In a recent development, Ethereum co-founder Vitalik Buterin openly praised Optimism (OP), the layer-2 scaling solution for Ethereum, along with its Retroactive Public Goods Funding (RetroPGF) program.
Impressive Rewards for Positive Contributions
RetroPGF, the initiative designed to incentivize activities that bolster the growth and acceptance of Optimism, such as developing decentralized applications, offering grants, creating educational content, and actively engaging with the community, caught Buterin’s attention. He shared his enthusiasm in a statement, revealing that the third round of the program distributed over $100 million to various projects. Buterin commended Optimism for its substantial support to developers and contributors to Ethereum.
OP Price Spikes After Buterin’s Endorsement
Following Buterin’s commendation, there was a noticeable surge in the price of OP. Buterin, in his own words, expressed, “Optimism (OP) RetroPGF 3rd round distributed over $100 million. I’m really impressed to see their continued commitment to funding public products, helping developers and others contribute to Ethereum even if it doesn’t have a business model. We hope to see more projects doing QF and RPGF tours in the future!”
Optimism distinguishes itself by promising swift and cost-effective transactions on the Ethereum network through optimistic rollups, a technique that consolidates multiple transactions into a single proof verified by the main chain.