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 These ARB tokens were withdrawn from Binance 21 days ago (on October 22) when the price was $0.835.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.
