RACE Launches First Layer 2 Blockchain Purpose-Built for Real-World Asset Tokenization, Joins Optimism's Superchain

RACE has now joined the Optimism Superchain, alongside OP Mainnet and Base, bringing greater asset interoperability, speed, and safety to its users

LONDON, July 25, 2024 /PRNewswire/ -- RACE, the first full-stack modular blockchain infrastructure platform designed specifically for tokenizing and distributing real-world assets (RWAs), today announced the mainnet launch of its Ethereum Layer 2 (L2) blockchain built on Optimism's OP Stack, a leading Ethereum scaling solution. In tandem with the launch, RACE is joining Optimism's Superchain, a network of chains that are built on the OP Stack and contribute revenue back to the Optimism Collective, the third self hosted chain to do so alongside OP Mainnet and Base.

The mainnet launch of RACE's EVM-compatible Layer 2 blockchain protocol signifies a major milestone for RACE in its mission to create a global, decentralized marketplace run by its users for tokenized RWAs using its ATB Layer (Asset To Blockchain Layer). The tokenized assets will include trade finance, private debt, private equity, real estate, commodities, art, and luxury collectibles.

Furthermore, the launch unlocks several key benefits for users and the broader tokenized asset ecosystem. With the integration of Optimism's Layer 2 technology, users can now invest in tokenized RWAs with near-instant transaction finality and significantly reduced fees compared to transacting on the Ethereum mainnet, without compromising on security. This improved efficiency is crucial to support a thriving global marketplace of tokenized assets accessible to investors worldwide. By contributing to the Superchain, RACE will also benefit from the network's governance structure, scalability, and interoperability, in turn providing users with substantial cost reductions and enhanced speed and safety.

"The launch of our L2 mainnet is a significant step forward in our journey to revolutionize how RWAs are owned, traded, and managed on a global scale," said Miguel Buffara, Core Contributor and Lead Finance Engineer at RACE. "By leveraging the shared security and scalability granted by the Superchain, we're able to truly focus on enhancing our infrastructure and provide investors with seamless access to a diverse range of tokenized assets through our ATB Layer, in a compliant and trusted environment for asset owners, issuers and liquidity providers."

Assets tokenized on RACE will gain exposure to Optimism's growing ecosystem of decentralized applications, exchanges, and liquidity pools. This connectivity enables seamless cross-chain trading and enhances liquidity for tokenized assets, creating a more powerful and versatile market. Projects and developers building on RACE's infrastructure can also leverage Optimism's extensive suite of tools, SDKs, and documentation, accelerating the development of new applications and services within the RACE ecosystem.

"We're thrilled to welcome RACE to the Superchain in tandem with its L2 mainnet launch, a testament to our support for RACE as it sets to unlock access to tokenized assets for community members globally," said Mark Gerhart, Ecosystem Partnerships Lead at Optimism. "RACE's approach to creating a decentralized and compliant infrastructure environment, in which participants with varying degrees of familiarity with tokenized assets can easily propose, buy, or sell assets, is much needed in this next era of web3 development."

RACE is committed to establishing a secure and transparent ecosystem for digital asset management, employing stringent security protocols, risk mitigation strategies, and an innovative Decentralized Investment Committee (DIC), composed of legal, financial, and industry experts to ensure the integrity of the tokenization process, enhance platform trustworthiness, and maintain Know Your Customer and compliance practices.

"As pioneers of DIC-based decentralized due diligence, we see our mainnet launch as an opportunity to set a new standard for trust and transparency in the tokenized asset space," said Krisanth Sivarajh, Core Contributor and Director of Project Management at RACE. "We look forward to welcoming investors and asset owners to experience the next generation of borderless, frictionless investing on RACE."

The RACE mainnet launch follows a successful $5 million funding round and L2 testnet phase completed in 2024, and recent partnership announcements with Bridge.xyz and DFNS, which enable RACE to provide lower transaction costs and 'keyless' password-based wallets, respectively, for a more seamless user experience.

To learn more about RACE, visit raceecosystem.com and follow on Twitter at @RACEecosystem. To learn more about RACE's Foundation, visit race.foundation.                                            

ABOUT RACE

RACE is a full stack, EVM-compatible Modular layer two protocol, designed to serve as the first truly global tokenized infrastructure and decentralized Real World Asset (RWA) marketplace. Governed by its users and decentralized investment committee members, the platform was built with the goal of integrating non-crypto native financially savvy investors. RACE is building everything from interoperable non-custodial wallets to decentralized investment committees into the infrastructure. Vetted assets from trade finance, private credit, real estate to fine art can be tokenized by owners and sponsors to be listed on the platform infrastructure, by first digitizing assets through its ATB layer and then financializing these assets, thus endowing them with financial instrument properties. Many of these assets were in the past inaccessible to many global investors.

Media Enquiries:

Wachsman
wachsman@race.foundation