With a new layer 2 token in town, the Arbitrum fever is on.
The much-anticipated Arbitrum ARB governance token airdrop marks the beginning of its transition into a self-executing DAO governance, and the activity on the network has soared to levels never seen before.
The Ethereum-layer 2 scaling system that uses Optimistic rollups technology to facilitate faster and cheaper transactions has already been on a roll lately. The daily transaction on Arbitrum has now hit an all-time high of 1,312,052.
- The last peak was registered a month back when the figures climbed 1,103,398, which was followed by a sharp reversal amidst an industry-wide drawdown, according to the data compiled by Arbiscan. But the airdrop news gave the figures the necessary boost.
- DeFiLlama data further suggested that there’s nearly $2 billion locked inside Arbitrum-powered protocols. On top is the decentralized derivatives platform GMX and DEX Uniswap, which are leading with the most value.
- The total unique addresses also continued its steady upward trajectory hitting a new record of 3,871,204.
- Meanwhile, the developer team behind Arbitrum has previously hinted that ARB will hit eligible wallets on March 23.
- Once the token is deployed, eligible users and developers will receive 12.75% of the token’s total supply of 10 billion. ARB’s total supply, on the other hand, will be fixed at 10 billion.
- Following the announcement last week, several top crypto exchanges, including Binance, Huobi, Bitfinex, and Bybit, announced that ARB will be listed on its launch day.
- The significant hype and the immediate listings have worked as a marketing tactic. However, this has also attracted scammers that have been creating fake Arbitrum airdrops and phishing websites.
- Earlier this week, the project’s community and some blockchain security companies cautioned users to stay vigilant and revealed identifying more than 273 phishing sites related to Arbitrum.