Arbitrum Boost Interest In DeFi Sector
According to a new report from DappRadar, the total value locked in DeFi ended the first quarter with more than $83 billion, thanks in part to increased interest in scaling solutions such as Arbitrum, Fantom, and Optimism. This represents a nearly 38% increase over the previous quarter. Pedro Herrera, DappRadar’s Head of Research and Analytics, breaks down what happened in the first quarter as concerns about the US banking sector persist.
The first attempt at governance on the Arbitrum blockchain erupted on Saturday with a proposal to give the Arbitrum Foundation control of 750 million ARB tokens worth nearly $1 billion.
Those tokens would be used to fund a “special grants” program designed to foster growth on Arbitrum, the Ethereum layer 2 that recently airdropped its governance token ARB. However, according to the proposal, AIP-1, ARB holders would have no say in who or how Arbitrum Foundation allocates the nearly $1 billion sum.
Arbitrum, an Ethereum scaling solution, made airdrop history by distributing tokens to decentralized organization treasuries rather than individual wallets. 8.9% of the 1.3B tokens distributed were given to 137 DAOs. Arbitrum Airdrop is said to be assisting smaller DAOs in weathering the bear market.
(With inputs from Shikha Singh)
You need to login in order to Like
