Arbitrium One, the first true layer-two with EVM (Ethereum Virtual Machine) compatibility, has reportedly had a very profitable week as its total value locked (TVL) has surged by about 2,300 percent.
Arbitrium logged their all-time-high TVL of 1.5 billion USD on 11th September, reported the layer-2-protocol-analyzing platform L2beat. Meanwhile, DeFi (decentralized finance) degenerates have rushed to invest in the early-farming DApps that are being launched on Arbitrium.
Arbitrium was launched on 31st August with giant funding of 120 million dollars, by Off-chain Labs. It currently holds over 65% of the entire capital that is locked on the layer-two net. It is followed by another 2nd layer DeFi platform dYdX, which has a 14.6% hold over the capital.
Arbitrium owes ArbiNYAN (the name comes from the Nyan cat meme) farm for its exponential growth. ArbiNYAN is a farming platform found in Arbitrium. The yield farm attracted investors with several thousand-percentage of returns for staking tokens.
Another major portion of Arbitrium’s share of capital seems to have flown in from the colloquially-termed ‘Ethereum killers’.
A possible reason for all this capital being moved to Arbitrium might be that there have been rumors that a native token is going to be issued as an airdrop sometime soon. The rumors started on social media platforms like Twitter and have garnered attention from Cobie and other crypto influencers.
Recently, Dune Analytics shared some data showing that, while Arbitrium’s TVL has grown by a hefty percentage, the bridges to Solana, Fantom, and Harmony have suffered a decrement in their TVL by 58%, 36%, and 62% respectively. The statistics have been recorded over the same week.
