Wednesday, the layer two (L2) scaling project Boba Network announced Boba AVAX L2 through the team’s Twitter account. Boba said, “We’re thrilled to announce our relationship as the official scaling solution for Avalanche.” “Avalanche provides lightning-fast speeds, cheap prices, and eco-friendly solutions; Boba AVAX L2 upholds and improves these characteristics.”
Boba is already linked to the Ethereum (ETH) network, and at the time of writing, l2fees.info reports that Boba’s fee to transfer ether is $0.17, while the anticipated cost to trade tokens is $0.30. According to etherscan.io’s gas monitoring tool, this is less than the current fee of 34 gwei ($0.96) to transmit ether onchain. A high-priority decentralized exchange (dex) swap may cost $8.47 per transaction onchain, therefore Boba’s cost to switch is 96.45% lower at $0.30 per transaction.
“Faster transactions and reduced fees: Boba AVAX L2 is designed for all big transactions, throughput-dependent protocols, and everyone who wants to be a part of the next generation,” Boba said on Wednesday. With this new functionality, the team will join partner decentralized applications (dapps) such as Sushiswap and Evoverses. Boba noted, “While Sushi deploys its Legacy Swap on Boba AVAX L2, Evoverses will join with their 3D PvP gameplay, powered by Unreal Engine 5 and Hybrid Compute, to help the game realize its full potential.”
In recent years, L2 initiatives such as Boba Network have partnered with a multitude of industry titans and blockchain networks. Recently, Opensea announced that the main NFT marketplace has introduced support for Arbitrum, while NFT market rival Rarible disclosed support for Immutable X. Arbitrum, Immutable X, and Boba Network are all L2 projects, with Loopring, Zksync, Optimism, Metis, Polygon Hermez, and Aztec as additional contenders.