CORRECTION: Maker Teleport, which enables users to send and withdraw DAI by circumventing the Ethereum blockchain’s base layer, is available now on layer 2s Arbitrum and Optimism. sndr_krisztian reports:
The new technology could prove crucial for DAI users because the Ethereum network is prone to congestion and high transaction costs during times of high traffic. Maker Teleport reduces fees and settlement time for transferring DAI from between Ethereum and layer 2 networks, which before could take anywhere from 30 minutes to a few days.
“While the DeFi space has matured significantly over the past few years, many processes remain inefficient, complex or costly, dampening the user experience,” Sam MacPherson, a protocol engineer at MakerDAO, said in the press release. MakerDAO is one of the biggest players in DeFi, and it also issues the largest decentralized stablecoin, DAI. Recently, it has invested a part of its $8 billion
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