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
The highly anticipated Arbitrum One mainnet launch has been revealed by the firm Offchain Labs and the startup also detailed the company has raised $120 million in financing. Bitcoin.com News has written about the Arbitrum One Layer-2 scaling solution on a few occasions as the protocol leverages Optimistic rollups to help Ethereum scale. A number of popular decentralized finance (defi) projects are leveraging Arbitrum’s gateway in order to give users better fee rates and faster actions.
Arbitrum’s 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