An address transferred 1,462,305 ARB to Binance in the past 2 hours
Blockchain analyst Yu Jin reported that in the past two hours, an address has transferred 1,462,305 ARB tokens (worth $1.66 million) to Binance. These ARB tokens were withdrawn from Binance 21 days ago (on October 22) when the price was $0.835. If sold now, the seller would realize a profit of $440,000 (+37%). The same investor had previously invested in ARB in July and August, but suffered a loss of $120,000 at that time.
Arbitrum Nova’s total locked-up volume exceeded $25 million, hitting a record high
According to data from L2beat, the total value locked (TVL) in Arbitrum Nova has surpassed $25 million, reaching a historical high with a 7-day increase of 11.15%. According to the latest data from Dune Analytics, the current total amount of ETH bridged to Arbitrum Nova is close to 20,000, with a total on-chain transaction volume of approximately 190,000 transactions and over 150,000 unique user addresses bridged.
Aave community launches ARFC proposal voting for "Arbitrum USDC Migration"
On November 10th, Snapshot page shows that the Aave community has initiated a vote for the ARFC proposal "Arbitrum USDC Migration". The vote will end on November 12th, and the current support rate is 35.96%. The proposal was put forward by Gauntlet, suggesting adjustments to the parameters of Aave-related pools on Arbitrum to facilitate the community's migration from bridged USDC.e to native USDC. Gauntlet proposes the following adjustments: "freeze" the USDC.e pool, increase the USDC supply limit to 50 million coins, and increase the USDC borrowing limit to 45 million coins.
A giant whale bought $2.6 million in ARB and $1.9 million in PEPE, making a current profit of over $330,000.
According to Lookonchain monitoring, a whale holding 10,080 ETH ($19.4 million) spent 1,433 ETH ($2.6 million) at an average price of 1.045 to purchase 2.51 million ARB; and spent 1,038 ETH ($1.9 million) at an average price of 0.000001154 USD to purchase 1.65 trillion PEPE.
The whale currently has a profit of $177,000 (+7%) on ARB and a profit of $159,000 (+8%) on PEPE.
Uniswap-Arbitrum funding program will reward developers with up to $250,000 in ARB tokens
The Uniswap-Arbitrum Grants Program (UAGP) will run from November 8, 2023 to May 9, 2024, with support provided by Direct Grants newly launched on Grants Stack. This 6-month program will provide ARB token grants ranging from $50,000 to $250,000 to developers building in the Uniswap-Arbitrum ecosystem. With 1.1 million available ARB tokens, the goal is to accelerate adoption and highlight the broad opportunities Uniswap brings to Arbitrum.
The Arbitrum community is voting on whether to invest 21.4 million ARB to support 26 projects
On November 8th, according to the Snapshot page, the Arbitrum community is currently voting on whether to increase the funding for 26 projects that did not receive enough funding in the first round of funding by 21.4 million ARB (approximately $24 million) all at once. These projects were not supported in the first round of the Short-Term Incentive Program funding last month due to a total funding cap of 50 million ARB.
If the proposal is ultimately passed, the funding plan is expected to approve an additional 21.4 million ARB for these 26 projects by January 31, 2024. The proposal will end on November 14th and currently has a support rate of over 90%.
Arbitrum DAO launches a draft vote to "provide financial support for STIP proposals" and plans to increase the budget to 71.4 million ARBs
Snapshot page shows that Arbitrum DAO is voting on a draft proposal to "provide funding support for successful STIP proposals", with a current approval rate of 94.71% (but with fewer voters). The voting will end on November 14th.
The proposal aims to increase the total budget allocation (50 million ARB) of the original STIP proposal to 71.4 million ARB, and increase the number of participating protocols by 26, totaling 56 sponsored projects.
The proposal plans to distribute the ARB held by the DAO to incentive mechanisms, while utilizing the allocation system and consensus already created in STIP 1.
GMX will launch a short-term incentive plan of 12 million ARB tomorrow, which will be allocated to liquidity and trading incentives within 12 weeks.
BOn November 7th, decentralized derivative protocol GMX announced that the 12 million ARB short-term incentive plan allocated by Arbitrum will be launched soon, which will be distributed to liquidity and trading incentives within 12 weeks. Among them, up to 2 million ARB can be used as gift incentives for other developers and protocols, based on GMX V2, to promote the development of Arbitrum. Incentive measures will be distributed once a week, and users can receive ARB airdrop rewards after each cycle ends.
Liquidity incentives include rewards for GM liquidity providers and incentives for migrating GLP liquidity to the GM fund pool; trading on GMX can also receive ARB transaction fee rebates. Gift incentives are divided into three categories: small gift budgets not exceeding 10,000 US dollars; public gift budgets can be as high as 100,000 US dollars.
Decentralized GPU infrastructure Aethir announces launch of testnet
On November 7th, Aethir, a decentralized GPU infrastructure, announced that it has launched its testnet. The Aethir testnet is based on the Arbitrum network, and through this testnet, game developers can immediately create cloud ports, and artificial intelligence companies can promote interaction between humans and artificial intelligence through localized computing capabilities.
Multi-chain lending protocol Radiant Capital will airdrop 2 million ARB
Multi-chain lending protocol Radiant Capital announced on X platform that it will airdrop 2 million ARB tokens. Radiant's STIP incentive proposal has been approved by Arbitrum DAO and is now live. dLPs that meet the airdrop requirements must lock up on Arbitrum and BNB Chain for 6-12 months between the first snapshot (block 147753665) and the second snapshot (within the next 30-90 days) to be eligible to receive a share of the 2 million ARB tokens. The application period will end on January 31, 2024, and new dLPs such as Magpie and PlutusDAO will be allocated at their discretion.
The whale address starting with 0x6950 withdrew 1.7 million ARB from Binance 1 hour ago
Scopescan monitoring display, a whale address starting with 0x6950 withdrew 1.7 million ARB (approximately 1.89 million US dollars) from Binance. Currently, the address holds a total of 10.1 million ARB (approximately 11.21 million US dollars).
The Arbitrum community passed the "Activate ARB Staking" proposal, and 100 million ARB will be used to fund the staking mechanism
On November 6th, according to the Snapshot governance page, the Arbitrum community has passed the "Activate ARB Staking" proposal, with the result showing that the community supports funding the staking mechanism with 100 million ARB tokens (1% of the total ARB supply). This is aimed at providing incentives for long-term holders and further stimulating and consolidating the community's long-term development. In the next 12 months, this new mechanism will be monitored by the "Arbitrum Alliance" to collect data and assess its impact on the ecosystem.
An hour ago a whale address withdrew 1.7 million ARB from Binance
According to Scopescan monitoring, an address starting with 0x6950 withdrew 1.7 million ARB (worth $1.89 million) from Binance an hour ago. Prior to this, 0x6950 used its ARB as collateral on Aave to borrow stablecoins and purchase more ARB. Currently, the address holds a total of 10.1 million ARB (approximately $11.21 million).
The total number of transactions on the Arbitrum chain exceeded 400 million, an increase of more than 100% in the past six months.
On November 4th, Dune data shows that the total number of transactions on the Arbitrum chain has exceeded 400 million, with over 11 million created accounts and approximately 3.75 million contracts on the chain.
Previously, the total number of transactions on the Arbitrum chain exceeded 200 million in mid-April of this year, and has doubled in the past six months.
The whale, which previously lost $1.3 million on ARB, bought 2.51 million ARB
According to Lookonchain monitoring, the whale who previously lost 456 ETH ($1.3 million) on ARB, bought 2.51 million ARB 7 hours ago for 1.433 ETH ($2.62 million) at a price of $1.04.
Arbitrum community launches "Activate ARB Staking" proposal
According to Snapshot governance page on November 3, the Arbitrum community initiated a proposal to "activate ARB staking."
The proposal suggests that since ARB has no native utility or earnings, it is recommended to approve the creation of the aforementioned staking contract and allocate 1.75%, 1.5%, 1.25%, or 1% of the total supply of ARB in the DAO treasury to the staking contract, and distribute it through the proposed locking mechanism during a 12-month experimental period.
Radiant Capital launches on Ethereum and will airdrop 500,000 ARB tokens to 6-12 month dLP lock holders
Multi-chain lending protocol Radiant Capital has been launched on Ethereum with support from LayerZero Labs, Stargate, and Balancer. They will airdrop 500,000 ARB tokens to dLP lockers on the mainnet for 6-12 months.
Polyhedra Network announces building zkBridge on Arbitrum to bring secure and efficient interoperability
According to an official announcement, Polyhedra Network is building zkBridge on Arbitrum to bring secure and efficient interoperability. zkBridge enables fast settlement of cross-chain transactions from Arbitrum One and Nova to other networks, supported by a decentralized auxiliary verification network. The integration of zkBridge and Arbitrum Stylus simplifies smart contract creation and improves efficiency. Arbitrum Stylus promotes user-friendly zk proof usage, enhances security with private contracts, and enhances zk oracle, thus changing the interaction of smart contracts.
Data: A certain whale spent 843 ETH to purchase 1.61 million ARB
According to Lookonchain monitoring, 11 hours ago, a whale spent 843 ETH ($1.5 million) at an average price of $0.95 to buy 1.61 million ARB. The whale has been providing liquidity on ARB since October 23 to earn transaction fees.
PlutusDAO has begun voting on the proposal to launch ARB token staking, and Arbitrum’s proposal to provide 175 million ARBs is temporarily ahead.
On October 30th, PlutusDAO began voting on the proposal to launch ARB token staking. The proposal from Arbitrum DAO, which offers 175 million ARB tokens, is currently leading with a 99.8% share.
