The primary entities backing the Arbitrum blockchain, Offchain Labs and the Arbitrum Foundation, have introduced a new initiative aimed at supporting early-stage projects within the ecosystem.
This initiative, called “Onchain Labs,” is intended to offer go-to-market assistance for “experimental and volatile” projects, as detailed in a blog post by Offchain Labs, the lead developer for Arbitrum.
“With Onchain Labs, we’re committing resources to assist developers eager to quickly enhance the application layer by collaborating from the ground up to create the best user experiences on Arbitrum,” the post stated. “As with numerous Arbitrum teams, we’ll extend product and go-to-market support to these early-stage initiatives, working closely to help their applications flourish on Arbitrum.”
The Arbitrum Foundation, a non-profit organization, oversees governance within the Arbitrum ecosystem. Offchain Labs, which established the blockchain in 2021, concentrates on developer tools and the core network infrastructure.
Offchain Labs is promoting this new program as a means to invigorate engagement and interest in the broader Arbitrum ecosystem. According to the blog, the first projects coming out of Onchain Labs will soon be revealed. The firm indicated that only those projects committing to fair and equitable launches would receive support from the initiative — suggesting a preference for those avoiding token launches and other practices that favor insiders.
In its blog, Offchain Labs explained that the selection criteria are aimed at preventing “extractive ecosystems” and “zero-sum games.” Additionally, Tandem, the venture capital arm of Offchain Labs, “may or may not acquire related tokens on public markets,” the company mentioned.
Arbitrum functions as a layer-2 optimistic rollup network on Ethereum. Like other rollups, it is designed to process transactions more swiftly and cost-effectively than the main Ethereum blockchain. A number of new blockchains have been built upon Arbitrum’s technical framework, creating a network of interconnected blockchains known as Arbitrum ‘Orbit.’
Currently, Arbitrum stands as the largest layer-2 network on Ethereum, with approximately $12.2 billion housed on its primary chain, ‘Arbitrum One,’ according to L2beat.
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