The issuance of tokens is expected to increase, and the ecosystem on the chain continues to explode. Arbitrum is gradually becoming the leader of Layer 2. Huobi, a cryptocurrency trading platform, took the lead in deploying Arbitrum, grasping the dividends of the subsequent development of Layer 2.

According to Huobi’s official announcement, Huobi will launch the Arbitrum governance token ARB on March 23, fully supporting the Arbitrum ecological development.

The announcement shows that ARB recharge has been opened at 12:00 on March 17. ARB spot trading is open for ARB/USDT and ARB/USDD trading pairs, and will be opened when the recharge amount meets the market trading demand. In addition, Huobi has been officially launched at 19:00 on March 22ARB Top Up Contest(Announcement link: https://www.huobi.com/support/zh-cn/detail/74933793730715). The event lasts for 7 days and ends at 19:00 on the 29th. During the event, users who successfully deposit ARB from an external address to Huobi will share 20,000 USDT according to the net deposit amount, and can receive a maximum reward of 150 USDT.

Arbitrum is an Ethereum Layer 2 solution designed to solve Ethereum's scalability, speed, and privacy issues. It uses Optimistic Rollups to process transactions off-chain and then submit the data to the Ethereum mainnet. It not only reduces Gas fees, increases scalability, but also enhances privacy. The Arbitrum Foundation recently announced that it will airdrop ARB governance tokens to community members on March 23 and launch its layer 3 development tool, Arbitrum Orbit, which brings Arbitrum one step closer to complete decentralization.

Additionally, Arbitrum allows for the creation of smart contracts, enabling developers to build new projects on top of Layer 2 protocols. Since the launch of Arbitrum in August 2021, the ecosystem has grown exponentially, with many projects launching and migrating to the network.

DefiLlama data shows that the native ecological projects on Arbitrum have gained the attention of the entire encryption market in the past two months. At present, Arbitrum is the project with the largest TVL in the second-layer expansion plan of Ethereum, reaching USD 1.8 B, and has a TVL share of 63.55% in the Rollup series.

In order to respond to the needs of the community and provide resource support and traffic exposure for the Arbitrum ecology, the Huobi trading platform has previously added an Arbitrum section and launched some Arbitrum ecological tokens, including GMX, GRAIL, RDNT, MAGIC, etc. The market value of these projects still has a certain gap compared with similar projects of other public chains, and they are still undervalued. With the issuance and future development of Arbitrum, there may be a lot of room for improvement.

The relevant person in charge of Huobi said: "With a large number of ecological builders and innovations, Arbitrum will continue to grow rapidly in the Layer 2 competition for a period of time and maintain its leading edge. Huobi will continue to pay attention to Arbitrum and its The dynamics of the community fully support the ecological development of Arbitrum."