drastic cut in gas fees and a higher degree of decentralization, enhancing the scalability and interoperability of the Ethereum ecosystem.
About Pheasant Network
Pheasant Network is an optimistic bridge network inspired by the idea of optimistic rollups. We aim to bring the concept to bridge architecture to address Ethereum’s interoperability challenges as well as scalability issues. Our robust security system and cost-effective design enable cheaper and faster asset transfers between Ethereum and Layer 2 networks while ensuring security and decentralization. We believe that optimistic solutions are the answer to future bridge development.