DeFi platform MakerDAO intends to integrate Ethereum’s second-layer StarkNet solution to reduce transaction costs and increase the speed of transfers of the DAI stablecoin, The Block has learned.
“In terms of cost, this would be about a 10x improvement over Ethereum,” said Louis Beaudoin, StarkNet coordinator for the project.
Regarding speed, he has noted that the processing time transactions protocol is one to two minutes. During 2023, the team plans to reduce the figure to a few seconds.
StarkNet integration will begin on April 28 and will take place in four stages. Fully multi-collateral stablecoin DAI (MCD) will be deployed on StarkNet in late 2022 or early next year.
MakerDAO already supports two L2 protocols – Arbitrum and Optimism. Both networks use Optimistic Rollups scaling technology. StarkNet is built on top of the ZK-Rollups solution.
