Arbitrum One is absolutely crushing it in the Layer 2 game! With a jaw-dropping $14.3 billion in total value locked (TVL), this Ethereum Layer 2 optimistic rollup is leading the pack.
Hold onto your hat, because Arbitrum One just hit a major milestone: over 1 billion transactions! And it only took them three years since their mainnet launch in August 2021. As of October 1st, Arbiscan recorded a cool 1.003 billion transactions.
For a little context, Coinbase's Layer 2 network, Base, has 755 million transactions under its belt, while OP Mainnet is at 347 million.
Not only is Arbitrum One leading in TVL, but it's also far ahead of the competition. Base is at $7.32 billion, and OP Mainnet has $6.57 billion in TVL, according to L2Beat.
In a move that's sure to shake things up, stablecoin issuer Paxos recently announced plans to launch its products on Arbitrum One. This partnership aims to integrate more institutions into the Arbitrum network and bring real-world assets onto the blockchain.
By leveraging Arbitrum, Paxos plans to tap into Ethereum’s deep liquidity at lightning speeds and lower costs, while also engaging with Arbitrum’s vibrant DeFi ecosystem.
Walter Hessert, Paxos' Head of Strategy, couldn't contain his excitement about the collaboration. “We’re thrilled to partner with Arbitrum to bring more real-world assets on-chain. Arbitrum's speed, security, and scalability are key to driving long-term adoption of digital assets across industries. Over the next three years, we expect stablecoin adoption to skyrocket among both retail and institutional users, and Paxos will be at the forefront of this transformative shift.”
So, keep your eyes peeled, because Arbitrum One is just getting started!
