Ethereum’s co-founder, Vitalik Buterin, recently expressed his admiration for Optimism’s unique funding model. This comes in the wake of Optimism’s RetroPGF Round 3, which successfully distributed over $100 million.
Over $100m distributed in @Optimism RetroPGF round 3.
Really impressed to see their ongoing commitment to funding public goods, helping devs and others contribute to Ethereum even if they lack a business model.
Hope to see more projects doing QF and RPGF rounds in the future! https://t.co/igZCTsnNLt pic.twitter.com/JFGB1MNDDS
— vitalik.eth (@VitalikButerin) January 11, 2024
Buterin highlighted the distribution of this substantial sum, emphasizing the support given to developers and contributors within the Ethereum ecosystem. The rewarded contributors spanned various roles, including builders, writers, creators, educators, and contributors. This broad-based support is particularly noteworthy as it has been achieved without a traditional business model.
Optimism’s dedication to funding public goods has been a key factor in this success. The company’s commitment to this cause is evident in its allocation of 30 million OP to 501 contributors during the third round of Optimism RetroPGF.
Buterin’s commendation of Optimism’s $100 million support for Ethereum in the latest RetroPGF round underscores the significant impact of this funding on the growth of the ecosystem. This innovative funding model has not only garnered the praise of industry leaders like Buterin but also promises to fuel further growth in the ecosystem.
How Optimism Distributed $100 Million to Ethereum Contributors
Optimism’s unique funding model, which has been lauded by Ethereum’s Vitalik Buterin, represents a significant milestone in the cryptocurrency industry. By successfully distributing over $100 million to various contributors within the Ethereum ecosystem, Optimism has demonstrated the potential of non-traditional funding models.
This achievement is likely to inspire other players in the industry to explore similar funding strategies, potentially leading to a more inclusive and robust ecosystem. This development also underscores the growing recognition of the role of cryptocurrencies and blockchain technology in fostering innovation and supporting public goods.
Despite the encouraging remarks from Ethereum’s co-founder, Vitalik Buterin, the market reaction to Optimism’s native token, OP, has been less than enthusiastic. The token experienced a minor decline of 0.7% in the past day. Nevertheless, it has shown tenacity, with a week-over-week growth of 7.2% and a significant 30-day increase of 69.7%, according to data from CoinGecko.
In contrast, Ethereum has been experiencing a bullish trend. The value of ETH has risen by more than 15.6% in the previous week, a surge propelled by the recent approval of Bitcoin ETF applications in the U.S.
