Based on the OP Stack-based Layer2 network, Public Goods Network (PGN) announces the official launch of its mainnet. After six months of network operation, PGN will evaluate and allocate fees based on accumulated data.
It is reported that PGN is a highly composable EVM-compatible Rollup, with plans to allocate a significant portion of the sequencer's net income to support the Ethereum ecosystem and other public goods. Portions of Gitcoins next grants round, GG18, will also run on PGN through Gitcoin Grants Stack.
According to previous reports, on July 7th, Gitcoin published an article introducing the OP Stack-based Layer2 network, Public Goods Network (PGN).
After 6 months of mainnet launch, PGN will evaluate and allocate fees based on accumulated impact data. Participants can join the network alliance and collaborate to determine the distribution of sequencer fees. PGN commits to conducting at least a two-year experiment, allowing partners to run DApps on PGN to support public goods funding. PGN governance alliance members, including Protocol Guild, Public Nouns, Clr.fund, Giveth, Hypercerts, Protocol Labs, Octant, Eco, Hedgey, Gitcoin, will oversee the distribution of sequencer fees, ensuring the growth and sustainability of public goods funding.
OP Stack is a standardized set of open-source modules that can be assembled into a customized chain, known as the “OP chain” by Optimism, to serve any specific blockchain use case.
In addition to Coinbase, which launched its own L2 solution called Base based on OP Stack, an increasing number of projects are joining the ranks of the Optimism ecosystem and launching their own application chains using OP Stack. This includes top-tier venture capital firm a16z developing a Rollup client based on OP Stack components, Worldcoin founded by ChatGPT creator Sam Altman migrating from Polygon to Optimism, and Zora launching the Zora Network, a Layer 2 NFT minting platform catering to NFT creators, brands, and collectors, with 35 partners onboard. Even public chains like BNBCHAIN have adopted OP Stack to build their own application chain, opBNB.