Offchain Labs launches Arbitrum One Mainnet – startup raises $ 120 million

On August 31, 2021, Offchain Labs announced the official launch of the Arbitrum One mainnet and went on to state that the company has raised $ 120 million in funding. The Series B funding, led by Lightspeed Venture Partners, gives the company a valuation of $ 1.2 billion.

Arbitrum One Mainnet is now live with Offchain Labs raising $ 120 million in funding

The highly anticipated launch of the Arbitrum One mainnet was unveiled by Offchain Labs, and the startup also said the company raised $ 120 million in funding. Bitcoin.com News has written about the Arbitrum One Layer-2 scaling solution on a couple of occasions as the protocol uses optimistic rollups to aid in the scaling of Ethereum. A number of popular decentralized finance projects (defi) use Arbitrum’s gateway to provide users with better fee rates and faster action.

Arbitrum’s technology is used by Defi projects such as Aave, Balancer, Band Protocol, Coinbase Wallet, Chainlink, Curve, DAI Stablecoins, Etherscan, Dodo, Metamask, Shapeshift, Sushiswap, Uniswap and many more. In addition to its launch, Offchain Labs announced that the startup has raised $ 120 million in funding led by Lightspeed Venture Partners. Other Offchain Labs investors included TV host and billionaire Shark Tank, Mark Cuban, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, and Alameda Research.

Over 400 projects use Arbitrum’s technology, Synfutures implements Arbitrum

Bitcoin.com News also reported on how popular online forum website Reddit is using Arbitrum’s technology with their Ethereum-based community points system. “[Offchain Labs’] The commitment to the Ethereum developer community is second to none and they have the best and easiest to use scalability product. That’s why over 400 projects have chosen to start with Arbitrum, including Reddit, ”said Amy Wu, partner at Lightspeed, in a statement.

In addition, several other projects have added Arbitrum One support to help ensure the mainnet launch. The decentralized futures exchange Synfutures announced on Wednesday that the project was “now deployed on Arbitrum One”. “As we support the multitude of investors entering the decentralized derivatives space, we want to be where they are. In a short period of time, Arbitrum has established itself as one of the most promising chains in the industry, so the integration was a natural fit for us, ”said Rachel Lin, founder and CEO of Synfutures.

What do you think of the launch of Arbitrum One-Mainnet and Offchain Labs that raised $ 120 million? Let us know what you think on this matter in the comments below.

Tags in this story

$ 120 million, Amy Wu, Arbitrum, Arbitrum One, DAI-Stablecoins, Dodo, Ethereum Scaling, Etherscan, L2 solution, Layer 2, Lightspeed Venture Partners, Mainnet Start, Metamask, Offchain Labs, Optimistic Rollups, Rachel Lin , Scaling, Series B, Shapeshift, Sushiswap, Synfutures, Uniswap

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

They assist quick sellers after they earn curiosity on bitcoin Bitcoin

They assist quick sellers after they earn curiosity on bitcoin

Why do institutes issue interest-related payments on your Bitcoin deposits?The only reason is that...

By wpadminsonic164
Educating Monetary Schooling within the Age of Bitcoin Bitcoin

Educating Monetary Schooling within the Age of Bitcoin

I recently met with a group of high school graduates who are going to...

By wpadminsonic164
Hier ist, warum Bitcoin Ihre Hoffnung im Leben verjüngt Bitcoin

Hier ist, warum Bitcoin Ihre Hoffnung im Leben verjüngt

Ein düsterer Ausblick in die Zukunft ist angesichts der Ereignisse der letzten 18 Monate...

By wpadminsonic164
How Marco Falke maintains the Bitcoin community Bitcoin

How Marco Falke maintains the Bitcoin community

Last week, Bitcoin developer Marco Falke logged his 1,752. Committed to the Bitcoin Core...

By wpadminsonic164
Africa now has the most important quantity of Bitcoin peer-to-peer buying and selling on the planet Bitcoin

Africa now has the most important quantity of Bitcoin peer-to-peer buying and selling on the planet

According to data from the analysis platform UsefulTulips, Africa has developed into the continent...

By wpadminsonic164
Substack E-mail Subscription Platform Provides Bitcoin Lightning Funds Bitcoin

Substack E-mail Subscription Platform Provides Bitcoin Lightning Funds

The independent online publisher Substack, with over half a million subscribers, announced on Monday...

By wpadminsonic164
The Satcomma Commonplace: This Is How You Ought to Look At Bitcoin Bitcoin

The Satcomma Commonplace: This Is How You Ought to Look At Bitcoin

An integer notation scheme for sub-decimal amounts in BitcoinRegardless of what wallet software we...

By wpadminsonic164
How bitcoin mining advanced to take us to the moon Bitcoin

How bitcoin mining advanced to take us to the moon

Bitcoin hasn't even reached its teenage years. When Satoshi published his whitepaper on creating...

By wpadminsonic164

Latest Posts

They assist quick sellers after they earn curiosity on bitcoin Bitcoin

They assist quick sellers after they earn curiosity on bitcoin

Why do institutes issue interest-related payments on your Bitcoin deposits?The only reason is that...

By wpadminsonic164
Cardano plans to showcase expertise throughout the African continent after Ethiopia deal – The Each day Hodl Cardano

Cardano plans to showcase expertise throughout the African continent after Ethiopia deal – The Each day Hodl

The Director of African Operations at Input Output (IOHK) outlines the team's plan to...

By wpadminsonic164
ALERT!!🚨SHOCK BITCOIN MOVE!! I'M BUYING ETHEREUM!!! CRYPTO NEWS & ALTCOIN PRICE TARGETS!! Videos

ALERT!!🚨SHOCK BITCOIN MOVE!! I'M BUYING ETHEREUM!!! CRYPTO NEWS & ALTCOIN PRICE TARGETS!!

URGENT!!! BITCOIN SHOCK MOVE!! WILL CRYPTO MARKETS CRASH AGAIN?!!!! NEW BITCOIN PRICE TARGET!! MICROSTRATEGY...

By wpadminsonic164
Cardano (ADA) cooperates with a college in Luxembourg to make training in Africa extra accessible »Crypto Insiders – Aviation Evaluation Wing Cardano

Cardano (ADA) cooperates with a college in Luxembourg to make training in Africa extra accessible »Crypto Insiders – Aviation Evaluation Wing

Input Output Hong Kong (IOHK), behind the team Cardano (ADA), She has recently announced...

By wpadminsonic164
Educating Monetary Schooling within the Age of Bitcoin Bitcoin

Educating Monetary Schooling within the Age of Bitcoin

I recently met with a group of high school graduates who are going to...

By wpadminsonic164
Hier ist, warum Bitcoin Ihre Hoffnung im Leben verjüngt Bitcoin

Hier ist, warum Bitcoin Ihre Hoffnung im Leben verjüngt

Ein düsterer Ausblick in die Zukunft ist angesichts der Ereignisse der letzten 18 Monate...

By wpadminsonic164
Cardano publishes new all-time excessive and ranks third from Binance Coin – bitcoinist.com Binance

Cardano publishes new all-time excessive and ranks third from Binance Coin – bitcoinist.com

The monster wins for Cardano over the past two weeks have resulted in ADA...

By wpadminsonic164
Prime Cryptocurrency Costs In the present day: XRP, Dogecoin Falling;  Solana wins 16% – Financial Occasions Dogecoin

Prime Cryptocurrency Costs In the present day: XRP, Dogecoin Falling; Solana wins 16% – Financial Occasions

New Delhi: Major cryptocurrencies extended their losses on Friday as investors continued to make...

By wpadminsonic164