WuBlockchain
Dunamu, the parent of South Korean exchange Upbit, has signed an MOU with the Optimism Foundation to co-develop GIWA Chain — an OP Stack-based Layer 2 first announced by Upbit in September 2025. The project is the inaugural deployment under Optimism's new OP Enterprise Self-Managed model, which gives the deploying party control of the primary sequencer and core network decisions while the Optimism Foundation contributes engineering support, monitoring, and backup sequencer infrastructure.
Why it matters
The OP Enterprise tier extends Optimism's permissioning surface beyond the standard Bedrock and fault-proof setups that govern the Superchain. Under the self-managed variant, Dunamu / Upbit becomes the chain's effective steward: it runs the sequencer that orders transactions, decides on upgrades to network parameters, and carries the operational burden of running an L2 at production scale. Optimism's role shifts to infrastructure vendor and integrator rather than principal operator — closer to a reference-customer relationship than a joint venture.
The structure reads as a template Optimism has been positioning for: a way to land large enterprise L2 operators without ceding Superchain consensus authority or requiring them to adopt a governance posture they'd resist. For a regulated-venue operator like Upbit, full sequencer control keeps custody-of-user-flow decisions inside the parent group rather than at the foundation layer.
Market impact
The near-term read is institutional rather than market-moving: $ETH settles on the OP Stack as before, $OP governance parameters stay with the foundation, and the token's value capture depends on whether more large counterparties follow Dunamu's lead into the self-managed tier.
Frequently asked questions
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What is GIWA Chain?
GIWA Chain is an OP Stack Layer 2 first announced by South Korean exchange Upbit in September 2025. It is being co-developed with the Optimism Foundation and is the first deployment under Optimism's new OP Enterprise Self-Managed model.
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Who runs the sequencer on GIWA Chain?
Dunamu, Upbit's parent company, will operate the primary sequencer and retain control over core network decisions. The Optimism Foundation contributes engineering support, monitoring, and backup sequencer infrastructure.
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What is the OP Enterprise Self-Managed model?
It is a new deployment tier from the Optimism Foundation that lets a single enterprise counterparty control the primary sequencer and core network decisions, while the foundation provides engineering support, monitoring, and backup infrastructure in a vendor-style relationship.
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Is GIWA Chain part of the Optimism Superchain?
GIWA Chain is built on the OP Stack, the framework that powers the Superchain and L2s like Coinbase's Base. Under the Self-Managed tier, Dunamu keeps operational control of the sequencer while the foundation retains a supporting engineering role.
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What is the market impact of the announcement?
Near-term the announcement is institutional rather than token-moving: ETH still settles on the OP Stack and OP governance parameters stay with the foundation. The bigger signal is whether other Asia-Pacific exchanges follow Dunamu into the Self-Managed tier, which would validate the model as a broader institutional…
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