Upbit Parent Dunamu Unveils Layer-2 Blockchain GIWA
Dunamu, the company behind South Korea’s leading crypto exchange Upbit, has introduced GIWA, a new Web3 infrastructure brand. GIWA is built on an Optimistic Rollup Layer-2 (L2) blockchain, designed to enhance scalability and efficiency for decentralized applications. Alongside the blockchain, Dunamu is also rolling out a multi-chain wallet, aiming to simplify asset management across different networks.
The launch of GIWA has put Upbit’s Layer-2 blockchain firmly on developers’ radar. A testnet is now live, allowing developers to experiment and integrate applications, while a wallet demo is already available for users to explore. This initiative highlights Dunamu’s commitment to advancing South Korea’s Web3 ecosystem and supporting blockchain innovation.
What Dunamu announced at UDC Seoul
At the Upbit Developer Conference (UDC) in Seoul, Dunamu introduced GIWA Chain and GIWA Wallet under a single banner aimed at making Web3 tooling easier for builders and users at home and abroad. With the Upbit GIWA layer-2 blockchain, Dunamu positions itself alongside exchanges that now operate their own networks while keeping a strong Korea-first lens.
Key points
GIWA Chain: Layer-2 built on Optimistic Rollup tech; currently available in testnet.
GIWA Wallet: Mobile wallet demo shown at UDC; supports transfers and storage across Ethereum, Base, Arbitrum, Avalanche, Polygon, and GIWA Chain, with more chains planned.
Naming inspiration: “Giwa” are traditional Korean roof tiles that interlock in layers an analogy for stacking secure data and applications.
Optimistic Rollups, simply put
Optimistic Rollups batch many transactions off-chain, post compressed data to a base layer, and rely on fraud proofs to keep everyone honest. For the Upbit GIWA layer-2 blockchain, that means:
Throughput and fees:
Higher capacity and lower gas compared with L1.Smart contracts:
Compatibility with EVM-style development, making migration easier.Security model:
The underlying L1’s security plus challenge windows for fraud detection.
This blend caters to consumer apps that need speed and low fees without reinventing developer workflows.
Multi-chain today, broader roadmap tomorrow
The GIWA Wallet demo underscores Dunamu’s intent to meet users where their assets already are. By supporting major networks from day one and GIWA Chain itself the wallet lowers the barrier for onboarding into the Upbit GIWA layer-2 blockchain ecosystem. Dunamu hasn’t set a final launch date yet, but says chain support will expand and user experience will be streamlined for everyday transfers, sign-ins, and dApp interactions.
Why it matters for Korea’s Web3 ecosystem
Dunamu frames GIWA as a local alternative to U.S. and Singapore-centric infrastructures. For Korean builders, a home-grown stack can reduce friction around compliance, language, and support while still connecting to global liquidity. If adoption grows, the Upbit GIWA layer-2 blockchain could become a regional hub for gaming, social, and fintech dApps that care about low fees and mobile-first UX.
What’s next
With testnet open and a dedicated website live, the next milestones include mainnet timing, wallet GA, and early ecosystem apps. Expect grants, hackathons, and integrations to seed momentum on the Upbit GIWA layer-2 blockchain as Dunamu courts developers from Korea and beyond.
Conclusion
GIWA marks Dunamu’s evolution from a crypto exchange operator to a full-fledged Web3 infrastructure provider. By launching the Upbit GIWA Layer-2 blockchain, the company aims to offer developers a scalable and efficient platform for building decentralized applications while maintaining a seamless user experience.
If executed successfully, GIWA could provide Korean developers a familiar entry point for creating high-performance apps, bridging local innovation with global blockchain networks. The initiative underscores Dunamu’s ambition to expand beyond exchange services and play a central role in shaping South Korea’s Web3 ecosystem.
FAQs
Q1 . What is the Upbit GIWA layer-2 blockchain?
A : It’s Dunamu’s Optimistic Rollup network designed for faster, cheaper transactions and EVM-compatible smart contracts.
Q2 . Which chains does GIWA Wallet support at launch?
A : The wallet demo supports Ethereum, Base, Arbitrum, Avalanche, Polygon, and the Upbit GIWA layer-2 blockchain, with more to come.
Q3 . Is the Upbit GIWA layer-2 blockchain live?
A : A public testnet is available now; mainnet timing and the wallet’s official release date haven’t been announced.
Q 4 . Why did Dunamu create GIWA?
A : To offer a locally anchored alternative to U.S./Singapore-centric Web3 stacks and to onboard Korean developers to scalable apps on the Upbit GIWA layer-2 blockchain.
Q5 . How does Optimistic Rollup benefit users and devs?
A : It increases throughput, reduces fees, and keeps EVM familiarity so teams can ship faster on the Upbit GIWA layer-2 blockchain.