{"id":11629,"date":"2021-09-02T06:54:09","date_gmt":"2021-09-02T06:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/offchain-labs-launches-arbitrum-one-mainnet-startup-raises-120-million\/"},"modified":"2021-09-02T06:54:09","modified_gmt":"2021-09-02T06:54:09","slug":"offchain-labs-launches-arbitrum-one-mainnet-startup-raises-120-million","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/offchain-labs-launches-arbitrum-one-mainnet-startup-raises-120-million\/","title":{"rendered":"Offchain Labs Launches Arbitrum One Mainnet \u2014 Startup Raises $120 Million"},"content":{"rendered":"<p><strong>On August 31, 2021, Offchain Labs announced the official launch of Arbitrum One mainnet and further detailed that the company has raised $120 million in funding. The Series B financing led by Lightspeed Venture Partners gives the firm a $1.2 billion valuation.<\/strong><\/p>\n<h2>Arbitrum One Mainnet Is Now Live, Offchain Labs Raises $120 Million in Funding<\/h2>\n<p>The highly anticipated <a href=\"https:\/\/portal.arbitrum.one\/\">Arbitrum One mainnet launch<\/a> has been revealed by the firm <a href=\"https:\/\/offchainlabs.com\/\">Offchain Labs<\/a> and the startup also detailed the company has raised $120 million in financing. Bitcoin.com News has <a href=\"https:\/\/news.bitcoin.com\/ethereum-layer-2-scaling-solution-arbitrum-to-launch-this-month\/\">written<\/a> about the Arbitrum One Layer-2 scaling solution on a few occasions as the protocol leverages <a href=\"https:\/\/ethereum.org\/en\/developers\/docs\/scaling\/layer-2-rollups\/\">Optimistic rollups<\/a> to help Ethereum scale. A number of popular decentralized finance (defi) projects are leveraging Arbitrum\u2019s gateway in order to give users better fee rates and faster actions.<\/p>\n<p>Arbitrum\u2019s technology is leveraged by defi projects like Aave, Balancer, Band Protocol, Coinbase Wallet, Chainlink, Curve, DAI stablecoins, Etherscan, Dodo, Metamask, Shapeshift, Sushiswap, Uniswap, and many more. In addition to the launch, Offchain Labs revealed the startup raised $120 million in funding led by Lightspeed Venture Partners. Other Offchain Labs investors included the Shark Tank television host and billionaire Mark Cuban, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, and Alameda Research.<\/p>\n<p><!-- growjs zone placement 31 -->    <!-- end of growjs zone placement --> <\/p>\n<h2>Over 400 Projects Leverage Arbitrum\u2019s Technology, Synfutures Implements Arbitrum<\/h2>\n<p>Bitcoin.com News also <a href=\"https:\/\/news.bitcoin.com\/reddit-chooses-to-leverage-arbitrums-layer-2-tech-with-community-point-eth-based-tokens\/\">reported<\/a> on how the popular online forum website Reddit is using Arbitrum\u2019s technology with its Ethereum-based community points system. \u201c[Offchain Labs\u2019] dedication to the Ethereum developer community is second to none and they have the best, easiest-to-use scalability product. That\u2019s why over 400 projects have chosen to launch with Arbitrum, including Reddit,\u201d Amy Wu, a partner at Lightspeed said in a statement.<\/p>\n<p>Moreover, a few other projects added Arbitrum One support to line up with the mainnet launch. \u200b\u200bDecentralized derivatives exchange Synfutures revealed on Wednesday that the project was \u201cnow deployed on Arbitrum One.\u201d \u201cAs we support the variety of investors entering the decentralized derivatives space, we want to be where they are. In a short time, Arbitrum has established itself as one of the most promising chains in the space, so the integration was a natural fit for us,\u201d Rachel Lin, the founder and CEO at Synfutures detailed.<\/p>\n<p><em><strong>What do you think about the Arbitrum One mainnet launch and Offchain Labs raising $120 million? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nNews, $120 Million, Amy Wu, Arbitrum, Arbitrum One, DAI stablecoins, Dodo, Ethereum Scaling, etherscan, L2 Solution, layer 2, Lightspeed Venture Partners, mainnet launch, metamask, Offchain Labs, optimistic rollups, Rachel Lin, Scaling, Series B, Shapeshift, Sushiswap, Synfutures, uniswap<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 31, 2021, Offchain Labs announced the official launch of Arbitrum One mainnet and further detailed that the company has raised $120 million in funding. The Series B financing led by Lightspeed Venture Partners gives the firm a $1.2 billion valuation. Arbitrum One Mainnet Is Now Live, Offchain Labs Raises $120 Million in Funding&hellip;<\/p>\n","protected":false},"author":0,"featured_media":11630,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-11629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11629"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=11629"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/11630"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=11629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=11629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=11629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}