Key Takeaways:
DeFi protocol ether.fi completed a full migration of $220 million in total value locked (TVL) and 300,000 user accounts to the OP Mainnet blockchain, finishing the complex move from its previous Scroll deployment in just three days with no announced maintenance window.
"OP Mainnet is the only place where the team that built the stack co-pilots your migration, and where the liquidity is already deep before you arrive," Charles Mountain, DeFi Ecosystem Lead at ether.fi, said in a statement.
The core of the migration's success was an architectural decision to separate the platform's card payment accounting from its on-chain settlement layer. This allowed 70,000 active card users to continue making payments without interruption while core assets like USDC, USDT, and WETH were being bridged between chains. The platform’s technical team built the new OP Mainnet environment as a parallel system, provisioning new users directly onto it while existing assets were moved in stages from Scroll to Ethereum and then to OP Mainnet. Gnosis Safe’s deterministic deployment capability was used to ensure identical multisig addresses on the new chain, which removed the need for a complex address reconciliation process.
The successful migration serves as a critical proof-of-concept for ether.fi's infrastructure and its partnership with the Optimism ecosystem. Since the move was completed on April 15, the protocol’s TVL has increased by 57% to $347 million, according to data from the project. The move was supported by key infrastructure partners, with Pyth Network providing primary oracle feeds and Chainlink serving as a fallback. The protocol's roadmap on OP Mainnet now includes the launch of Gold Vaults, a Euro-backed card, and native stablecoin support.
This article is for informational purposes only and does not constitute investment advice.
