Pontem, a studio dedicated to developing Move and EVM-compatible products, announced the launch of Lumio, a Layer 2 solution to promote Web3 in a more secure, performant, and development-friendly direction. Lumio aims to solve the scaling challenges of Ethereum and bring a Web2-like experience to millions of users on Web3. By leveraging high-throughput chains like Aptos to sequence transactions, Lumio enhances transaction bandwidth while retaining Ethereum’s own security and liquidity.
Lumio is an Optimistic Rollup network built on the OP stack open source stack, which has three unique advantages.
First, it will be settled on top of Ethereum and use other L1s (especially Aptos) to process transactions, achieving low latency and high throughput while also directly utilizing the liquidity advantages of Ethereum; secondly, Lumio is compatible with Move As well as EVM, developers can not only continue to use Solidity, but also use Move to build applications; finally, Lumio also adopts a Dapp-centered gas economic model to enable application developers to benefit from network usage.
Alejo Pinto, co-founder of Pontem, said:"With the launch of Lumio, Pontems L2 solution, creating Web2-like experiences on Web3 is becoming closer to reality. Most of the value of Web3 is locked in the Ethereum ecosystem in the form of ETH and ERC 20 tokens, but compared to existing L2, Aptos has better performance and lower cost, and can be compared with Ethereum The reliability of settlement is combined to utilize the existing L1 to achieve capacity expansion. Pontem is realizing the vision of scaling Ethereum horizontally using interoperable L2 to meet the concurrent needs of millions or even billions of users."
The Move Virtual Machine (VM) represents a major advancement in secure, high-performance Dapp development. By adopting parallel execution, Move VM achieves significant scaling efficiency. When processing transactions on high-performance blockchains such as Aptos, it can theoretically reach 100,000 transactions per second (TPS), which can greatly improve user experience. From a security perspective, Move VM also introduces innovative features such as the atomic resource model, local validators, formal verification, and more. The Rust-based Move VM was originally built by Meta, one of the worlds largest technology companies, and is specifically designed for smart contract development.
In the first phase, Lumio L2 will become part of the Optimism Superchain ecosystem in order to leverage the liquidity and user network effects of other L2s such as Base and Mantle. Pontem will also look to expand its presence in this ecosystem as it builds interconnected L2 network architectures on top of other ecosystems such as Arbitrum and zkSync.
The Lumio testnet is now online, for more details please visithttps://lumio.io/And follow @LumioFDN on Twitter.
About Pontem
As a product development team, Pontem is committed to developing Move and EVM-compatible products to achieve a safer, more performant, and more development-friendly Web3. Pontems Move VM platform enables developers to build high-performance projects based on Move and EVM without relying entirely on Ethereums complex programming language Solidity. Pontems products include Pontem Wallet for the Aptos ecosystem and Liquidswap AMM DEX, among others. With the support of Lightspeed, Pantera, Animoca and other prominent VCs, Pontem is building fundamental decentralized applications and infrastructure to accelerate blockchain adoption and drive global finance toward inclusion.
