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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