Lambda is about to launch a permanent storage DA network, leveraging DAS technology to provide data sampling services for Ethereum’s permanent data availability layer

💡TL;DR

• Lambda Network Upgrade: Transition from Lambda’s original consensus network to an OpStack-based Layer 2 network.
• Lambda DA Technology Upgrade: Providing Permanent DA services for Ethereum Rollups, ensuring data integrity and availability through DAS technology.
• Asset Upgrade: ERC20 LAMB will migrate on a 1:1 basis to a new contract, with the new token named $LAMBDA. The migration of $LAMB tokens already listed on CEXs will proceed gradually. All updates will be based on forthcoming announcements and exchange notifications.

I.Evolution from Distributed to Modular Storage on EVM

Since its establishment in 2018, Lambda has been a vanguard in storage and DePIN sectors, particularly excelling in Data Availability Sampling (DAS) and Proof of Long-term Data Possession (LPDP). Securing significant funding from major investors like Bitmain, Lambda quickly established a strong presence on major trading platforms.

By 2023, Lambda had evolved into a modular blockchain ecosystem supporting the Ethereum Virtual Machine (EVM) and leveraging smart contracts for efficient storage settlements. Additionally, Lambda has established a leading and thriving NFT ecosystem, with hundreds of prominent artists issuing hundreds of thousands of NFT assets through Lambda’s blockchain and storage services.

II.Comprehensive Upgrade to Ethereum Layer2

After three stable years running on LPDP technology, Lambda is undergoing a significant transformation, transitioning from its proprietary consensus network to the Ethereum Layer2 network.

This strategic shift aims to enhance infrastructure capabilities and integrate more deeply into the Ethereum ecosystem. The new Ethereum Layer2 blockchain, powered by Opstack, will better serve applications involving Rollups and AI by focusing on persistent data availability. This includes the use of PDP algorithms and Zero-Knowledge Proof tools (ZKG) for DAS to ensure continuous data storage.

The move to Ethereum Layer2 marks a strategic integration, enhancing the synergy between data availability services and AI functionalities, significantly improving Lambda’s network economy, compatibility, scalability, security, and simplifying development and maintenance efforts.

III.Lambda DAS Services: Providing Reliable Data Integrity Proofs for Ethereum’s Permanent DA

Within the Ethereum ecosystem, data availability (DA) will be a key focus for the next industry cycle, with DA, staking, and restaking already becoming core themes for the next decade. Facing the scalability challenges known as the blockchain trilemma, there is a crucial need to balance decentralization, scalability, and security. Rollups address this by moving transactions off-chain.

Lambda capitalizes on its existing LWS storage capabilities combined with PDP and ZKG to enhance DAS verification and integrate into Ethereum’s security framework, adopting an innovative approach to solve DA issues. This strategic alignment not only enhances Lambda’s DA solutions but also significantly contributes to the Ethereum ecosystem, especially in providing AVS, L2 solutions, and staking services.

Lambda DA’s Position within the Ethereum Ecosystem

IV.Asset Contract Upgrade and Multi-Chain Liquidity Incentives

The upgrade of the $LAMB ERC20 token to the new $LAMBDA is a key strategic decision, aimed at integrating the robust security features of the Ethereum ecosystem to enhance Lambda’s security. This upgrade not only ensures transaction security within the Lambda network but also facilitates the integration of the new token $LAMBDA into the Ethereum ecosystem, thereby achieving more substantial liquidity.

In the upcoming updates to our token economic model and smart contracts, we will implement a 1:1 migration from the original ERC20 network and Lambda mainnet asset $LAMB to the new $LAMBDA token; additionally, we will cap the total supply of $LAMBDA tokens and introduce new burning and destruction mechanisms. The Lambda ecosystem fund will also launch long-term exciting liquidity rewards and restaking incentives for storage and DA services.

Based on the above context, we will make the following upgrades and adjustments to the $LAMB asset:

1.ERC20 $LAMB will migrate on a 1:1 basis to a new contract, with the new token named $LAMBDA,which will not affect the value of your assets;

2.Total supply cap: The model is limited to a maximum of 10 billion:

• The original total issued supply of $LAMB was 10 billion, with an initial circulating supply of 6 billion and 4 billion allocated for storage mining and consensus network rewards. All of the initial issuance has already been circulated;
• The total supply of the new $LAMBDA is 10 billion, with an initial circulating supply of 6 billion. The remaining 4 billion will be locked in a contract for the ecological fund, to be entirely used for community building in the future.

The above data is sourced from CoinMarketCap(https://coinmarketcap.com/).

3.Asset migration from $LAMB to $LAMBDA via a contract, with a 1:1 exchange ratio, which will not affect the value of your assets;

4.Liquidity incentives: The new LAMBDA asset will fully support DEX trading. We will provide ample liquidity and user incentives on DEXs such as Uniswap(https://app.uniswap.org/swap);

5.ReStaking incentives: Introducing the new Lambda DA and LWS storage services, we will offer high yield ReStaking incentives based on the EigenLayer framework to maintain network security;

6.For the migration process and user operations, please follow our subsequent announcements: Migration will be conducted through an interface we provide, with specific steps and instructions to be released soon. Please follow our official channels to stay updated. We will ensure that the migration process is simple, secure, and minimizes impact on users.

As the blockchain landscape continues to evolve, this upgrade of Lambda signifies our commitment to addressing the critical need for long-term data availability, supporting the rapid demand for dApps, and fostering the growth of generative AI. By aligning our LDA and LWS service offerings with Ethereum’s robust infrastructure through DAS technology, we are making significant contributions to the scalability, security, and efficiency of the Ethereum ecosystem.