Uniswap V3 is now deployed on the Optimism (OΞ) network.
Optimism is a Layer 2 scaling solution that enables near-instant transaction finality and low transaction fees while preserving the security guarantees of Layer 1 Ethereum.
At launch, transactions on OΞ are executed by a single sequencer run by the Optimism team, which periodically posts transactions and the state root (the aggregate update to all account balances, contract code, etc) on the L1 Ethereum blockchain.
The sequencer is kept honest by a network of verifiers, who will monitor transactions and state roots posted to L1. If a verifier discovers malicious behavior they can contest the invalid state root by submitting a fraud proof, which cancels any incorrect transactions and forces the sequencer to forfeit its deposit.
Although OΞ has undergone significant security review, please treat this as a risky, early beta product. It is a complex Layer 2 scaling solution still in need of rigorous battle testing.
At launch, the Optimism team will have full upgrade rights over the bridge contract, allowing them to address any bugs that may arise, but there remains a risk of total loss of funds.