Layer 2 Project Tour: How to Prepare for Arbitrum Airdrop

1. As one of the four existing Rollup projects with the largest market value, Arbitrum has a high possibility of airdrop and is worth investigating in advance.

2. Arbitrum is the absolute king of the whole Layer 2 field, ranking first with $2.064 billion of lock-up volume, and the TVL accounts for 55.6% of the whole Layer 2 sector.

3. Due to the design of the airdrop distribution mechanism of the project, in future airdrops, there may be fewer and fewer opportunities to obtain high revenue by using a large number of addresses. Seriously operating a small number of addresses and actively participating in the whole Ethereum ecosystem may bring higher income from airdrop.

4. On May 19, Arbitrum announced on social media that its ecosystem experience reward program, Arbitrum Odyssey, will be launched in mid June. Users can then interact with specific ecosystem protocols, complete specific tasks and win NFTs. Please keep an eye on participating in this activity when researching the Arbitrum airdrop.

On April 19, Optimism, the Ethereum Layer 2 project, released an article to recall the course of the project, suggesting that it may launch governance tokens. A week later, Optimism officially released the governance tokens OP and announced that 19% of the initial supply of the OP tokens would be used for airdrop. It is estimated that the application for OP airdrop may begin as early as the end of May.

In fact, a few months ago, there was a rumor in the crypto community that one or more of the four Layer 2 Rollup scalable projects - Arbitrum, Optimism, zkSync and Starknet - would be dropped soon. After Optimism announced the airdrop, zkSync also announced on May 8th that it would release tokens, but the specific time has not been announced. It is believed that the remaining two Rollup scalable projects will also start their own airdrop plans in the near future. Today, we will introduce you to Arbitrum, which has the largest market value among the four Rollup projects, and how to interact with Arbitrum network and participate in airdrop.


What is Arbitrum?

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Arbitrum's founding team Of Chain Labs has a deep academic background. Its co-founder Ed Felten is a professor of computer science at Princeton University. On September 1, 2021, the main network of Arbitrum was officially launched, which quickly attracted a large number of users with its extremely high transaction speed and low handling fee, and became the largest Layer 2 project on Ethereum. In August 2021, Ed Felten said in an interview that the DAO of Arbitrum may be tokenized in the future, which also makes people look forward to the possible airdrop of Arbitrum.


We know that the goal of many Layer 2 projects, including Arbitrum and Optimism, is to solve the scalability problem of Ethereum, and Rollup is the most popular Layer 2 scalable technical solution at present. In principle, Rollup technology means that the transaction processing task of Ethereum is assigned to the Layer 2 chain, while the Ethereum main chain is mainly responsible for security issues. After each chain completes the calculation, the transaction information is summarized into a call data, and then periodically packaged into blocks and submitted to each major sharding chain (Layer 1) to complete the recording.

For the scalability issues of Ethereum, please refer to our previous blog post: Will Layer 2 and the Future Sharding Update to be Activated in 2022 be Ethereum’s Ultimate Solution to Boost Scalability?

Rollup technology can generally be divided into Op-Rollup and zk-rollup. Among them, zk-rollup technology is more complex, but has a broad prospect, and its development is also relatively slow; The development of Op-Rollup is relatively rapid and has a significant leading advantage. The Arbitrum and Optimism we mentioned belong to Op-Rollup. From the perspective of TVL alone, Arbitrum is the absolute king of the whole Layer 2 field, ranking first with $2.064 billion of lock-up volume, and the TVL accounts for 55.6% of the whole Layer 2 sector.


As an Op-Rollup project, the Arbitrum network has good compatibility with EVM. Projects based on Ethereum smart contracts can be migrated to the Arbitrum network smoothly. Presently, well-known DeFi protocols including Uniswap, Sushi, 1inch and Curve have been deployed to the Arbitrum network. SushiSwap is the largest DeFi project of TVL on the network. GMX is a decentralized perpetual contract trading platform, which allows users to trade a variety of digital assets with up to 30 times leverage. In terms of cross-link bridges, in addition to the official cross-link bridges, Multichain, Hop and other cross-link bridges have also added support for Arbitrum networks. Finally, in terms of the NFT market, TreasureDAO is the main NFT market on Arbitrum.



How to interact with the Arbitrium network

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In order to prepare for the possible Arbitrium airdrop, it is necessary to interact with the Arbitrium network in advance. According to the analysis of the allocation rules for multiple airdrop projects, it can be seen that the project team is paying more and more attention to airdrop tokens to the early supporters and real users of the project, so as to avoid large-scale "airdrop hunting" as far as possible. We refer to the allocation rules of Optimism airdrop, in which six types of users are qualified to receive the first round of OP airdrop: 1) Users who complete the on-chain transfer on Optimism before June 23, 2021; 2) Users who have used the Optimism protocol for four weeks in the past year; 3) Users who actively participate in DAO governance in Ethereum ecosystem; 4) Users who participate in multi-signing of some projects and complete at least 10 transferring transactions; 5) Users who have used Gitcoin to complete online donation; 6) Certain Ethereum active users who have used Polygon, Gnosis Chain, Arbitrum or Solana cross-chain bridge.

Category 1 corresponds to the early users of the project, category 2 corresponds to the active users of the project, and categories 3, 4, 5 and 6 correspond to the active users in the whole Ethereum ecosystem. In the future airdrop, there may be fewer and fewer opportunities to obtain high revenue by using a large number of addresses. Seriously operating a small number of addresses and actively participating in the whole Ethereum ecosystem may bring more airdrop income.

Similar to interacting with the Optimism network, to interact with the Arbitrium network, first use the cross-chain bridge to migrate assets to the Arbitrum network. You can add Arbitrum to its wallet application by visiting chainlist.org, and then transfer it to the Arbitrum network using the official bridge or other cross-chain bridge. Finally, you can visit ARBITRUM ONE PORTAL to browse the entire Arbitrum ecosystem, find the Dapp you are interested in and interact with it.


Finally, on May 19, Arbitrum announced on social media that its ecosystem experience reward program, Arbitrum Odyssey, will be launched in mid June. Users can then interact with specific ecosystem protocols, complete specific tasks and win NFTs. Please keep on eye on participating in this activity when considering the arbitrum airdrop.



Author: Gate.io Researcher: Edward H. Translator: Joy Z.
* This article represents only the views of the researcher and does not constitute any investment advice.
*Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.



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