Demex Daily #136: Optimism Collective Announces $22M Grants for Superchain Builders

What’s Interesting Today:

The Optimism Collective has launched its fourth Retro Funding Round, offering $22 million worth of OP tokens to builders on the Superchain, an Optimism-based technology aiming for interoperable blockchain networks. The funding round begins on May 23 with applications open until June 6, followed by a review and voting period leading to grant disbursements on July 15. Coinbase’s Layer 2 Base is a key player in the Superchain ecosystem, second only to OP Mainnet in total value locked. Eligibility for the grants requires deploying contracts on OP chains, making contract code public on GitHub, and meeting KYC standards set by the OP Foundation. This initiative aims to stimulate development and interaction on the Optimism network amidst a backdrop of broader crypto market volatility.

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Layer N, a Peter Thiel-backed Ethereum layer-2 network, has launched a liquidity program aimed at boosting innovation in the DeFi sector. Introduced by CEO Dima Romanov, the program targets early-stage DeFi protocols to help them establish market presence. Amber Group is the first to join, contributing $20 million to support the ecosystem. This move aligns with Layer N's goal to provide robust liquidity and essential resources for developers, fostering growth and challenging traditional financial systems. This initiative comes after Layer N emerged from stealth in September 2023 with a $5 million backing from Founders Fund. Additionally, Founders Fund has continued its active investment streak, including a significant recent investment in Elon Musk's Neuralink.