What is Espresso Systems (ESP) crypto project?

Espresso Systems is an Ethereum infrastructure project focused on coordination, not execution. Its job is to help rollups get fast confirmations and, over time, talk to each other without relying on one centralized sequencer. Think of it less as “another L2” and more as shared plumbing. The ESP token exists to govern that plumbing and secure it, not to compete with the rollups sitting on top.

Why does Espresso keep emphasizing HotShot and data availability?

Because sequencing is the hard part. HotShot is a purpose-built consensus system for ordering transactions quickly, while Tiramisu handles data availability without forcing validators to store everything. Together, they aim for speed when the network is healthy and safe fallbacks when it’s not. It’s not flashy, but it’s practical—and that’s sort of the point.

How much ESP exists, and is the supply capped?

ESP has a fixed total supply of 1 billion tokens. There’s no ongoing inflation beyond that cap. Detailed allocation splits are still being finalized publicly, which can feel vague, but the structure follows a familiar infrastructure pattern: long vesting for early stakeholders and a sizable ecosystem and community component. The team has clearly prioritized shipping mainnet before locking in every economic lever.

What does the ESP token actually get used for?

ESP isn’t just a checkbox governance token. It’s used for governance decisions, staking to secure the network, and—eventually—sequencing fees once a shared marketplace goes live. There’s also a fair-ordering angle aimed at limiting toxic MEV. Demand is supposed to come from multiple directions over time, not all at once, which makes the token’s role feel slower but more durable.

How does the public sale vesting work?

The public sale followed a clean 50% cliff, 50% linear structure. Half unlocks after a one-year cliff, and the rest vests linearly over the next year. It’s a two-year release window, which is longer than many launches. That pacing matters: it reduces early supply shocks and nudges participants toward actually sticking around instead of racing for the exit.

Who backed Espresso, and how much capital did it raise?

Espresso raised $60 million across two priced rounds. The Seed round (March 2022) raised $32M, led by Electric Capital and Sequoia Capital, with several well-known crypto funds participating. The Series B (March 2024) raised $28M, led by Andreessen Horowitz (a16z). The investor mix leans heavily toward long-term infrastructure, not quick token flips.

Is there an ESP airdrop happening now?

Yes. The airdrop is active from December 22, 2025 through early 2026, with 30+ eligibility paths. It covers things like onchain activity on Espresso-integrated rollups, partner protocol usage, and creator programs. Registration involves connecting an EVM wallet, linking an X account, and completing a Proof of Humanity flow. More criteria may unlock later, so eligibility isn’t always final on day one.

Where does ESP trade today, and what should you be careful about?

ESP is still effectively pre-market. Liquidity exists, but it’s limited, and major centralized exchange listings haven’t landed yet. That means slippage matters more than charts right now. For most people, the bigger variable isn’t short-term price—it’s when deeper liquidity arrives and how much supply is actually free-floating when that happens.