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3d ago

Upbit Launches GIWA, an Ethereum Layer-2, at UDC 2025

The debut signals Upbit’s shift into blockchain infrastructure with a public developer testnet now available.

Upbit unveils GIWA, a fast Ethereum Layer 2 with 1-second blocks
Upbit parent files ‘giwa’ trademarks amid rumors of new blockchain launch
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Upbit operator rumored to launch GIWA chain

Overview

  • Upbit introduced GIWA as an Ethereum Layer-2 network at its 2025 developer conference, positioning it to reduce fees and congestion by settling transactions on Ethereum.
  • A testnet is live for developers and early users, including a faucet for airdrops, and early data shows support for roughly 8,000 wallet addresses.
  • Initial focus targets decentralized finance and applications, with plans for a dedicated wallet, an official bridge, and a native swap service.
  • The roadmap includes an on-chain proof feature called Dojang and a GIWA ID naming system similar to ENS to support identity and verification.
  • GIWA currently uses ETH as the gas token and there is no indication of a public native token at this stage, following weeks of teasers and trademark filings tied to the GIWA brand.