Vitalik Buterin Commends $100M Boost to Ethereum Ecosystem

Over $100 million has been distributed in the third round of Optimism’s Retroactive Public Goods Funding (RetroPGF). 

In a recent post on the X social media platform, Ethereum founder Vitalik Buterin expressed his admiration for Optimism’s ongoing dedication to funding public goods. 

This initiative is particularly significant as it supports developers and other contributors to the Ethereum ecosystem who may lack a traditional business model.

How it works 

Optimism’s RetroPGF has been described as an economic flywheel that propels the Optimism Collective forward. 

It functions by rewarding individuals and projects that build essential infrastructure, tooling, and content, thus enabling the ecosystem to flourish. 

This round of funding has acknowledged 501 projects and individuals for their positive impact on the Collective. 

The initiative shows the value of community-driven development in the cryptocurrency world, where projects are often collaboratively built and maintained.

A diverse range of projects 

The beneficiaries of this round of funding include both well-established names in the Optimism Collective and newcomers who are contributing to the future of the ecosystem. 

In total, 643 projects have received awards across the three rounds of RetroPGF. This demonstrates a commitment to building a self-sustaining economic system that consistently rewards contributors. 

The process involves significant community participation. This includes badgeholders who vote on the allocation of awards, and teams dedicated to building the public goods infrastructure. 

Optimism has also announced that more rounds are planned for 2024, signaling continued support for this experimental and iterative process.