Lumoz Set to Introduce StableNet on Polygon and Celestia Blockchain Network

Lumoz Set to Introduce StableNet on Polygon and Celestia Blockchain Network

Introducing StableNet by Lumoz

Lumoz, formerly known as Opside, has unveiled its intend to launch StableNet, a ZK-Rollup that can connect with Ethereum (ETH) Virtual Machine (EVM) featuring unique capabilities. The launch is scheduled for December and was revealed during a joint event with Polygon (MATIC) was known RaaS Day.

Polygon Certification and Features

The Polygon team has certified Lumoz as a ZK-RaaS platform, which allows the development of ZK-Rollups without the need to interact with code interfaces. Notably, StableNet will operate on both the Polygon Chain Development Kit (CDK) and the Celestia Data Availability (DA). CDK enables developers to build ZK-powered layer-2 solutions, while Celestia DA is a modular blockchain that supports integrations with multiple roll-ups and Ethereum-based DApps.

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Key Features of StableNet

StableNet is stated as a cutting-edge ZkEVM built on Ethereum (ETH) and will feature unique characteristics. Notably, network gas fees will be priced and paid in the stablecoin Circle USD (USDC), and it will have an Optimized Gas Economic Model. Lumoz likewise states that all gas fee income generated on StableNet will be reinvested back into the community, including DApps developers, Liquidity Providers (LPs), and regular users. In addition, StableNet will facilitate Cross-Rollup Communication, allowing addresses to interact with Ethereum’s smart contracts like Aave (AAVE) and Uniswap (UNI).

“This is a whole lot of milestone for Lumoz, being the first rollup to utilize Polygon CDK and go live, while likewise 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.

Hot Take: A Milestone for ZK-Rollup Technology

Lumoz’s notice represents a whole lot of advancement in ZK-Rollup technology and blockchain innovation, showcasing the  capacity for broader adoption of second-layer solutions in the cryptocurrency space.

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