The new division will target blockchain applications and infrastructure projects building on top of Arbitrum’s tech.
Offchain Labs, the team behind Arbitrum, the largest Ethereum Layer 2 network, has launched an incubator division to nurture projects launching in the Arbitrum ecosystem.
Announced on Aug. 14, Offchain Labs’ new Tandem division will provide resources to partner projects to accelerate innovation on Arbitrum.
Offchain Labs described Tandem as a “partner studio” focusing on teaming up with select projects building blockchain applications. It added that Tandem will target partnerships with teams leveraging Arbitrum’s Nitro tech stack to build blockchain infrastructure, including transaction sequencing, data availability, rollups-as-a-service, and other scalability protocols.
“By providing resources and mentorship, we aim to empower developers and entrepreneurs to bring their visionary ideas to life, driving the next wave of decentralized applications and transformative technologies,” said Steven Goldfeder, the CEO and co-founder of Offchain Labs. “We are excited to see the groundbreaking projects that will emerge from this initiative.”
Tandem will seek to provide projects with a launch strategy, technical support, and marketing services, in addition to facilitating introductions with other projects in related verticals.
Arbitrum is the largest Layer 2 network with a total value locked of $15.3 billion. The price ofArbitrum’s ARB token is up 1.4% over the past 24 hours, according to CoinGecko.
Offchain Labs expands project roster
The news comes as Offchain Labs is expanding its presence across web3.
In addition to Arbitrum, Offchain Labs acquired the Prysm Ethereum consensus client in October 2022. Offchain Labs is also a major partner supporting Espresso Systems, a project building interoperability infrastructure, and Xai, a gaming-focused Layer 3 network leveraging Aribtrum technology.
Xai adoption exploded in June following the launch of its Genesis: Vanguard campaign, which introduced a roster of on-chain games alongside incentives for users in the form of points distributions.
The network quickly emerged as the top-ranked Layer 3 network by activity, consistently hosting more than 100 transactions per second (TPS) since mid-June. Xai hosted more than 119 TPS over the past 24 hours.
Read More: Arbitrum Community is About to Implement ARB Staking
Source: https://thedefiant.io/news/defi/offchain-labs-launches-incubator-division-targeting-infrastructure-projects