Onchain Labs, a new program launched by the Arbitrum ecosystem, aims to support early-stage blockchain projects with go-to-market support and product development resources.
The co-founders of Offchain Labs, the firm behind Arbitrum. (Offchain Labs)
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In various contexts, the term refers to a pair of objects or components that are connected and synchronized to achieve a common goal.
For example, in aviation, a 'tandem rotor helicopter' has two rotors rotating in opposite directions for improved stability and control.
Similarly, in cycling, a tandem bicycle is designed for two riders, with one person pedaling while the other steers and brakes.
The main organizations supporting the Arbitrum blockchain, Offchain Labs and the Arbitrum Foundation, have unveiled a new program designed to kick-start early-stage projects in the ecosystem. The new program, ‘Onchain Labs,’ is designed to provide go-to-market support to ‘experimental and volatile’ projects.
Onchain Labs is a leading developer of scaling solutions for blockchain networks.
Founded in 2017, the company focuses on building scalable and secure infrastructure to support high-performance applications on public blockchains.
Their flagship product, Optimism, is an Ethereum layer 2 scaling solution that enables faster and cheaper transactions.
With a strong focus on research and development, Onchain Labs aims to improve the usability and accessibility of blockchain technology for mainstream adoption.
Key Objectives of Onchain Labs
Through ‘Onchain Labs’, we’re dedicating resources to support developers looking to rapidly expand the application layer by ideating with them from the ground floor to bring the best user experiences to Arbitrum. The program will provide product and go-to-market support to these early-stage projects, collaborating closely to help their applications thrive on Arbitrum.
Arbitrum is a layer 2 scaling solution for Ethereum, designed to increase transaction capacity and reduce gas fees.
It uses a technique called 'Optimistic Rollups' to process transactions off the main chain, then posts the final result on Ethereum.
This approach allows for faster and cheaper transactions, making it an attractive option for decentralized applications (dApps).
Arbitrum's technology has been adopted by several prominent projects, including dYdx and SushiSwap.
Criteria for Onchain Labs Projects
The selection criteria for ‘Onchain Labs’ projects are designed to avoid ‘extractive ecosystems‘ and ‘zero-sum games.’ Only projects that explicitly commit to fair and equitable launches will be supported. This means avoiding token launches and other mechanics that preference insiders. Tandem, Offchain Labs‘ venture capital arm, may or may not purchase associated tokens in public markets.
The Role of Arbitrum Foundation
The Arbitrum Foundation is a non-profit that stewards Arbitrum ecosystem governance. Offchain Labs focuses on developer tooling and core network infrastructure. By supporting early-stage projects through ‘Onchain Labs’, the main organizations aim to spur greater activity and interest in the wider Arbitrum ecosystem.
Background on Arbitrum
Arbitrum is a layer-2 optimistic rollup network on Ethereum. Like other rollups, it’s designed to process transactions faster and more cheaply than the main Ethereum blockchain. Several new blockchains are built on Arbitrum‘s technical framework, forming a network of interconnected blockchains called Arbitrum ‘Orbit.’ As the largest layer-2 network on Ethereum, with roughly $12.2 billion on its primary ‘Arbitrum One‘ chain, according to L2beat, Arbitrum continues to expand its reach and support innovative projects.
Next Steps
The first ‘Onchain Labs’ projects will soon emerge from stealth. The selection criteria for these projects are designed to prioritize fair and equitable launches, avoiding token launches and other mechanics that preference insiders. By supporting early-stage projects through ‘Onchain Labs’, the main organizations aim to drive growth and innovation in the Arbitrum ecosystem.
