RACE, a pioneering full-stack modular blockchain infrastructure platform, has announced the launch of its Ethereum Layer 2 (L2) blockchain mainnet, built on Optimism’s OP Stack. This development marks RACE’s entry into Optimism’s Superchain, a collective network of chains that leverage the OP Stack and contribute revenue back to the Optimism Collective. RACE is now the third self-hosted chain to join this innovative network, following OP Mainnet and Base.
Enhancing Tokenized Real-World Assets
The launch of RACE’s EVM-compatible L2 blockchain protocol represents a significant advancement in its goal to create a decentralized marketplace for tokenized real-world assets (RWAs) through its ATB Layer (Asset To Blockchain Layer). The platform aims to facilitate the tokenization of various assets, including trade finance, private debt, private equity, real estate, commodities, art, and luxury collectibles.
Key Benefits for Users and the Ecosystem
The integration of Optimism’s Layer 2 technology brings several advantages, notably near-instant transaction finality and significantly reduced fees compared to the Ethereum mainnet, without compromising security. This enhancement is crucial for supporting a vibrant global marketplace for tokenized assets, making it accessible to investors worldwide. Additionally, RACE’s contribution to the Superchain will leverage its governance structure, scalability, and interoperability, resulting in cost reductions and improved speed and safety for users.
Strategic Vision and User Empowerment
RACE’s core contributor and lead finance engineer, Miguel Buffara, highlighted the significance of the L2 mainnet launch in revolutionizing the ownership, trading, and management of RWAs on a global scale. Buffara emphasized that by utilizing the shared security and scalability of the Superchain, RACE can focus on enhancing its infrastructure, providing investors with seamless access to a diverse range of tokenized assets through its ATB Layer. This environment is designed to be compliant and trustworthy for asset owners, issuers, and liquidity providers.
Connectivity and Developer Support
Tokenized assets on RACE will benefit from exposure to Optimism’s expanding ecosystem of decentralized applications, exchanges, and liquidity pools. This connectivity promotes seamless cross-chain trading and enhances liquidity for tokenized assets, creating a more robust market. Developers and projects building on RACE’s infrastructure can also take advantage of Optimism’s comprehensive suite of tools, SDKs, and documentation, which accelerates the development of new applications and services within the RACE ecosystem.
Optimism’s Endorsement and Strategic Partnership
Mark Gerhart, Ecosystem Partnerships Lead at Optimism, expressed enthusiasm for RACE joining the Superchain and its L2 mainnet launch. He noted that RACE’s approach to creating a decentralized and compliant infrastructure environment is crucial for the next phase of web3 development. This environment allows participants with varying degrees of familiarity with tokenized assets to propose, buy, or sell assets easily, thereby expanding access to tokenized assets for community members globally.
Commitment to Security and Transparency
RACE is dedicated to establishing a secure and transparent ecosystem for digital asset management. The platform employs stringent security protocols, risk mitigation strategies, and an innovative Decentralized Investment Committee (DIC) composed of legal, financial, and industry experts. This committee ensures the integrity of the tokenization process, enhances platform trustworthiness, and maintains Know Your Customer and compliance practices.
Setting a New Standard for Trust
Krisanth Sivarajh, core contributor and director of project management at RACE, described the mainnet launch as an opportunity to set a new standard for trust and transparency in the tokenized asset space. He welcomed investors and asset owners to experience the next generation of borderless, frictionless investing on RACE, emphasizing the platform’s role as a pioneer of DIC-based decentralized due diligence.
Conclusion
The launch of RACE’s Ethereum Layer 2 blockchain represents a transformative step in the tokenization of real-world assets. By joining Optimism’s Superchain and leveraging advanced blockchain technology, RACE aims to create a secure, efficient, and transparent marketplace for RWAs. This initiative is set to drive the next wave of innovation and growth in the blockchain and decentralized finance sectors.
The RACE mainnet launch follows a successful $5 million funding round and L2 testnet phase completed in 2024, and recent partnership announcements with Bridge.xyz and DFNS, which enable RACE to provide lower transaction costs and ‘keyless’ password-based wallets, respectively, for a more seamless user experience.