5/1/2023 0 Comments White papers□We believe that real-time DeFi notifications are a critical piece of the DeFi infrastructure puzzle and its impact on the industry will be massive. ✅ Community-led and open - public and decentralized alert nodes ✅ Multi network support - Ethereum, BSC, Polygon and more ✅ Free for use - no subscription fees or ads! □The Open DeFi Notification Protocol is a community inspired initiative spearheaded by, to provide users with decentralized and free mobile notifications for crucial on-chain events: The Open DeFi Notification Protocol, powered by Orbs, Launches Public Beta! Read all about Orbs Multi-Chain Staking on Ethereum and Polygon in the full blog. □Right after the proposal release, top media sources featured the event. □Having the Orbs governance mechanism deployed on multiple chains is a revolutionary and bold move by the Orbs project which conforms with Orbs vision of interoperability across the crypto space. □The end result will, if accepted by the ecosystem, allow Orbs Delegators to have the ability to choose between staking on Ethereum and staking on Polygon, based on their own personal preferences and considerations. □The multi-chain staking solution proposed by the team is expected to completely mitigate the current high Ethereum gas costs for Orbs delegators interacting with the Orbs staking contracts. □The Orbs team proposed utilizing Orbs' hybrid architecture and cross-chain properties to deploy multi-chain Orbs PoS staking, adding Polygon to the existing staking on Ethereum. Orbs Introduces Multi-chain Staking Proposal *Orbs Delegators can always remove the ORBS token approval using existing tools such as approved.zone.Ĭonnect Metamask Wallet with TETRA -> Select a Guardian (Transaction #1) -> Approve ORBS token usage (Transaction #2) -> Stake ORBS (Transaction #3)Ĭonnect Metamask Wallet with TETRA -> Stake ORBS (Transaction #1, no approval needed) It is true that for most protocols, like DEXs for example, there is only a 1-time approval when swapping tokens.Īs a result, the team has updated Tetra architecture and, from now on, the ORBS approval transaction will be required only when staking ORBS for the first time, after which it will no longer be needed when re-staking(*). We received a lot of feedback from the community that this step is redundant and only puts additional costs for Orbs Delegators. Originally, this was designed as a security feature, as it is good practice to not leave open token approvals when interacting with smart contracts. Up until now, each time an Orbs Delegator wanted to stake ORBS on Tetra, he had to send an “Approve” transaction for his ORBS tokens in order to allow Tetra to stake the ORBS. As part of this revamp, the Orbs team also took the time to address one other feedback from the community regarding the staking flow - specifically the “Approval” step. One of the action items for Polygon staking is revamping Tetra: the official staking wallet by the Orbs team. The end result will allow Orbs Delegators to have the ability to choose between staking on Ethereum and staking on Polygon, based on their own personal preferences and considerations. The multi-chain staking solution proposed by the Orbs team is expected to completely mitigate the current high Ethereum gas costs for Orbs Delegators interacting with the Orbs staking contracts. This proposal addresses one of the key feedbacks from the community following the V2 launch: the substantial increase in ETH price and soaring gas prices for Orbs Delegators. Orbs recently announced its latest protocol update proposal for multi-chain staking on Ethereum and Polygon.
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