Arbitrum Registers Highest Profit Levels Since December After LayerZero\'s ZRO Token Launch

On June 20, the launch of LayerZero's ZRO token caused an unprecedented increase in Arbitrum's daily revenue, reaching a record $3.43 million

LayerZero's ZRO token launch led to a massive surge in Arbitrum's daily revenue, reaching a record $3.43 million. This is primarily driven by LayerZero's "donation" mechanism, which requires users to contribute 10 cents in USDC, USDT, or ETH per ZRO token they wish to claim. These "donations" are intended to support the Protocol Guild, an initiative that provides assistance to Ethereum developers. While LayerZero maintains that this approach differs from a traditional airdrop, which the company believes favors unfair distribution and short-term gains, the strategy has sparked mixed reactions in the community.

Due to the influx of transactions related to claiming ZRO tokens, gas fees on Arbitrum have surged to an average of 89 cents, a significant increase from the typical cost of less than a cent. This has resulted in a record daily profit of $3.29 million for the Arbitrum network, setting a new peak for ARB.

Analysis of the ZRO launch's financial impact on Arbitrum was made possible by data from Dune Analytics and DefiLlama. These have been the highest revenue days for ARB since December 14, when the network generated $2.13 million in revenue before going offline due to a surge in inscriptions. A type of data formatting, inscriptions can include large packages like images, which drove up the cost of fees due to their size.

However, the value of ZRO has declined by 14.3% in the last day, currently trading at $3.11 after reaching a peak of $4.79, according to CoinGecko. This follows a surge that saw the token rally by 225% in the last week. The volatility reflects the varying market reactions to LayerZero's novel distribution mechanism.

The substantial increase in Arbitrum's fees and revenues showcases the impact that new token distribution initiatives and strategies can have on the operational and financial aspects of blockchain networks.

News source：https://www.kdj.com/cryptocurrencies-news/articles/arbitrum-registers-profit-levels-december-layerzero-zro-token-launch.html

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