02 Sep Offchain Labs Launches – Startup Raises $ 120 Million
On August 31, 2021, Offchain Labs Stock News announced the official launch of the Arbitrum One mainnet and detailed that the company has raised $ 120 million in funding. Series B funding led by Lightspeed Venture Partners gives the company a $ 1.2 billion valuation.
Arbitrum One Mainnet Available, Autonomous Lab Raises $ 120 Million Funding Offchain Labs Stock News
Offchain Labs has announced the highly anticipated Arbitrum One mainnet launch and has also reported that the startup has raised $ 120 million in funding. Bitcoin.com News wrote about the Arbitrum One Layer2 scaling solution in a number of cases, such as the leverage protocol. An optimistic accumulator that helps Ethereum scale. Several popular decentralized finance (defi) projects use the Arbitrum portal to provide users with higher rates and faster action.
Arbitrum technology uses defi projects such as Aave, Balancer, Band Protocol, Wallet, Chainlink, Curve, DAI stablecoin, Etherscan, Dodo, Metamask, Shapeshift, Sushiswap, Uniswap and others. In addition to the launch, Offchain Labs said the startup has raised $ 120 million in funding led by Lightspeed Venture Partners. including TV host Shark Tank and billionaire Mark Cuban, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital and Alameda Research.
Over 400 Projects Leverage Arbitrum’s Technology, Synfutures Implements Arbitrum
Bitcoin also reported on how the popular online forum site Reddit is using Arbitrum technology with an Ethereum-based community points system. “[Offchain Labs] ‘s dedication to the Ethereum developer community is unmatched and they have the best and simplest scalable product. This is why over 400 projects have been selected to launch with Arbitrum, including Reddit, “Lightspeed partner Amy Wu said in a statement.
Several other projects have also received support. The project is” now deployed to Arbitrum One. ” the number of investors entering the decentralized derivatives space, we want them to be where they are, ”explains Rachel Lin, Founder and CEO of Synfutures. Offchain Labs Stock News
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