Powerloom Protocol

🚨 OP Stack has dropped support for custom gas tokens.

https://x.com/OPLabsPBC/status/1894827795832021145

It's a disappointing development, especially with the Ethereum Pectra upgrade around the corner. 

We're left with NO choice but to migrate our chain — Powerloom L2 is moving to @arbitrum (💙,🧡)

More details in 🧵

The OP Stack custom gas token beta feature has been deprecated. Beta features give developers access to early versions of highly requested features, allowing us to validate demand through usage data and user feedback.

OP Labs

Official account of the Arbitrum Foundation.

https://arbitrum.io/

The composable data network for web3 $POWER

check out /powerloom for community discussions

https://powerloom.io

Sticking to the OP Stack means: 

❌ Resetting the chain by dropping native L2 $POWER & using $ETH as the gas token
❌ Making substantial changes to our UX & audited protocol/contracts

This will have an unsustainable impact on the protocol, associated operators, and users.

❗The migration ONLY applies to Powerloom L2. 

$POWER tokens on Ethereum will NOT be affected. L1 transactions & trading will remain uninterrupted.

💪 Our core devs are already testing changes on the Devnet to minimize effort and intervention required by snapshotters, stakers, & $POWER holders. 
 
We will share the detailed transition plan & necessary guides by the end of next week. For now, continue using Powerloom as usual 🤝

📍WHY Arbitrum Orbit

✅ We battle-tested the infra with @OnchainPoints 

✅ @OffchainLabs has confirmed their commitment to intensifying efforts on custom gas tokens

✅ With faster finality, users experience quicker L2 → L1 withdrawals