a16z leads the expansion plan for Optimism, with a valuation of $1.65 billion. Synthetix founder optimistic about token performance.

The second-layer scaling solution Optimism for Ethereum raised $150 million in a Series B funding round led by a prominent venture capital firm, valuing the company at $1.65 billion. The founder of Synthetix also expressed strong confidence in this development, revealing on Twitter that he will definitely hold the tokens of Optimism after their issuance.

The first report on the financing case was by TechCrunch, with a valuation of $1.65 billion in the prominent venture capital-led Series B financing round. Optimism CEO Jinglan Wang stated:

Optimism not only has achieved a profitable model, but will also use all profits to fund public goods on Ethereum. With the latest financing, we will soon reduce code complexity and promote compatibility.

Optimism announced in a release that the next version "Bedrock" will be released soon, further reducing transaction fees by over 100 times. Sustainability and transaction fees below $1 are no longer a matter of possibility but just a matter of time.

DeFi Llama data shows that Optimism currently has a TVL of about $340 million, while the second-layer solution is still led by Arbitrum with a TVL of $2.1 billion.

Synthetix founder Kain Warwick revealed that he also participated in the recent two rounds of financing for Optimism and is very optimistic about it, expecting the TVL to soon catch up with the scale of the Ethereum mainnet. He also disclosed his current holdings:

• BTC
• ETH
• Synthetix SNX
• Illuvium ILV
• The Graph GRT
• Optimism OP

Optimism has not yet issued coins, while Arbitrum raised $120 million in August last year. The Block's Head of Research Larry Cermak previously predicted that most L2 projects will issue coins in early 2022 to incentivize large-scale migration from L1 to L2 and replicate the performance of most public chains in 2021.