Transactions on Arbitrum (ARB) are surging to record numbers as the layer-2 scaling solution airdrops 12.75% of its token supply.
The Arbitrum Foundation is distributing the tokens to eligible users as its aims to make the ecosystem more decentralized than other Ethereum (ETH) scaling chains.
[adinserter block="1"]“Only use the http://arbitrum.foundation website to claim your ARB. This is the safest way to claim, and you’ll be able to vote for your favorite ecosystem delegate!
The Arbitrum Foundation is excited to begin 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 23rd when the airdrop launched. The number of transactions was at just 1,218,525 on Wednesday.
Arbitrum transaction numbers are also higher than those of Ethereum during the same period. Data from the analytics platform Etherscan shows that the leading smart contract only hit 1,073,049 and 1,077,305 in daily transactions on March 22nd and March 23rd, respectively.
Earlier this week, crypto exchange Coinbase added ARB to its roadmap listing in anticipation of the airdrop. Leading crypto platform Binance says it is also listing the token but ARB is currently seeing significant losses. Arbitrum is now worth $1.34, down by 73.44% over the last 24 hours.
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