The main organizations supporting the Arbitrum blockchain, Offchain Labs and the Arbitrum Foundation, have recently unveiled an exciting new program designed to kick-start early-stage projects within the ecosystem.
This program, named “Onchain Labs,” aims to provide essential go-to-market support for what the founders describe as “experimental and volatile” projects. According to a blog post from Offchain Labs, the primary developer behind Arbitrum, the initiative is a critical step towards boosting innovation and enriching the user experience on the platform.
“Through Onchain Labs, we’re dedicating resources to support developers looking to rapidly expand the application layer by ideating with them from the ground floor to bring the best user experiences to Arbitrum,” stated the blog. “As we do with many Arbitrum teams, we’ll provide product and go-to-market support to these early-stage projects, collaborating closely to help their applications thrive on Arbitrum.”
The Arbitrum Foundation serves as a non-profit entity that oversees governance within the Arbitrum ecosystem, while Offchain Labs, which developed the blockchain in 2021, focuses on creating robust developer tooling and refining core network infrastructure.
This innovative initiative is pitched as a way to generate heightened activity and interest throughout the Arbitrum ecosystem. According to Offchain Labs, the first projects under the Onchain Labs banner are expected to emerge from stealth very soon. Importantly, the program commits to supporting only those projects that adhere to principles of fair and equitable launches, steering clear of token launches and mechanisms that favor insiders.
Offchain Labs elaborates that the selection criteria are designed to prevent “extractive ecosystems” and promote non-zero-sum scenarios in which all participants can benefit. Additionally, Tandem, Offchain Labs’ venture capital arm, may or may not engage in purchasing associated tokens within public markets.
As a layer-2 optimistic rollup network on Ethereum, Arbitrum is tailored to efficiently process transactions at greater speed and lower costs compared to the main Ethereum blockchain. The platform also facilitates the development of new blockchains built on its technical framework, resulting in an interconnected network known as Arbitrum ‘Orbit.’
Currently, Arbitrum stands as the largest layer-2 network on Ethereum, with a remarkable $12.2 billion locked on its primary ‘Arbitrum One’ chain, as indicated by L2beat.
For further insights, read more about Arbitrum’s recent partnerships and initiatives, including its deepening ties with South Korea’s Lotte Group.
