Vitalik Buterin Stakes $9K Worth of SNX via Optimistic Ethereum

Vitalik Buterin Stakes $9K Worth of SNX via Optimistic Ethereum

By Abhimanyu Krishnan | News | 26 Jan 2021

Ethereum co-founder Vitalik Buterin has staked SNX via the Optimistic layer 2 solution on Jan. 25, as seen in data from Ethscan.

  • Buterin staked just under $10,000 on the Synthetix L2 bridge on Jan. 25, making him the most high profile staker yet
  • Buterin himself has not commented on the transaction, and it could just be that he is testing the Optimistic Ethereum solutions
  • Optimistic Ethereum is a scaling solution for Ethereum that soft launched last week, reducing gas costs by a factor of 143x in a Synthetix demo
  • Currently, staking is a one-way bridge but Synthetix will add support for two-way bridges, additional assets and Chainlink oracles for in the near future
  • There are currently multiple solutions for lower gas costs and faster confirmation times that are being worked on, including Loopring’s zkRollup solution

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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