In anticipation of the FOAM Proof of Location MVP launching onchain, the FOAM token is now live on the Optimism blockchain with incentivized liquidity pools on Velodrome. Users can now swap and use FOAM tokens taking advantage of low transaction costs on Ethereum Layer 2s, the first step of FOAM joining the Superchain. This post will cover the basic information about FOAM on Optimism.
What is the FOAM Optimism Token information?
The FOAM Token address on Optimism is 0x79E6c6b6aABA4432FAbacB30cC0C879D8f3E598e
And the official Optimistic Etherscan link for FOAM token is: https://optimistic.etherscan.io/token/0x79e6c6b6aaba4432fabacb30cc0c879d8f3e598e
How can I bridge FOAM tokens to Optimism?
The easiest way to bridge FOAM tokens is with the Superbridge App, find FOAM token in the dropdown menu and follow the instructions https://superbridge.app/optimism
Additionally, FOAM tokens can be bridged to Optimism from the Optimism bridge https://app.optimism.io/bridge/deposit
What is Velodrome?
Velodrome is a decentralized exchange and AMM designed to be the central trading & liquidity marketplace on the Superchain. Participants can vote on token emissions and receive incentives and fees generated by the protocol.
Where can I find the FOAM Velodrome pool?
You can search for FOAM on https://velodrome.finance/ or follow this direct link.
I have FOAM tokens on Ethereum, what do I need to do?
No action is required. This update provides the option to bridge tokens to Optimism to take advantage of lower gas fees for users. Additionally, the FOAM MVP will be deployed to the Superchain for public testing.
Stay tuned for updates on the FOAM Proof of Location MVP launching onchain and new hardware.
FOAM is a Proof of Location technology for applications needing secure location services. It enables a handshake between the location service providers and the user, proving the user’s location. Terrestrial radios and time-of-flight algorithms are used to perform localizations, and digital signatures ensure the location data cannot be spoofed. The system is completely independent of satellite-based location services like GPS.