Arbitrum On-Chain Activity
Arbitrum has had a lot of activity in the past few months, largely due to the Arbitrum Odyssey event. The number of daily transactions have been steadily increasing, up by over 3x on average since August. This could signify the success of the Odyssey event as well as the ability to retain users even after that. The event brought the spotlight to its ecosystem with more arbitrum airdrop rumors around a significant number of token less protocols.
Looking at the chart below, there are some transactions that have been the biggest on the arbitrum chain over the past few months.
Airdrop Pro wallets are curated based on their past performance from airdrops – whereby the wallets have garnered over $100k in airdrop profits which were made over 3 or more unique airdrops.
Following Optimism’s airdrop in the last few months, there has been strong speculation that Arbitrum will be next in line. The Arbitrum Odyssey event was assumed to be the criteria for getting the airdrop given that it involves a series of tasks interacting with various Arbitrum dApps. The list of protocols involved in Odyssey can be found here. However, the event was paused indefinitely after gas fees on the network shot up significantly to exceed mainnet fees during the 2nd week, probably attributed to the large inflows of new users. While it seems like Odyssey will not be resuming anytime soon, it is probably still worth exploring the chain nevertheless.
Besides Arbitrum One, a new chain built on Arbitrum’s AnyTrust technology launched back in August – Arbitrum Nova. The key difference between Nova and One is that transaction data is not posted on-chain and it does not inherit the security of the L1. This is because Nova has its own Data Availability Committee (DAC) which allows the chain to have its own security assumptions. This allows for lower fees and greater security. Many speculate that activities on Nova will be counted towards the future airdrop as well, hence, it would be beneficial to simply bridge some funds over to interact with Nova dApps. Bridges that support Nova include the Arbitrum Bridge, Connext, Multichain and Orbiter. Connext and Orbiter currently do not have a token, hence, using them to bridge over could be ‘killing two birds with one stone’. A list of dApps available on Nova can be found here.