Source: Kuklos – Shutterstock
- Overtime, a sports market AMM is moving to Arbitrum.
- The move comes not long after Overtime launched on Optimsim and integrated with Chainlink.
Overtime, an automated market maker (AMM) venue that was recently integrated with Chainlink oracles on the mainnet of Optimism is launching on the Arbitrum.
OVERTIME IS LIVE ON ARBITRUM!
Sports markets like it should be, the web3 way
Overtime is the first successful sports AMM built with @chainlink Sports Feeds, now landing on @arbitrum
Happy to join the fam, Arbinauts!
Launch Details https://t.co/8c1bkYpb44
1/4
— Overtime Markets (@OvertimeMarkets) February 15, 2023
Overtime is another innovative decentralized platform that aims to offer a one-of-a-kind service to its existing and future customer base. Overtime was launched in August 2022 and has since hit many milestones after its launch. It is also the very first decentralized protocol to offer sports markets. Despite its recent entry into the market, Overtime has some notable achievements under its belt.
With $17M in notional volume, 100k positions taken, 2,800 users, and 17 sports leagues on the platform, the dApp is clearly on a commendable path, since launching on Optimism.
Overtime already set itself up for success with the integration of Chainlink. Chainlink is a decentralized oracle network that is responsible for providing real-world data to smart contracts on the blockchain. The real-world implementation of blockchains is incomplete without Chainlink. Chainlink sports feed will provide Overtime with real-time, verifiable data that helps it maintain its status as a world-class sports market platform.
Here’s what Overtime has in store for users as it moves to Arbitrum
Overtime, a recent blogpost noted that after its success on Optimism, it is only right that it lands on Arbitrum. Arbitrum is a layer 2 solution created for the sole purpose of enhancing the potential of Ethereum smart contracts. Arbitrum does this by improving speed and stability, and also including more privacy features to boot. Overtime noted.
With the early success of the Thales AMM on Arbitrum and the embrace of the team at OffChain Labs, the company behind the layer 2 network, it only makes sense to bring Overtime along for the ride. We’re going multi-chain!
Overtime landing on Arbitrum means that all sports, leagues, and position types will be made available on Arbitrum. Additionally, a “get started” page will be made available, to enable the onboarding to the new chain effortlessly.
No spam, no lies, only insights. You can unsubscribe at any time.
The community has pushed for this expansion into the Arbitrum universe and now that TIP-115 Deploy Overtime to Arbitrum has been voted in by Thales governance, we have the go-ahead to launch..
As of now, USDC is the only stablecoin supported on Arbitrum. Just as Overtime did on Optimism, the market will be seeded with liquidity. 100,000 USDC will be added to the Overtime Sports automated market maker. Another 50,000 USDC will be used to fund the Parlay automated market maker. The USDC in circulation will give users a great head start to trading and making use of many options in their chosen market.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Credit: Source link
