Ethereum scaling solution, Arbitrum, will launch it's public mainnet on August 31, 2021!

Source

​

• Arbitrum is an Ethereum scaling solution based on the Optimistic rollup protocol.
  • It will facilitate low-cost smart contracts with high throughput while leveraging the security and decentralized features of Ethereum.
  • There is no Arbitrum token, the protocol is built on-top of the Ethereum blockchain.
  • Arbitrum users will essentially be opening 'bar tabs' on the Ethereum network, allowing users to make several transactions and 'roll the up' as one bulk transaction at a later time.

​

• Transaction fees on the Ethereum blockchain is too damn high for everyday users, especially during times of network congestion where fees can cost more than $20.
  • It claims to reduce Ethereum gas fees by more than 50x.
  • Average gas fees for the Ethereum network right now costs $5 - $7.

​

• Arbitrum is onboarding AAVE, Curve, MakerDAO, Sushiswap, Uniswap, and Cream Finance, among other dapps built on Ethereum.
  • The aforementioned dapps are 'blue-chips' with more than $1B in total-value-locked (TVL), in total they share $38B in TVL.
  • There's currently $110B in Ethereum's defi ecosystem or more than 70% of all of defi.

​

• Bonus: Cryptocurrency's MOON token is built on the Arbitrum network. With a public mainnet launch, we could possibly see easy to access liquidity pools for MOONs.
• Note: For the first few months, it will be semi-centralized to ensure the safety of the protocol and funds while users get familiarized with the protocol.