Transactions on Arbitrum (ARB) are rising to record numbers as the Layer 2 scaling solution airdrops 12.75% of its token supply.
The Arbitrum Foundation is distributed the tokens to eligible users as its goal to make the ecosystem more decentralized than other Ethereum (ETH) scaling chains.
“Just use the website http://arbitrum.foundation to claim your ARB. This is the safest way to claim and you will be able to vote for your favorite ecosystem delegate!
The Arbitrum Foundation is excited to start this new era of on-chain governance with the ecosystem.”
According to blockchain explorer Arbiscan, daily transactions on Arbitrum skyrocketed to 2,733,872 on Thursday, March 23 when the airdrop was launched. The number of transactions was just 1,218,525 on Wednesday.
Arbitrum’s transaction numbers are also higher than Ethereum’s during the same period. Data from analytics platform Etherscan shows that the leading smart contract only reached 1,073,049 and 1,077,305 in daily transactions on March 22 and 23, respectively.
Earlier this week, cryptocurrency exchange Coinbase added ARB to its list of roadmaps in anticipation of the airdrop. Binance, the leading crypto platform, says it is also listing the token, but ARB is currently experiencing significant losses. Arbitrum is now worth $1.34, down 73.44% in the last 24 hours.
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