Dunamu, the parent company of South Korea’s largest crypto exchange Upbit, introduced GIWA — a new Web3 infrastructure brand — at the Upbit Developer Conference in Seoul.
GIWA, short for Global Infrastructure for Web3 Access, bundles a layer‑2 network called the GIWA Chain and a mobile GIWA Wallet. The GIWA Chain is built on Optimistic Rollup technology to scale Ethereum‑like transactions, and is currently live on testnet. The GIWA Wallet is being shown as a demo at the conference and supports transfers across Ethereum, Base, Arbitrum, Avalanche, Polygon and the GIWA Chain, with broader chain support planned.
Dunamu framed the project as a domestic alternative to U.S. and Singapore‑centric ecosystems, aiming to make it easier for Korean developers to build and deploy Web3 apps. The company likened the network’s layered design to traditional Korean roof tiles — “giwa” — that stack to form a robust structure.
The announcement follows earlier trademark filings and a new site that briefly featured a countdown, fueling launch speculation. Dunamu has not set an official wallet launch date.
Why it matters
By combining a layer‑2 rollup with a multi‑chain wallet, Dunamu is positioning GIWA as an on‑ramp for local builders and businesses that want lower fees and faster transactions than mainnet Ethereum. However, readers should note the platform is in testnet: networks in early stages can change rapidly and are not ready to hold real funds. New chains also raise questions about security, decentralization and developer adoption compared with established rollups.
Source: CoinDesk. Read the original coverage for full details.