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press release PRESS RELEASE. How to participate in the Arbitrum ecosystem as Layer 2 continues gaining traction? The Ethereum’s Layer 2 (L2) players have been performing exceptionally well to date, with impressive TVLs in the ecosystems of Arbitrum, Polygon, and Optimism as the market rebounds. Among these, Arbitrum has the largest
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Arbitrum’s dominance among the layer 2 landscape continues to grow in quarter one of 2023, as the number of unique addresses on Arbitrum reaches an all-time high. Source
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The surge in users and transaction volume in the past day corresponds with the launch of TROVE, the governance token for yield-bearing index protocol Arbitrove, which is also built on Arbitrum. The public sale of TROVE occurred on Camelot on Friday, Feb. 17, and will end on Monday, Feb. 20,
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Arbitrum does not have a token, meaning it relied on the organic growth of its decentralized finance ecosystem to attract users to its platform. It is possible, though, that Arbitrum’s usage numbers have been inflated somewhat by bots designed to farm the platform’s yet-to-be-announced token. (When crypto protocols announce tokens,
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Ethereum staking is a way for ether investors to earn a reward by locking up their coins following the Merge event last year. Ethereum’s next major upgrade, expected to occur in March, is the “Shanghai hard fork,” which will allow participants on the network to unlock ether they had staked
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Before the upgrade, Lyra’s market maker vaults (MMVs) paid swapping fees for every collateralization and hedging trade. For example, when a trader buys a call option contract on ether (ETH), Lyra’s MMVs would purchase ether from a spot exchange, incurring a fee; once the trader’s position has closed, Lyra’s MMVs
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Vela’s token also garnered attention for listing the rebranded, identical utility token VELA on Camelot, another DEX on Arbitrum, on Thursday, potentially contributing to the rally. DXP holders on Ethereum and Metis can exchange their tokens one-to-one to VELA on Arbitrum without any fees using a bridge. Source
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Over $220 million in trading volume was processed in the past 24 hours. Over $120 million of that came from crypto derivatives and $70 million from products tracking foreign currency (forex), with the remaining spread over US-listed stocks, such as Apple (APPL) and Amazon (AMZN), and indices. Source
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Arbitrum and Optimism raked millions in profit despite the extended bear market that hammered decentralized finance (DeFi) activities and Ethereum (ETH) valuation in 2022. Arbitrum And Optimism Win Big Per on-chain data shared on Twitter, Arbitrum, and Optimism, general-purpose Ethereum layer-2 platforms, made 2,906 ETH and 2,086ETH, respectively. In USD terms, it translates
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