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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Ethereum layer two TVL reaches all-time high

Layer 2 TVL has more than doubled over the past couple of months, hitting a new all-time high of $5.64 billion.

The total value locked (TVL) on Ethereum layer two (L2) networks has surged to a new peak as gas fees continue to steadily rise driving further adoption. 

Layer 2 analytics platform L2beat currently reports that the total amount of value locked across various L2 protocols and networks has reached an all-time high of $5.64 billion.

L2 scaling solutions provide much higher transaction throughput and lower transaction fees, and they have surged in terms of adoption in November which has seen the highest average gas fees in Ethereum network history.

Arbitrum has the lion’s share of the L2 market with $2.67 billion locked up, or around 45% of the total.

The dYdX decentralized derivatives exchange is in second place with $975 million in TVL, and the Loopring L2 DEX is in third place with $580 million, however its own LRC token makes up most of its value locked.

Layer 2 TVL has more than doubled since the beginning of October, surging 110% from $2.68 billion to current levels.

Related: Binance opens layer-two ETH deposits with Arbitrum One integration

Average Ethereum transaction fees are currently around $40 according to Bitinfocharts. They spiked to their second highest ever level of around $65 on Nov. 9 and have increased by 700% over the past four months.

Gas prices vary depending on the operation, a simple ERC-20 token transfer can cost around $45 at the moment and a more complex smart contract interaction or Uniswap swap can cost a painful $140 according to Etherscan.

Registering a name on the Ethereum Name Service can cost hundreds of dollars in gas despite the actual domain name costing just a few bucks per year.

Since October, multichain compatible DeFi platforms have seen record inflows as investors and developers attempted to avoid the Ethereum network due to soaring gas fees.

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