Arbitrum Nova is the another chain build by Offchain Labs. Nova enables ultra-low transaction fees through a new security model that relies on a Data Availability Committee (DAC). the new chain built on AnyTrust technology.

Key Benefits of Nova:

• Ultra-low transaction costs;
• Fast transactions with rapid block times;
• Enabling new blockchain primitives;
• Security of Ethereum;
• EVM Compatibility.

Fundraising:

• The project has raised more than $120 million from Lightspeed Venture Partners, Ribbit Capital, Polychain Capital, Pantera Capital and others.

Thoughts:

As we all know, almost all Layer-2 have their own token, either for gas or DAO. Arbitrum doesn't have its own token yet, so there is great potential to get project tokens for using the network, as was the case with Optimism.