FLASH has lot of potential with it being first of it’s kind. But lot of new users are somewhat discouraged to flashstake or add liquidity because of ridiculously high gas prices . My proposal is that team should prioritize L2 solution even if it means delaying the next token (or reducing the tokens launched from 4 to 3 this year).
Edit 1: if anyone has more details on how L2 solution works please share. Does it require a token swap again???
1000 percent I have not staked and was reluctant to claim to be honest. I’ve also pooled in uniswap as the fees on dapp are crazy. I think all hands to L2 because Eth fees are not going down in the next year only up
I agree and I answered as much in the XIO-Feedback question from 1-2 days ago.
Enabling l2 support for FLASH and all future tokens is a pivotal step for Blockzero Labs and the adoption of our tokens.
Next token hasn’t been revealed yet and there’s no info on how far along they’ve come/how long it might take to develop it. But I generally agree, high gas fees are a limiting factor for flash right now, it’s holding the protocol back from it’s true potential and should be prioritized.
If I remember correctly when the L2 delay first was proposed Zach gave the impression of that it wasn’t that time consuming to implement and would push back the release “only a few weeks”. I don’t know if things have changed. Would be nice to have an update either way
Agreed. Some form of layer 2, even a Chi type solution (1inch) as mentioned by a member if the community, would be great. This would increase the usability of the app and open to a much broader audience.
I don’t know how the L2 works. If we adopt it does it close the possibility to continue using FLASH on ETH? Can we use FLASH in 2 blockchain? My fear is what happen if we adopt an L2 solution that close the door (maybe not, I dunno) to ETH in favour of an alternative blockchain and after the ETH 2.0 will fix all problem with fees, scalability etc…? we’ll do an epic fail.
In every case I don’t care to delay the next token. All I want is to get FLASH at its top!
I would vote for a delay for a layer 2 solution to reduce fees.
Or, as far as my understanding of contracts work, and optimized version of the app to reduce the amount of lines or processing that needs to be done. That might reduce total cost as well and help.
I think
Agree, L2 should be the top priority everything else could wait, flash was the main reason of XIO so, I also think we should get the most of out it! Flash is already unique but if it could join the small group of L2 projcts it could get even more attention, with ETH rising in 2021 people will looking forward only L2 projects.
I agree.
People will likely look at FLASH and the Dapp to assess the potential of future tokens to be released by blockzero. If they have a good experience and everything runs smoothly they are more likely to invest and get more involved in the community in my opinion.
I think just releasing 2 tokens in 2021 would be best as L2 solution may take up alot of resources but once sorted, similar L2 implementations could be done for future tokens with massive time savings! Releasing say 3 tokens then doing L2 solution for each afterwards I’d imagine would take alot longer and cost alot more to do.
I agree wholeheartedly just wondering if we know that this is not the number 1 prio already?
Also agree, smaller chance of mass adoption of regular people aren’t able to use it.
Now we’ve proved that it is a protocol people can and are willing to use it’s time to make it available to everyone. I want to tell my friends about it but can’t as they’ll see the tx cost and will be put off, likely for a long time.
I’d love to have some kind of layer 2 solution too, gasfees are stopping me from doing anything
Not sure exactly how layer 2 works or how long or easy it is to implement, also doing nothing because of gas. Flash is unique now and we need to make sure it works smoothly, attention span and patience is fading with the digital age(speaking personally) simple and cheaper process will boost popularity exponentially I believe.
ETH 2.0 will improve the current situation, but it will in no way remove the need to also utilize layer2 solutions.
ETH 2.0 is also 1.5-2 years away for any great impact.
I think, if the L2 solution could resolve this high gas fee problem, it should be prioritize. Sometimes I don’t even look anything on crypto when I look on ethgassation and see high gas fees.
Thank you Groot
Many of us was limited to use the Flash Dapp the way we could in the competitions.
Even when fees were not so bad we had to pay $150-250 to create a new pool. This increased to over $500 when the Gweii went up.
It looks like Matic is leading in L2 solutions.
Blockzero would attract many more investors if they could be one of the first DeFi projects to reduce cost dramatically by implementing L2.
#XIOFeedback
#XIOSocial
XID-f56A0
Agree.
This is needed for the token/dApp to be used properly.
Figured I’d chime in here, as I agree with the overall sentiment around gas fees being a barrier to entry for Flash at the moment. It feels like a bit of a waiting game in a sense! As the entire ecosystem is anxiously awaiting these L2 solutions as well.
From my understanding of a call we had today, Matic, while promising as a possible L2 solution, would require a bridge of sorts to be built between Flash and on to the Matic network…and Matic tokens would be required to be used within the Flashstake process and within the dApp. It could work in theory and would quell the gas issues, but it’d also be messy and require some extra steps that could overcomplicate things and place us in a box of sorts.
Seems like Optimism is going to be the potential L2 industry standard, but they’re a bit away from allowing other companies to build on them openly, and their first major launch with Synthetix is going down on Jan 15th , and their public test net is supposed to launch March 15th.
Seems like even within Synthetix, a multi-billion dollar project, they have many unknowns and bumps that will need to get smoothed out during that transition process, as evident in that linked blog.
Here’s another interesting piece by Vitalik on L2 solutions and rollups, and even he admits this L2 transition process isn’t fully realized or sketched out:
While the basic concept of a rollup is now well-understood, we are quite certain that they are fundamentally feasible and secure, and multiple rollups have already been deployed to mainnet, there are still many areas of rollup design that have not been well explored, and quite a few challenges in fully bringing large parts of the Ethereum ecosystem onto rollups to take advantage of their scalability. Some key challenges include:
User and ecosystem onboarding - not many applications use rollups, rollups are unfamiliar to users, and few wallets have started integrating rollups. Merchants and charities do not yet accept them for payments.
Cross-rollup transactions - efficiently moving assets and data (eg. oracle outputs) from one rollup into another without incurring the expense of going through the base layer.
Moral of the story is - I think L2 is coming and is sorellllly needed, but we may have to be a bit patient as we can’t fully spin up an Optimism L2 solution quite yet due to their public test net not even being out until March. I’m no dev, but I think I understand the whole L2 conundrum a bit better as I’ve been researching this myself lately! Hope that helped clarify things.
What about SKALE? It is already live and from what I understand easy to integrate.
I wrote about it in another thread regarding layer2.
I used both, xDAI and MATIC and after the first 10 minutes of getting familiar with the bridges it´s simply awesome. On MATIC´s Uni-Clone Quickswap I did more trades in 2 weeks than I did during 2 years on UNI, still paying only a fraction of a penny in total. In comparison to xDAI, matic seems to have faster confirmations/better consensus. This is just a user´s perspective…
If it´s technically feasible I would advocate for deploying the flashstake contracts on matic asap + incentivize L2 liquidity in the staking pools for a while (on top of current economic incentives of L1).