The Bedrock Hard Fork on Optimism

•

Hello Perp traders!! Are you ready to rock the Bedrock hard fork on Optimism? 🤘🔴✨ This thread will drop some alpha on you before the epic upgrade in less than 24 hours.

1/ What's OP Bedrock? Bedrock is the next-gen rollup on Optimism for mass adoption. It has: 🔴 Lower fees 🔴 Shorter deposits 🔴 Improved proofs 🔴 Faster nodes 🔴 Ethereum compatibility Learn more here: community.optimism.io/docs/developers/bedrock/ #Optimism #Bedrock

2/ Wen the upgrade? The upgrade will go live on June 6, 2023 16:00 UTC. OP mainnet will be offline for 2-4 hours during the upgrade. Trading on @perpprotocol will also be affected by this downtime. twitter.com/optimismFND/status/1665790663516909568?s=20

3/ How Does it Affect Traders on Perp? Due to the upgrade, Perp’s clearinghouse will go offline on June 6, 2023 15:30 UTC. During this time, you can’t do any deposits, withdrawals, liquidity actions, or trades. The operation will resume within 30 mins following the upgrade.

4/ Do I have to close my positions? You don’t need to close your positions before the upgrade. Trading and liquidation will be paused during the upgrade. The mark price will adjust to the market price after the upgrade, so you won’t get liquidated once the system is back online.

5/ Get ready for the upgrade!! Traders should keep their account healthy (with leverage below 2x-3x) before the upgrade. If your margin ratio is less than 50% and you have open positions, you should consider add more collateral or close your positions before June 6th 15:30 UTC.

6/ When will the upgrade be done? You can find the latest information on the upgrade at status.optimism.io/ or by following @optimismFND on Twitter.

7/7 Post upgrade In theory, the gas price should go down by 47%. However, you might face high fees due to traffic when you transact post upgrade, so be careful. twitter.com/optimismFND/status/1665790668759769090?s=20