Ethereum Layer 2 Scaling Solution Linea Witnesses Launch of Myriad Protocol Extension
Myriad Protocol, a pioneering DeFi project, has taken a significant step forward in its multichain strategy by launching on the Ethereum layer-2 network Linea [1][5]. This move aims to provide scalable, low-cost prediction markets and expand the user base by offering faster transactions and reduced fees.
The expansion onto Linea is part of Myriad's broader vision to develop a new class of DeFi products centred on innovative prediction contracts [1]. These contracts enable users to speculate on future events in a decentralized manner, offering opportunities beyond traditional assets and fostering innovation within decentralized finance.
Looking ahead, Myriad plans to continue its multichain expansion by operating not only on Linea but also maintaining its presence on Abstract and potentially other networks [1][3]. By treating different blockchains as complementary ecosystems rather than competitors, Myriad seeks organic growth and wider community integration across diverse platforms.
In terms of new DeFi product development, the focus remains on prediction contracts as transformative financial instruments comparable in utility to ERC-20 tokens within DeFi. These contracts create fresh opportunities for users to engage with DeFi beyond traditional assets, driving innovation and enhanced participation in decentralized finance.
Myriad's co-founder and COO, Ilan Hazan, announced the news in a blog post [2]. Loxley Fernandes, co-founder and CEO of Myriad's parent company DASTAN, stated that Myriad wants to be part of Linea's growth [4]. The Linea team is expected to create more resources for Ethereum users and make a significant impact [6].
The integration with Linea will enable Myriad to scale more efficiently. Myriad Protocol will also power Myriad Markets on Abstract, and the company plans to implement on other chains, not limited to Ethereum [1][3]. DASTAN co-founder Farokh Sarmad encourages thinking about Myriad 10 times bigger at this stage [4]. The launch marks a significant milestone for Myriad, paving the way for its multichain expansion.
References: [1] Myriad Protocol Blog Post - [Link] [2] Myriad Protocol Twitter Announcement - [Link] [3] Linea Network Announcement - [Link] [4] DASTAN Blog Post - [Link] [5] Linea Network Whitepaper - [Link] [6] Linea Network Roadmap - [Link]
- Myriad Protocol, a DeFi project, has launched on the Ethereum layer-2 network, Linea, as part of its multichain strategy, aiming to offer scalable, low-cost prediction markets and expand its user base.
- The expansion onto Linea aligns with Myriad's vision to develop innovative prediction contracts, creating opportunities for users to engage with DeFi beyond traditional assets.
- Looking ahead, Myriad plans to operate on not only Linea but also Abstract and potentially other networks, seeking organic growth and wide community integration across diverse platforms.
- In the future, Myriad Protocol will power Myriad Markets on Abstract and implement its technology on other chains, not limited to Ethereum.
- Myriad's integration with Linea, coupled with its strategic multichain expansion, positions the project to scale more efficiently and paves the way for growth in data-and-cloud-computing technology, crypto, BTC, ETH, Ethereum, staking, ICO, mining, Defi, and other related areas.
