Owlto Finance
Owlto is a decentralized Cross-Rollup bridge. Focusing on L2, provide cheaper and faster service.
As the transaction volume and number of users in the Ethereum ecosystem continue to grow, the Ethereum network is facing congestion and high transaction fees. To address these issues, Layer2 scaling solutions have become a highly anticipated solution. Among them, Rollups (including Optimism and Zero-knowledge proof) as an Ethereum Layer2 solution, have great potential.
The Rollup solution for Ethereum aims to achieve high throughput, low cost, and better user experience by migrating transactions and smart contracts from the Ethereum mainnet to the Layer2 Rollup network. It provides scalability and high-performance solutions for DeFi, NFT, DEX, and other applications in the Ethereum ecosystem, while protecting user asset security and data privacy.
As the Ethereum ecosystem matures, there will be more and more applications on top of it, and the need to transfer assets between chains to meet practical application needs will become more apparent. Recently, with the increasing maturity of cross-chain technology, more and more users are completing cross-chain operations on-chain environments (rather than through centralized exchanges), and cross-chain bridges have been proven effective.
Under the past Layer2 framework, Rollups cannot be directly transmitted between each other. If a user wants to transfer assets from Rollup A to Rollup B, they must wait for a long withdrawal time, transfer assets from Rollup A to the mainnet first, then transfer them from the mainnet to Rollup B, and pay a high Gas Fee. As the demand for Layer2 Cross-Rollup assets by users grows, Cross-Rollup bridges become more evident.
The background of this product is based on the industry situation described above, and the derived technical solution. Owlto Finance is a decentralized Cross-Rollup bridge specifically designed for transferring local assets within the Ethereum network. It can respond well to user needs and solve industry pain points.
