crypto-economy.com
TL;DR
- Optimism reserves $3 billion in tokens to provide grants to its blockchain builders.
- The initiative includes four rounds of funding throughout 2024, targeting different aspects of the community and development of Optimism.
- Vitalik Buterin praises the dedication to financing public goods and hopes that more projects will adopt similar mechanisms in the future.
Optimism, a layer 2 scaling network for Ethereum, has announced an unprecedented initiative aimed at supporting the development of its blockchain ecosystem.
With the reserve of $3.3 billion in Optimism (OP) tokens, the platform seeks to foster innovation and collaboration within its community.
This massive financing will be divided into four different rounds throughout 2024.
The first of these rounds, scheduled for May, will focus on retroactive public goods financing (RPGF).
This approach allows the community to reward those projects and contributors that have demonstrated their value to the ecosystem.
Subsequent rounds will target specific areas such as infrastructure, governance and development tools, ensuring that all vital aspects of the network receive financial support.
The highlight of this initiative is its focus on financing public goods, even when these projects do not have a clear business model.
This Optimism strategy, backed by more than $100 million distributed in the third round of RetroPGF
This fact serves as a tangible manifestation of Optimism’s unwavering dedication to fostering sustainable growth and equity within its vibrant community ecosystem.
The response from Vitalik Buterin, one of the co-founders of Ethereum, serves to underscore the significance of this endeavor.
Over $100m distributed in @Optimism RetroPGF round 3.
Really impressed to see their ongoing commitment to funding public goods, helping devs and others contribute to Ethereum even if they lack a business model.
Hope to see more projects doing QF and RPGF rounds in the future! https://t.co/igZCTsnNLt pic.twitter.com/JFGB1MNDDS
— vitalik.eth (@VitalikButerin) January 11, 2024
Praising the project’s commitment to financing public goods, Buterin emphasizes the need for more projects to adopt similar mechanisms, such as Quadratic Financing (QF) and retroactive financing (RPGF) rounds.
Their backing highlights the potential transformational impact of such approaches in fostering innovation and fostering collaboration within the broader blockchain community.
Optimism’s bold initiative signifies a substantial leap forward in advancing the ethos of inclusivity and sustainability within the ever-evolving landscape of innovation.
By setting aside such a considerable sum to fund public goods and community projects, Optimism demonstrates its commitment to creating a more equitable and resilient ecosystem for the long term.