Ethereum scaling project Optimism raises $150 million at $1.65 billion valuation

Optimism, layer-2 solution for scaling Ethereum, raised $150 million following a Series B funding round. Investors valued the project at $1.65 billion.

After over a year on mainnet, our milestones keep adding up: $1B in gas fees saved for users, thousands of smart contracts deployed, three separate forks…

And now: funds raised to the tune of $150M, giving us runway to keep shipping rain or shine.https://t.co/pBC2jmXtnh

— Optimism 🔴✨ (@optimismPBC) March 17, 2022

According to TechCrunch, the round involved Andreessen Horowitz (a16z) and Paradigm.

According to developers, over the year since the mainnet launch, Optimism users saved $1 billion in transaction fees.

Optimism sits fourth in L2BEAT’s ranking with a TVL of TVL of $440 million.

Arbitrum leads the list, also using the Optimistic Rollups scaling technology. Metis Andromeda’s TVL is $717 million (3rd place in the ranking).

In February 2021, the Optimism raised $25 million in a Series A funding round led by Andreessen Horowitz.

In February, the Optimism paid out more than $2 million for a disclosed critical vulnerability.

Follow ForkLog News on Telegram: ForkLog Feed — the full news stream, ForkLog — the most important news, infographics and opinions.