ELI5 Layer2.Finance: The Modern Subway of the DeFi City With | Celer Network Announcements

ELI5 Layer2.Finance: The Modern Subway of the DeFi City

With layer2.finance launching soon, here is an ELI5 writeup about how it works as a subway system in the DeFi City and cuts costs by 100X to earn yield from your favorite protocols like Compound, AAVE, yEarn, Curve, Uniswap and more!

TL;DR:
The entire DeFi ecosystem is like a city with many cool yield-earning shops. However, the only way to get around in it today is by hiring an expensive private limo (individual layer1 txs to provide liquidity). This prevents non-millionaires from benefiting from DeFi.

layer2.finance is basically a subway network under DeFi City (the layer2 rollup scaling platform). Multiple people can get on the same train (i.e. pool liquidity on L1 and aggregate their demands to provide liquidity on L2) and split the costs of a single ride (one tx on L1).

It's 100% non-custodial because the whole subway system is built as a layer-2 rollup scaling platform. More importantly, it can dynamically expand to more stations and even more cities (other layer2 or layer1 chains) as the demands grow and the ecosystem evolves.

Only through the People’s Power, we can truly achieve the vision of the People’s DeFi and actually bank the unbanked. Stay tuned for the boarding call!

Like and Retweet: https://twitter.com/CelerNetwork/status/1378133634700300290
More details: https://blog.celer.network/2021/04/02/eli5-layer2-finance-the-modern-subway-of-the-defi-city/