Arbitrum aims to empower its community through governance token launch

cointelegraph.com:

It’s official — there’s a new Layer-2 token on the block.

Arbitrum, a leading contender in the field of Layer-2 scaling solutions for Ethereum (ETH) has recently unveiled the launch and airdrop of its native governance token, ARB.

Since its launch in 2021, the network has become one of the largest projects without a token, fueling excitement and anticipation for its impending launch.

Arbitrum is an Optimistic Rollup solution that shifts network operations away from the Ethereum mainnet while still maintaining Ethereum-level security. It runs on its own blockchain and allows developers to deploy smart contracts that can process a higher number of transactions per second, thus lowering overall fees.

According to the latest data from L2 Beat, Arbitrum currently dominates the L2 wars, holding 55% of the market share in terms of total value locked (TVL). Arbitrum’s total value of assets locked has risen by more than 20% in the last seven days to $3.85 billion, coinciding with high-network activity on the network as well potential upside of the scheduled airdrop.

The growth of Arbitrum’s TVL and its dominance is a good indicator of its thriving ecosystem, with leading protocols such as GMX, Uniswap, Grail and many other DEXs operating on the network. In contrast, alternative Layer-2 competitors such as Optimism’s and Polygon’s TVLs are comparatively lower. This broad adoption and trust from projects as well as the wider community have been a positive sign for the growth and success of the Arbitrum ecosystem.

Joining other L2 projects such as Optimism, the launch of ARB will be a pivotal milestone in the network’s journey toward a decentralized autonomous organization (DAO). Unlike other tokens such as Ether — Ethereum’s native token