Optimism

Optimism is an Ethereum Layer 2 expansion solution utilizing Optimistic Rollup, set to unveil its mainnet in January 2021. The sequencer plays a crucial role in crafting L2 blocks and integrating transactions into Ethereum L1, garnering revenue through block space sales. The upcoming Bedrock from Optimism aims to transcend EVM equivalence, establishing Ethereum equivalence as the cornerstone for the next-gen failure-proof system, Cannon. Originally developed by George Hotz, Cannon stands out as the pioneering interactive public fault-proof, running the EVM equivalent of Layer 2.

Optimism’s financial journey includes a $3.5 million seed round in January 2020, a notable $25 million Series A round led by Andreessen Horowitz (A16z) in February 2021, and a substantial $150 million Series B round led by a16z and Paradigm in 2022. This financing spree has propelled Optimism’s valuation to an impressive $1.65 billion.

In early June 2022, Optimism introduced the governance token OP, which currently serves a role in Optimism’s bicameral governance system, where OP holders form the Token House. This house has the authority to cast votes on upgrades and allocate incentives across various projects within the Rollup ecosystem. The Optimism token, OP, thus becomes a key player in shaping the decentralized governance landscape of Optimism’s expanding ecosystem.