Ithaca
Defunct1 known investors
Ithaca was a crypto infrastructure company focused on accelerating financial technology and user experience improvements in the crypto sector. The team has joined Tempo to continue upgrading financial infrastructure.
Also known as Ithaca (ithaca.xyz) · ithacaxyz
Investors · 1
Company profile
researched Aug 2026Ithaca (ithaca.xyz) was a crypto infrastructure company that described its mission as accelerating the crypto frontier by co-designing an open-source developer tools stack. Its output was primarily open-source software published under the ithacaxyz GitHub organization, spanning Rust, Solidity and TypeScript projects.
Its principal products were Porto, a developer-first TypeScript library providing authentication, crypto payments and account recovery for web applications without passwords or browser extensions; Odyssey, an open-source testnet Layer 2 built with Reth, the OP Stack and Conduit and used as a testbed for account-abstraction experiments; a relay for transparent cross-chain transaction routing for EIP-7702 accounts; and an "account" contract suite for web authentication and payments. Ithaca also published a numbered series of public experiments (EXP-0000 through EXP-0003) covering sequencer-sponsored transactions, EIP-7702 account delegation, app sessions, and application subscriptions.
In October 2025 Ithaca announced that its team was continuing at Tempo, to accelerate Tempo's mission of upgrading the world's financial infrastructure. Ithaca announced plans to sunset Porto in June 2026 and stopped maintaining it in August 2026, leaving the code open source and providing a recovery tool for users holding funds in Porto; the Porto and relay repositories are archived on GitHub.
Founding story
Ithaca announced its start on 2024-10-11 as a company designed to accelerate the crypto frontier, stating at the same time that it had raised $20 million from Paradigm. In November 2024 it announced that tmm and jxom, the authors of the Wagmi and Viem libraries, were joining the company to work on Ethereum user experience and next-generation developer tools.
Traction
Public traction indicators are limited to GitHub activity on the ithacaxyz organization, which lists 16 repositories including porto (614 stars, 152 forks), account (324 stars, 92 forks), odyssey (316 stars, 81 forks) and relay (113 stars, 35 forks). Porto was announced as production-ready in October 2025 before being sunset in 2026.
Latest developments
The Ithaca website now states only that the team joined Tempo and that Porto maintenance ceased in August 2026, directing users with funds in Porto to a recovery tool and pointing visitors to Tempo's X account.
▸Full profile — market position, technology, go-to-market, history, risks & controversies
Market position
The company positioned itself around co-designing protocol-level changes with the developer tooling stack, publishing testnet infrastructure and reference experiments in the open, and it brought in the authors of the widely used Wagmi and Viem Ethereum libraries.
Technology
Ithaca's stack combined Rust, Solidity and TypeScript components: the Odyssey testnet Layer 2 built with Reth, the OP Stack and Conduit; a Rust relay for cross-chain transaction routing for EIP-7702 accounts; Solidity account contracts; and the Porto TypeScript library. Its research targeted Ethereum standards including EIP-7702 (account delegation) and RIP-7212, plus features such as account-based app sessions, sequencer-sponsored transactions and on-chain application subscriptions.
Go-to-market
Ithaca distributed its work as open-source repositories on GitHub under permissive licences (Apache-2.0 and MIT), accompanied by a public updates feed of product releases and numbered technical experiments, and an email subscription list for product and experiment announcements.
Application developers and builders in the crypto ecosystem integrating authentication, payments and account features into web applications and existing toolkits.
History
Ithaca was introduced in October 2024 alongside a $20M raise from Paradigm, and launched the Odyssey testnet Layer 2 the following day. Through late 2024 and 2025 it published experiments on sequencer-sponsored transactions, EIP-7702 account delegation, app sessions and subscriptions, and introduced Porto in December 2024, followed by a developer preview in May 2025 and a production-ready, fully open-source release in October 2025. On 2025-10-17 the company announced that the team was continuing at Tempo. It announced the sunsetting of Porto on 2026-06-19 and ceased maintaining it in August 2026, publishing a recovery tool for users with funds in Porto.
Risks & controversies
Ithaca discontinued its flagship product Porto roughly eight months after declaring it production-ready, requiring users who held funds in Porto to use a recovery tool. The team's move to Tempo indicates the company is no longer operating independently.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 13
launches, deals, and filingsIthaca stopped maintaining Porto in August 2026; the code remains open source and a recovery tool was provided for users with funds in Porto. The Porto GitHub repository is archived.
Ithaca announced plans to sunset Porto in order to focus on other priorities.
Ithaca announced that the team is continuing at Tempo, to accelerate Tempo's mission of upgrading the world's financial infrastructure.
Porto was announced as production-ready and fully open source, aimed at secure and programmable web-native crypto payments and finance without passwords or browser extensions.
Developer preview release of Porto, positioned around passwordless accounts and web-native payments.
Experiment implementing application subscriptions using Porto.
Launch of Porto, a developer-first TypeScript library for authentication, crypto payments and account recovery integrated into apps or existing toolkits.
Experiment on building applications with account-based sessions on Odyssey.
Ithaca announced that tmm and jxom, authors of the Wagmi and Viem libraries, joined the company to work on Ethereum user experience and developer tools.
Experiment exploring EIP-7702, RIP-7212 and account delegation on Odyssey.
Experiment covering sequencer-sponsored transactions and the odyssey_sendTransaction method for Chapter 1 of Odyssey.
Ithaca launched Odyssey, an open-source testnet Layer 2 built with Reth, the OP Stack and Conduit.
Ithaca announced its founding as a company designed to accelerate the crypto frontier, having raised $20 million from Paradigm.
$20M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
YMCA of Ithaca and Tompkins County among grantees for childcare funding - 607 News Now607newsnow.com · Jul 2026▸Research sources · 8
primary sources listed
- Ithacaithaca.xyz · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Ithaca do?
- Crypto developer-tools company behind Porto and the Odyssey testnet; its team has since joined Tempo.
- Who are Ithaca's investors?
- Ithaca's investors include Paradigm.