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Arbitrum One Becomes First TVL Over $20 billion Ethereum L2 Network

Arbitrum One Becomes First TVL Over $20 billion Ethereum L2 Network

远山洞见2024/12/06 07:19
ARB+1.38%
On December 3rd, Arbitrum One, an Ethereum Layer 2 solution developed based on Optimistic Rollup technology, announced that its total locked amount (TVL) has exceeded $20 billion, becoming the first L2 network to reach this milestone. The official stated that with the continuous growth of the ecosystem in vertical fields such as decentralized finance (DeFi) and non-fungible tokens (NFT), the second phase upgrade is coming, and Arbitrum's scalability will be further improved. On the same day, Uniswap Labs shared Dune data on X, stating that Arbitrum became the first L2 on the Uniswap protocol with a monthly trading volume exceeding $20 billion.
 
The core feature of Arbitrum is to use Optimistic Rollup technology to achieve efficient communication between the Ethereum mainnet (L1) and Arbitrum (L2), submit transaction data to Ethereum, and execute and store it off-chain. This model significantly reduces gas fees while maintaining full compatibility with Ethereum, and even achieves the feature of contract deployment without gas restrictions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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