Brahma goes Multi-chain: Console is now Live on Arbitrum
Jan 11, 2024
~ 4 mins
Establishing a Presence on Layer 2s
While traditionally Ethereum has been the backbone of DeFi, its high gas cost has been a significant barrier to operating for smaller users that have migrated to other Layer 1 or Layer 2s.
Arguably, this restricts Ethereum’s value proposition only to bigger investors with the capital to carry out operations on the mainnet.
Our vision to simplify the way users interact with DeFi has led us to expand to complement our presence on Ethereum mainnet, where prohibitive fees restrict the realm of what’s possible on top of Console.
As part of our journey, we are positioning ourselves to launch on top of L2s where we can focus on optimising the frequency of on-chain operations, and provide the most value to users, starting with Arbitrum.
The lower fees and faster execution typical of L2s open up new use cases for Console users, which were not possible on the Ethereum mainnet.
While operations such as optimising positions over time are too costly on mainnet, L2s open up a new space for allocating and rebalancing positions actively, and frequently.
From active portfolio management to DAO compensation and Governance, Arbitrum fully unlocks the power of Brahma Console.
Aside from the mere cost difference, Arbitrum is also one of the most thriving DeFi ecosystems with a highly educated user base, enabling active and professional on-chain trading, as reflected in the Uniswap volumes across L2s.
Operating from the Ethereum mainnet often means weighing the cost-benefit of on-chain operations due to prohibitive gas costs.
This limitation creates a barrier to entry for smaller players and is especially pronounced in non-financial transactions, with operations such as microtransactions, voting, or active portfolio management that may be restricted or completely delegated off-chain, due to their expensive computational cost.
We aim to simplify the way users interact with DeFi, to establish an even playing field where optimal on-chain execution is not only restricted to institutional investors.
Our Arbitrum launch will empower users to leverage the power of Console to improve their asset management, governance, or operations, which were previously too expensive to carry out on-chain on mainnet.
Arbitrum stands out in the Ethereum ecosystem, with over $2.4b in TVL and 500+ live protocols.
Arbitrum’s DeFi ecosystem is highly interconnected, with yield-bearing assets being seamlessly composable across several protocols.
Console can support users as they navigate through this entangled landscape, empowering their DeFi operations through the use of automations or batched routines.
As DeFi gets increasingly complex, users interact with multiple protocols to manage their positions, a time-consuming process prone to errors.
Console makes these routines repeatable, automatable, and scalable.
Arbitrum is also renowned for its diverse mix of users, including sophisticated degens and on-chain native funds. To cater to this audience, Console’s expansion goes beyond DeFi operations, as it paves the way for more inclusive and secure access to asset management, governance, and operations.
In fact, among others, Arbitrum is fertile ground for DAOs and has a very active community involved in decentralised governance. Operations such as voting, DAO compensation, and other forms of governance are now more feasible and efficient, thanks to Console.
Among those, DAOs can automate their internal operations, as well as carry out voting operations without requiring multiple signatures at all times, thanks to Console Sub-Accounts.
Here’s how Console’s expansion to Arbitrum can help empower users
Sub-Accounts + Policies: Improved security through clear risk segregation across different Sub-accounts, from yield farming to trying protocols/farming points without getting rugged.
Creation of Sub-Accounts to delegate tasks with granular access control to which protocols, assets, and interactions Sub-Accounts can carry out, making the process trustless
Improved participation in Governance, with dedicated Sub-Accounts that do not require multiple signatures for each on-chain vote.
Improved DAO management with automated payroll, and operations management.
Arbitrum booms with innovations and new primitives, and introducing best practices of risk segregation helps users improve their portfolio management.
Additionally, policies allow users to layer security effectively, leaving some Sub-Accounts more open for experimentation, while others more restricted, where their scope is meant to be very specific.
The integration of Arbitrum at this point is instrumental to the upcoming launch of Lending Automations, our Batched Execution, as well as further automations.
Automations will complement sub-accounts through automated routines
Imagine a sub-account farming that automatically claims yield and auto-compounds it or swaps it for another token and uses it for borrowing.
The possibilities are endless.
We are already at work with selected Arbitrum protocols who have been extremely helpful in testing Console and helping us iterate leading to this launch.
We invite the broader Arbitrum community to join us in this exciting new chapter.Experience the enhanced capabilities of Brahma Console on Arbitrum.