beincrypto.com
The airdrop season seems to have got traction once again. Is layer-2 blockchain, Arbitrum, the next major airdrop upon us?
Arbitrum is a suite of fast, low-cost, and secure Ethereum scaling solutions, according to the official Twitter handle. Basically, it is a layer-2 solution for Ethereum, which means it is built on top of Ethereum to process most of the transactions and submit the final result to the main Ethereum chain. This way, the layer-2 networks reduce the load on Ethereum to enable it to scale.
Arbitrum hosts 62% of weekly transactions on Ethereum
The Nitro upgrade that was live on Aug. 31 boosted the network activity in the Arbitrum. It made the transactions on Arbitrum cheaper and faster. The chart below shows that cumulative new smart contracts have rapidly risen since the upgrade. The average deployment of new smart contracts on Arbitrum increased from 1,800 per week to 6,000 per week.
After the upgrade, the weekly transactions on Arbitrum are up by over 550%. According to the latest data, Arbitrum now hosts 62% of the weekly transactions on Ethereum. Arbitrum has a Total Value Lock of $2.61B, the highest amongst all the layer-2 solutions.
The Arbitrum airdrop
Along with the TVL and active user statistics, the speculation for Arbitrum token airdrop is at all-time highs. It started with this tweet by the co-founder of OffchainLabs, the firm behind Arbitrum.
The increased usage of Arbitrum has also set the community to speculate about a token launch. And eventually, the speculations about a potential airdrop increased the use of Arbitrum. Because the community wants the best possible chance to get the airdrop. Earlier, Optimism, the competitor of Arbitrum, had a token airdrop through which some community members made over $10,000. This adds to the excitement for a potential Arbitrum airdrop.
Airdrop hunter, Miles Deutscher, has shared steps on how a user can potentially get the Arbitrum airdrop in a Twitter thread. It includes the usage of the Arbitrum bridge and interaction with dApps that are exclusively listed on Arbitrum as well as other bridged blockchain networks. Deutscher also recently shared his thoughts on the potential of getting the airdrop despite being late to the party.
According to Deutscher, the most significant step is to participate in the Arbitrum Odyssey, but since the challenge is paused, the alternative is to purchase the Arbitrum Odyssey NFTs. The NFTs cost roughly $15.
Beware of Scams
Since the speculations that the airdrop may get live anytime are high, there are various fake ids on Twitter. Please ensure not to click on the links posted on fake social ids. They may be phishing links. As of writing, there is no announcement by the Arbitrum team for the airdrop.
Got something to say about this ETH price prediction or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here