Arbitrum is a layer-2 solution for the Ethereum network that is designed to improve smart contracts' functioning. Using Arbitrum in smart contracts increases transaction speeds, introduces the ability to scale and decreases commissions inside the network.
The project's developer, New York-based Offchain Labs, was founded by Princeton University Professor Steven Goldfeder and two of his graduate students. Steven Goldfeder was Deputy Director for Technology at the White House during Barak Obama's presidency. The company was valued at $1.2 billion in 2021 when it managed to attract $120 million in investment from Lightspeed Ventures and several eminent cryptocurrency venture funds.
The Arbitrum ecosystem's token, ARB, was launched on 23 March 2023. There are 10 billion ARB. The Arbitrum community will control 56% of them, while 44% of the total ARB will go to investors and Offchain Labs employees. ARB token holders can vote on proposals from the decentralised autonomous organisation (DAO) that manages the project. Part of the tokens will be given away by developers to active users of the Arbitrum platform.
Opportunities for traders
Arbitrum started trading on 23 March 2023. On the first day of trading, the token's volatility was 11.2%.
How to buy and sell the Arbitrum CFD
You can trade CFDs on the Arbitrum token through trading platforms in a regulated broker, such as MetaTrader or Libertex, which allows you to trade on the price movements of underlying assets.