Connext is a state channel network enabling crosschain/cross-L2 communication and ultra-high-volume micropayments. As of May 9th, Connext handles $17m in weekly volume growing at 68% week over week.
Note: State channel networks are not consensus systems but are instead structurally similar to TCP/IP.
Determined by routers (LPs) and eventual fee market. Right now, ~0.05% for crosschain transfers.
Scale-free (i.e. can add more tps by adding more routers)
Same as transacted token. E.g. USDC payment -> USDC fees.