What is the role of Dunamu and Optimism in the cryptocurrency landscape? Dunamu, a prominent South Korean financial technology company, is enhancing its GIWA Chain by partnering with the Optimism Foundation. This collaboration uses the OP Stack, integrating GIWA Chain into the Optimism framework, which is aimed at improving blockchain performance and usability in the Web3 environment.
GIWA Chain is an Ethereum layer 2 solution designed for increased accessibility and efficiency. It offers rapid execution with one-second block times and is compatible with existing Ethereum development thanks to its EVM support. The chain is currently operational on a testnet, having successfully processed nearly 100 million transactions as of early May, and is set to move to the mainnet shortly.
With the establishment of a non-binding memorandum of understanding with the Optimism Foundation, GIWA Chain is anticipated to be the inaugural deployment of the Self-Managed tier within OP Enterprise. This framework allows blockchain operators to maintain optimal control over their systems. Upbit will oversee the primary sequencer and core decisions while benefiting from Optimism's robust support system, which includes critical monitoring and backup capabilities to enhance security and reliability.
The decision to operate a dedicated GIWA Chain is a strategic initiative by Upbit. The objective is to deliver a high level of performance and regulatory compliance for institutional and retail users alike. The Self-Managed tier empowers Dunamu to maintain operational command while leveraging proven infrastructure to meet scalability and governance demands.
Dunamu, which introduced Upbit in 2017, has since established the exchange as a leader in South Korea, boasting over 13 million registered users. Between 2020 and 2024, Upbit ranked second globally for cumulative spot trading volume, according to CoinGecko.
Industry trends indicate a strong desire among major exchanges and institutional players to own rather than lease blockchain infrastructure. Upbit's move to launch under the OP Enterprise Self-Managed structure reflects not only its growth strategy but also a shift in trust towards established infrastructure capable of handling significant transactional loads.
Additionally, Dunamu is pursuing a merger with Naver Financial, aiming to close this deal by late 2026. This merger could culminate in a massive fintech entity valued at approximately 20 trillion Korean won, or roughly $13.5 billion. Plans are also in progress to introduce stablecoins tied to the Korean won for everyday transactions, further solidifying GIWA's role in a comprehensive fintech ecosystem.