Supported Networks – Magpie Protocol

Ethereum

An OG chain, Ethereum has been sort of the default chain for DeFi for years. Facilitating smart contracts and dApps, it became incredibly popular and at one point contained over 96% of all total value locked within DeFi. Even with the increase of both Layer 2 and other blockchains, Ethereum is still holding both, the TVL and the yield farms and dApps majority, and we aggregate billions of liquidity from different sources on the Ethereum chain.

Polygon

A top 5 DeFi chain, Polygon is a Layer 2 Ethereum scaling platform focused on helping developers build scalable dApps, low transaction costs, and without sacrificing any security when compared to Ethereum. With up to 7.500 transactions per second, compared to Ethereum's 15, and costing just a few cents each, it’s easy to see why Polygon became so popular.

BNB Chain

Started by the world’s largest cryptocurrency exchange, Binance, BNB chain has smart contract functionality and compatibility with the Ethereum Virtual Machine, making for an easy transfer of Ethereum-based tools and dApps over to it. BNB Chain works off of proof-of-stake, meaning that the native gas token, BNB, is staked to become blockchain validators to provide consensus. The chain skyrocketed to success in 2021 during the huge DeFi surge and still to this day, it is the second most popular DeFi network, boasting over 10% of the TVL in DeFi.

Avalanche

An open, programmable smart contract platform for decentralized applications. With the fastest smart contracts platform in blockchain, at under 2 second finality, compared to Bitcoins 60 minutes and Ethereum's 6 minutes. Using subnets, the transactions per second on Avalanche can scale infinitely, not limited to a few hundred or thousand. Avalanche is compatible with Solidity, the smart contract language of Ethereum, and has the cheapest contract deployment rate, making it very popular for NFTs.

Arbitrum

One of the best Ethereum scaling solutions and a top five DeFi protocol in volume & TVL, but one of the lowest for fees, making it an incredible platform to trade on. Arbitrum is an “optimistic rollup,” meaning that they take individual transactions, and then batch them together to be computed off-chain and sent back to L1 Ethereum to be executed, making for faster computations and cheaper transaction fees.

Optimism

An “Optimistic Rollup” of Ethereum, batching, or “rolling up” transactions off-chain & sending them back to Ethereum mainnet once computed. This spreads gas fees & transaction time between 1000s of transactions. Optimism is designed to work with Ethereum from the ground up, so if an app works on Ethereum, it’ll work on Optimism at much less cost. Optimism is very similar to using the Ethereum that you love, but 10x faster and way cheaper. As it’s easy to develop for, tons of the most popular DeFi apps, wallets, tools, and NFT projects are all on Optimism already, with more on the way (including us!)

Polygon zkEVM

Polygon zkEVM Beta is the leading ZK scaling solution that is equivalent to Ethereum Virtual Machine: The vast majority of existing smart contracts, developer tools and wallets work seamlessly. It has low cost transactions by utilizing the power of ZK proofs, which lowers the total cost of transactions by rolling them up and splitting the cost. Using Polygon Zero technology, which is the fastest ZK proof in the world, Polygon's zkEVM has incredibly fast network finality with frequent validity proofs. When it comes to security, Polygon's zkEVM inherits most of Ethereum's security combined with the benefits of layer 2 batching for scaling.

Base

Base is a secure, scalable, and fully EVM compatible Ethereum L2 chain started by Coinbase as a way to help onboard users into DeFi. With Coinbase's $130b ecosystem, Base is built to be the onchain home for Coinbase products, users, and assets, as well as providing developer tools to make it easy to build and reach its users. Base plans to become more decentralized as the years progress and is built on Optimism's OP Stack, to ensure it's a public good available to all. Base will also be contributing a portion of their sequencer revenue to the Public Goods fund to help fund further projects. Base plans on implementing Account Abstraction (ERC4337) in 2024, which will allow users to pay for gas in any token they wish.

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