Ethereum L2 Linea witnesses the deployment of the Myriad Protocol expansion
In a recent blog post, Ilan Hazan, the COO and co-founder of DASTAN, announced that Myriad Protocol is not leaving Abstract but is instead extending its presence. The announcement comes as part of Myriad's strategy to accelerate its multichain expansion, starting with the integration of prediction markets across multiple blockchains.
Myriad Protocol will power Myriad Markets on Abstract and implementations on other chains, including the Ethereum Layer-2 network Linea. This expansion aims to create a scalable, low-cost, and seamless Decentralised Finance (DeFi) ecosystem.
The integration with Linea, a scalable and low-fee Layer-2 solution, is a significant milestone for Myriad Protocol. Users can now sign in, bridge assets, and make predictions on Linea. This integration brings prediction contracts to Linea's hundreds of thousands of monthly active users, marking a significant impact for Ethereum users.
The Linea team is also planning to create more resources for Ethereum users, further enhancing the user experience. Myriad Protocol is now live on Abstract in addition to Linea, allowing for a broader reach.
Looking ahead, Myriad Protocol has several key future plans. These include embedding prediction markets ubiquitously across various digital platforms and blockchains, treating each chain as a distinct ecosystem rather than competitors. This approach encourages organic growth and wider community adoption.
Myriad also plans to utilize EigenCloud infrastructure to enable trustless revenue sharing, censorship-resistant oracles, and the generation of synthetic tokens that represent stablecoin Total Value Locked (TVL) positions. These tokens can be restaked to generate additional yield, enhancing liquidity and user incentives.
The company is also building a unified liquidity hub across all EVM-compatible chains to foster interoperability and reduce friction for users and developers. This hub supports the deployment of innovative prediction contracts as a new DeFi product class comparable in utility to ERC-20 tokens.
DASTAN co-founder and President Farokh Sarmad emphasises thinking 10 times bigger about Myriad Protocol's potential. Myriad developers are working on a pipeline of new products for distribution, with plans for Myriad to introduce restaking in the future.
Myriad Protocol is viewed as a new class of DeFi products, similar to ERC-20 tokens. The strategy aims to revolutionise decentralised forecasting by making prediction markets an integral and accessible element of DeFi across multiple chains, powered by scalable Layer-2 solutions like Linea and robust decentralised infrastructure like EigenCloud.
With these developments, Myriad is gearing up to deliver on its mission to change the way people consume and distribute content globally. The integration lays the groundwork for Myriad's future multichain expansion, positioning the platform for significant growth and impact in the DeFi space.
- Myriad Protocol is extending its presence on Abstract and integrating with Ethereum Layer-2 network Linea, aiming to create a scalable and low-cost DeFi ecosystem.
- Users can now sign in, bridge assets, and make predictions on Linea, bringing prediction contracts to Linea's user base, which includes hundreds of thousands of monthly active users.
- Myriad Protocol's future plans include embedding prediction markets ubiquitously across various digital platforms and blockchains, leveraging Layer-2 solutions and decentralised infrastructure like Linea and EigenCloud.
- The company is also building a unified liquidity hub across all EVM-compatible chains to foster interoperability and reduce friction for users and developers.
- DASTAN co-founder and President Farokh Sarmad envisions Myriad Protocol as a new class of DeFi products, with plans to introduce restaking in the future and a pipeline of new products for distribution.
- Myriad's strategy is to revolutionise decentralised forecasting by making prediction markets an integral and accessible element of DeFi, powered by scalable Layer-2 solutions and robust decentralised infrastructure, ultimately changing the way people consume and distribute content globally.
