Ethereum-scaling system Optimism delayed its mainnet launch to July after the venture-backed startup’s promise of a debut in March proved to be “overeager,” the project announced Thursday.
In a blog post, Optimism, which last month raised $25 million from Andreessen Horowitz and others, admitted the original timeline was unworkable and took many projects by surprise.
Rushing its tech salve for raging Ethereum gas fees could have dangerous consequences. “There is a very real risk of” projects getting fraudulently forked by bad actors, the post said.
Optimism called July a “rough estimate” for its mainnet launch. A hacker-ready testnet will debut in late April.
In a research post published Monday, Buterin proposed creating index-tracking assets using options contracts rather than the debt-based structures that underpin much of DeFi today.
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Ethereum co-founder Vitalik Buterin proposed replacing DeFi's debt-and-liquidation model with an options-based system that could allow users to gain exposure to assets like the U.S. dollar or crypto indexes without facing sudden liquidations during market downturns.
Buterin argued the design could reduce reliance on real-time price oracle, a major source...