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Lumoz to launch StableNet on Polygon and Celestia

Lumoz (formerly Opside) announced its plans to launch StableNet, a ZK-Rollup able to connect with Ethereum Virtual Machine (EVM) with unique features. The launch is set for December, and the announcement happened during a cohosted event with Polygon (MATIC) called RaaS Day.

The Polygon team certified Lumoz as a ZK-RaaS platform. A ZK-RaaS is a service that develops ZK-Rollups (second-layer solutions) in a few clicks without the need to interact with code interfaces.

Notably, Lumoz’s StableNet will run on both the Polygon Chain Development Kit (CDK) and the Celestia Data Availability (DA). Polygon CDK enables developers to build ZK-powered layer-2 solutions, while Celestia DA is a modular blockchain that allows integrations with multiple roll-ups and Ethereum-based decentralized applications (DApps).

StableNet features

According to a document shared by Lumoz with Finbold on November 21, StableNet is a “curring-edge ZkEVM built on Ethereum (ETH).” The launching company also presented some futures of its ZK-Rollup solution.

Interestingly, the network gas fees will be priced and paid in the stablecoin Circle USD (USDC). StableNet will also have an “Optimized Gas Economic Model,” and Lumoz claims “all Gas fee income generated on StableNet will be reinvested back into the community.” On the community, the team includes DApps’ developers, Liquidity Providers (LPs), and regular users.

Another feature worth mentioning is that StableNet will have a “Cross-Rollup Communication.” Essentially, StableNet will enable addresses to interact with Ethereum’s smart contracts, like Aave (AAVE) and Uniswap (UNI).

“This is a significant milestone for Lumoz, being the first rollup to utilize Polygon CDK and go live, while also receiving official certification and support from Polygon and Celestia. We aspire to offer more RaaS-related services to developers and projects in the future.”

— Alvaro Fernandez, COO of Lumoz.

All things considered, Lumoz’s announcement underscores a major advancement in ZK-Rollup technology and blockchain innovation.

Read the full article here

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