This event set a record day for Arbitrum rollups, totaling $3.43 million in revenue and $3.29 million in net profit.
The LayerZero airdrop caused a surge in transactions as users rushed to claim tokens.
Spike in Transactions Due to LayerZero Airdrop
Consequently, the median gas fee on Arbitrum skyrocketed to nearly 35 gwei during this period. This highlighted the strain on the network and the heightened demand for transaction processing. The mandatory donations associated with the LayerZero airdrop significantly impacted Arbitrum’s operations on June 20.
As users joined the airdrop, Arbitrum’s rollup surged in transaction volumes. This increased activity translated into substantial revenue generation for the network, reaching $3.43 million in a single day. Moreover, after accounting for operational costs, Arbitrum achieved a remarkable net profit of $3.29 million, setting a new benchmark for daily earnings within the rollup ecosystem.
Source: Dune
The LayerZero airdrop’s opening marked a pivotal moment for Arbitrum, as it underscored the platform’s scalability challenges and its capability to handle large-scale transaction volumes under pressure.
More About LayerZero’s Airdrop on Arbitrum
Despite the congestion and higher gas fees experienced during the airdrop period, Arbitrum demonstrated resilience in processing transactions efficiently within its rollup framework. The revenue surge reflects growing adoption and economic incentives in layer 2 dApps and token distributions.
Source: Dune
Looking ahead, the success of Arbitrum’s revenue and profit metrics on June 20 highlights the platform’s role in facilitating scalable and cost-effective transactions for Ethereum users. As layer 2 solutions continue to evolve and integrate with the Ethereum ecosystem, managing network congestion and optimizing transaction costs will remain critical challenges.
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