RACE has now joined the Optimism Superchain,
alongside OP Mainnet and Base, bringing greater asset
interoperability, speed, and safety to its users
LONDON, July 25,
2024 /PRNewswire/ -- RACE, the first full-stack
modular blockchain infrastructure platform designed specifically
for tokenizing and distributing real-world assets (RWAs), today
announced the mainnet launch of its Ethereum Layer 2
(L2) blockchain built on Optimism's OP Stack, a leading
Ethereum scaling solution. In tandem with the launch,
RACE is joining Optimism's Superchain, a network of chains that are
built on the OP Stack and contribute revenue back to the Optimism
Collective, the third self hosted chain to do so alongside OP
Mainnet and Base.
The mainnet launch of RACE's EVM-compatible Layer 2 blockchain
protocol signifies a major milestone for RACE in its mission to
create a global, decentralized marketplace run by its
users for tokenized RWAs using its ATB Layer (Asset To Blockchain
Layer). The tokenized assets will include trade finance, private
debt, private equity, real estate, commodities, art, and luxury
collectibles.
Furthermore, the launch unlocks several key benefits for users
and the broader tokenized asset ecosystem. With the integration of
Optimism's Layer 2 technology, users can now invest in tokenized
RWAs with near-instant transaction finality and significantly
reduced fees compared to transacting on the Ethereum
mainnet, without compromising on security. This improved efficiency
is crucial to support a thriving global marketplace of tokenized
assets accessible to investors worldwide. By contributing to the
Superchain, RACE will also benefit from the network's governance
structure, scalability, and interoperability, in turn providing
users with substantial cost reductions and enhanced speed and
safety.
"The launch of our L2 mainnet is a significant step forward in
our journey to revolutionize how RWAs are owned, traded, and
managed on a global scale," said Miguel Buffara, Core Contributor
and Lead Finance Engineer at RACE. "By leveraging the shared
security and scalability granted by the Superchain, we're able to
truly focus on enhancing our infrastructure and provide investors
with seamless access to a diverse range of tokenized assets through
our ATB Layer, in a compliant and trusted environment for asset
owners, issuers and liquidity providers."
Assets tokenized on RACE will gain exposure to Optimism's
growing ecosystem of decentralized applications,
exchanges, and liquidity pools. This connectivity enables seamless
cross-chain trading and enhances liquidity for tokenized assets,
creating a more powerful and versatile market. Projects and
developers building on RACE's infrastructure can also leverage
Optimism's extensive suite of tools, SDKs, and documentation,
accelerating the development of new applications and services
within the RACE ecosystem.
"We're thrilled to welcome RACE to the Superchain in tandem with
its L2 mainnet launch, a testament to our support for RACE as it
sets to unlock access to tokenized assets for community members
globally," said Mark Gerhart,
Ecosystem Partnerships Lead at Optimism. "RACE's approach to
creating a decentralized and compliant infrastructure
environment, in which participants with varying degrees of
familiarity with tokenized assets can easily propose, buy, or sell
assets, is much needed in this next era of web3 development."
RACE is committed to establishing a secure and transparent
ecosystem for digital asset management, employing stringent
security protocols, risk mitigation strategies, and an innovative
Decentralized Investment Committee (DIC), composed of
legal, financial, and industry experts to ensure the integrity of
the tokenization process, enhance platform trustworthiness, and
maintain Know Your Customer and compliance practices.
"As pioneers of DIC-based decentralized due
diligence, we see our mainnet launch as an opportunity to set a new
standard for trust and transparency in the tokenized asset space,"
said Krisanth Sivarajh, Core Contributor and Director of Project
Management at RACE. "We look forward to welcoming investors and
asset owners to experience the next generation of borderless,
frictionless investing on RACE."
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.
To learn more about RACE, visit raceecosystem.com and
follow on Twitter at @RACEecosystem. To learn more about RACE's
Foundation, visit
race.foundation.
ABOUT RACE
RACE is a full stack, EVM-compatible Modular layer two
protocol, designed to serve as the first truly global tokenized
infrastructure and decentralized Real World Asset
(RWA) marketplace. Governed by its users and
decentralized investment committee members, the
platform was built with the goal of integrating
non-crypto native financially savvy investors. RACE is
building everything from interoperable non-custodial wallets to
decentralized investment committees into the
infrastructure. Vetted assets from trade finance, private credit,
real estate to fine art can be tokenized by owners and sponsors to
be listed on the platform infrastructure, by first digitizing
assets through its ATB layer and then financializing these assets,
thus endowing them with financial instrument properties. Many
of these assets were in the past inaccessible to many global
investors.
Media Enquiries:
Wachsman
wachsman@race.foundation
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SOURCE RACE