Espresso is building a marketplace for shared sequencing, enhancing interoperability among Layer 2 rollups.
After raising $30 million during a Series A round in 2022 and $2 million in seed funding in 2020, the latest round brings Espresso’s total funds to over $60 million. The firm did not disclose its latest valuation.
Espresso is building a marketplace for shared sequencing, allowing rollups to auction the rights to build their blocks. According to Espresso, this setup facilitates interoperability among rollups and offers opportunities for various stakeholders, including Layer 1 block proposers , to participate. Espresso is creating a marketplace that enables rollups to designate a default sequencer and establish a minimum price for transferring sequencing rights from the default sequencer to an external entity. If rollups prefer not to manage sequencing, the marketplace can manage it on their behalf, Fisch explained.
In the end, Espresso aims to enable rollup users to gain the experience of being on one Ethereum chain with improved composability. All this while turning their project into a decentralized marketplace for shared sequencing that preserves the sovereignty and value capture of individual rollups, according to the project.
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