Arbitrum is a layer 2 solution designed to enhance the capabilities of Ethereum smart contracts.
What is Arbitrum (ARB)?
The ARB token will be used for governance within the Arbitrum DAO. Token holders will be able to participate in decentralized governance decisions that will be automatically executed on-chain once passed. The voting process will take between 21-37 days (depending on the nature of the proposal) for the decision to pass and be implemented.
The Arbitrum DAO will also vote to elect the Arbitrum Security Council, consisting of a 12-member multisig of respected community members.
As a layer 2 built on Ethereum, Arbitrum is immediately accessible to those familiar with trading on Ethereum and familiar with popular decentralized applications such as Uniswap, Sushi and Aave.
Developing applications on Arbitrum is just as simple as on Ethereum, as developers can use all standard developer tools such as Truffle, Hardhat, Remix, etc. to develop and deploy applications on the platform.
This has led to what can be described as the meteoric growth of its user base and the rapid expansion of its ecosystem. Indeed, there are close to 4 million unique Arbitrum addresses – a number that has been increasing parabolically since launch. Meanwhile, there are now more than 400 Arbitrum DApps, most of which fall under the DeFi umbrella.
Some of the platform’s most popular DApps currently have a TVL of over $100 million, including GMX, Uniswap, Treasure and Camelot.
Despite being the fourth most popular blockchain by TVL, Arbitrum is the 18th blockchain by 30-day fee revenue, with only $3.8 million compared to Ethereum’s $178.4 million, according to data from the token terminal.
Where to Buy ARB Coin?
ARB Coin can be safely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. ARB Coin is traded on the Binance platform in the ARB/BTC and ARB/USDT pairs. ARB Coin was trading at $6 at the time of writing.
To buy ARB, you must first become a member of the Binance exchange. Upon completion of the membership, cryptocurrency or fiat currency must be transferred to the Binance account wallet. After the transfer is complete, you can buy ARB Coin in all three of the above-mentioned pairs. To buy from the ARB/USDT trading pair, you must first go to the interface of this pair. In the ARB/USDT interface, enter the amount to be purchased in the field indicated in the limit tab. After specifying the amount, the purchase is executed with the ARB Buy order.
