- On 9th April 2023, HashDAO decided to provide access to liquidity pools via Arbitrum.
- HasHDAO is a large decentralized exchange (DEX) based on Arbitrum.
HashDAO Finance has recently launched on Arbitrum, offering access to liquidity pools with minimal impact on spot markets. The platform uses self-executing smart contracts to offer continuous access to programming tools for liquidity, which can be used for efficient hedging and bearing lathes profits for crypto investors. The available trade pairs include BTC/USD, ETH/USD and ARB/USD with up to 50 times leverage.
How Will Arbitrum Provide Us With Faster Transactions at Low Fees?
To further incentivize users, HashDAO will issue two types of tokens, namely the utility token HASH and veHASH, which serves as a yield booster. By staking HASH, users can obtain veHASH. The team’s allocated tokens will be locked for a period of three years and cannot be unstaked until the period ends. HashDAO is additionally exploring the possibility of selling HASH to high-profile strategic partners. The proceeds from the sale go to the HashDAO treasury.
Recently, on March 23rd, Arbitrum launched its token ARB, via an airdrop to its loyal community members. Arbitrum is an Ethereum Layer-2 network that offers developers an efficient and cost-effective solution for building and deploying high scalability smart contracts. With this, developers can run Ethereum Virtual Machine (EVM) contracts and transactions on a second layer while still benefiting from the security provided by Layer-1.
The Impact of The ARB Token
Regarding the ARB token airdrop, users can check for eligibility of acquiring these tokens, if they satisfy at least three of six criterias provided by them. The platform leverages a flagship product called Arbitrum Rollup, a protocol which guarantees Ethereum-level security for processing transactions at faster speeds and lower costs. Transaction Rollups record batches of transactions on the Ethereum main-chain, executing them in Layer-2.
By offloading the computational and storage burden, Arbitrum enables the creation of powerful Layer-2 based dApps. Arbitrum offers a rollup that validates the correct execution of code. It introduces a challenge for rollup blocks, in which validators check the correctness of a block and issue a challenge if they think it to be wrong. If the block is proven incorrect, the lying validator’s stakes are confiscated to ensure fair play and avoid commotion.
The ARB token was airdropped to eligible community members of Arbitrum, which marked the official transition of Arbitrum into a Decentralized Autonomous Organization (DAO). The total circulation of ARB tokens will be 10 billion, with 56% of the tokens being owned and controlled by the Arbitrum community. The airdrop grants 11.5% of the supply to eligible users and 1.1% to DAOs that operate in the Arbitrum ecosystem.
The Arbitrum ecosystem comprises four key roles; a virtual machine, a key, a manager and a verifier. dApps running on the Arbitrum chain can select their group of validators to perform the consensus process, meaning that unlike Ethereum, one validator working on one app cannot interact with any other Arbitrum app. This technique reduces traffic at nodes, resulting in speedy processing of transactions.