Arbiturm airdrop in numbersIt is a big week for Arbitrum, with the launch of $ARB airdrop, as liquidity providers earned over $500,000 in profits within a few hours of providing liquidity. Yesterday saw the launch of Arbitrum’s governance tokens, ARB, which can be used to vote on decisions related to Ethereum scaling protocol updates.
According to Uniswap data, the ARB/ETH liquidity pool experienced $180 million in trading volume and rewarded LPs with $542,000 in fees. It is essential to know that Liquidity providers are entities that supply two different tokens to decentralized exchange smart contracts and receive a portion of fees charged for each trade.
Over 400,000 addresses have claimed their ARB governance tokens. Data shows that on Friday, 9,900 Ether (ETH) and 9.34 million ARB were locked in the Uniswap liquidity pool. Additionally, a smaller liquidity pool on Trader Joe held over $3 million. According to Nansen data, over 75% of all tokens had been claimed by users, with over 800 million ARB now held by them.
At the time of writing, Uniswap’s annualized yield rate was between 90%-100%—significantly lower than the 800% yield rate observed on the Trader Joe pool. With a circulation supply of 1.2 billion and trading at $1.30, ARB now has a market capitalization of $1.7 billion.
Arbitrum Orbit: What makes it unique?
While ARB airdrop took center stage, Arbitrum also announced the launch of Arbitrum Orbit, a framework to help create L3s that settle to Arbitrum-based rollups.
Faster and cheaper
L3s are the next evolution of Layer 2 (L2) protocols, offering a higher level of scalability while still providing the security guarantees associated with L2. This makes them particularly suitable for use cases such as order-book exchanges, games, or other applications that require high throughput. As an “L2 for L2s”, L3s provide an additional layer of scalability and security in the Arbitrum network.
More flexibility
Orbit is permissionless, allowing developers to create a Layer 3 protocol for settling transactions on an Arbitrum Chain without requiring the permission of the DAO. Additionally, Orbit will be compatible with Arbitrum Stylus, which enables developers to build Dapps in popular programming languages such as C, C++, and Rust. Also, Orbit broadens the scope of Dapp development and enhances the overall user experience.
DAO-like possibilities
The fully decentralized “Arbitrum” protocol, $ARB, enables users to take part in the governance of the project and make it self-executing. ARB holders can cast their votes when a majority is attained, thereby enabling changes to be implemented on the blockchain automatically. This DAO-like system ensures that all stakeholders have a say in the project’s future direction.
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