Ethereum Layer 2 Optimism's Hopeful Launch Delayed, Larry: "They just love the taste of pain."

The Layer 2 solution is a highly anticipated development to address the high cost and slow speed issues of Ethereum. Among the various technologies, Plasma and Rollup are the most prominent, with Rollup further divided into Optimistic and ZK solutions. The Optimistic approach, which has been trialed by popular DeFi protocol Synthetix and is also set to be used by Uniswap v3, has garnered significant attention.

However, it may take some time before the implementation of Optimistic on Uniswap v3 is seen. On the 26th, the Optimism team announced that a hackathon will be held on the testnet on April 20, and the mainnet launch will be delayed until July to ensure the infrastructure is sound.

Team Not Rushing, Community Feeling the Urgency

Originally, Optimism was scheduled to go live in March 2021, but now it has been delayed by three months, and the phenomenon of high Ethereum gas fees may need to continue for a while. Uniswap v3 is set to launch in May, which means it will be at least another two months before Optimistic Rollup can be used, adding another variable to the usability of v3.

Larry Cermak, research director at The Block, stated, "Ethereum people just seem to enjoy the taste of pain, there's no other explanation. " For those who believe that there are many other competitive teams and Optimistic is not the only solution, they should remain optimistic. He believes that because both Uniswap v3 and Synthetix have stated they will use Optimistic Rollup, it is clear that collaboration with Optimistic Rollup is needed to make their designs fully functional. Moreover, Uniswap has the most users in DeFi, and its choice almost determines the direction of Layer 2. People should not deceive themselves any longer.

Promising a March release last month and today announcing that the launch is delayed by another 3 months. Ethereum people just really enjoy pain, there is no other explanation https://t.co/ylBTmzAwmW

— Larry Cermak 🫡 (@lawmaster) March 26, 2021

Some also believe that even if Optimistic Uniswap is not seen by July, it would not be surprising, leading to a significant drop in the UNI trading market. During this period, there is also an opportunity for another solution, ZK Rollup.

UNI Price Trend

At 2:45 AM Taiwan time on March 23, Uniswap released a promotional video, and UNI fluctuated between 32 and 35; at 1:07 AM on March 24, v3 details were announced, and UNI briefly rose to 37, breaking a new high, but then began to decline within an hour, dropping to a low of 25; at 8:33 AM on March 26, Optimism announced a delay, and UNI slightly rebounded along with Bitcoin's performance, currently at 28, lower than before the v3 announcement.

Currently, Bitcoin has rebounded from a week-long decline, but it seems that UNI has not recovered as a result. The v3 details did not mention whether the governance token would restart liquidity mining or have other critical functions, which may be one of the reasons.