Vitalik Buterin Praises Optimism for Funding Public Goods
Ethereum co-founder, Vitalik Buterin, commended Optimism, a Layer-2 blockchain network built on Ethereum, for its continuous support in funding public goods. Buterin expressed his admiration for Optimism’s dedication to assisting developers and contributors, even without a traditional business model.
Optimism Rewards Developers with $100 Million
Optimism’s Retroactive Public Goods Funding (RetroPGF) initiative distributed 30 million OP tokens, worth over $100 million, to developers and contributors. This initiative recognizes their contributions to building public goods within the Optimism Collective. A total of 501 individuals from the Optimism ecosystem received rewards based on various parameters.
RetroPGF: An Alternative Funding Source for Public Goods Creators
RetroPGF is becoming an alternative funding option for creators of public goods who struggle to raise capital through traditional channels. This initiative ensures the availability of essential tools and infrastructure to facilitate smooth blockchain operations. In previous rounds, RetroPGF distributed over $10 million to developers and contributors.
Market Reaction to Vitalik Buterin’s Comments
Vitalik Buterin’s praise for Optimism did not have a significant impact on the price of the Optimism token (OP). The token experienced a slight decrease of 0.7% in the past seven hours, with trading volumes falling by over 36% in the last 24 hours. However, OP has seen a substantial increase of 12% in the past week and 67% in the last month.
In contrast, Ethereum has witnessed a surge in prices following the US SEC’s approval of spot exchange-traded funds tracking Bitcoin. ETH prices have risen by over 17% in the past seven days.
Hot Take: Optimism’s Commitment to Funding Public Goods Receives Recognition
Vitalik Buterin’s acknowledgment of Optimism’s efforts to fund public goods demonstrates the importance of supporting developers and contributors within the crypto ecosystem. Optimism’s RetroPGF initiative provides an alternative funding source for creators who may struggle to secure traditional financing. While the Optimism token may not have immediately benefited from Buterin’s comments, its long-term potential remains promising, especially as Ethereum continues to experience price surges. Overall, this recognition highlights the significance of investing in public goods to ensure the growth and innovation of the blockchain industry.
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