Decentralised synthetic assets

The Menkalinan Release

The Menkalinan Release

Later today (November 23, ~1800:00 UTC), the Menkalinan release is expected to take place. During this period, there will be no downtime on L1 and up to 30 minutes of downtime on L2. Here's what’s included in this release:

  • SIP-167 - L2 Bridged Governance: This SIP creates a bridge to connect L2 contracts to an L1 Gnosis Safe. The bridge will allow the ProtocolDAO to execute actions on L2 contracts using the same mechanism used on L1.

With the recent OVM 2.0 upgrade, the Optimistic Ethereum L2 now offers full EVM equivalence enabling more seamless synchronization of features between L1 and L2. To maintain consistency between L1 and L2, this release will also implement liquidations on L2.
This release is called Menkalinan, which like all releases is named after a star (in order of visual magnitude). If you've got any comments or questions about the release, please come join the conversation in Discord.