CryptoIntelligence 2024-06-23 09:28:29

LayerZero’s ZRO Token Launch Spurs 16,680% Surge in Arbitrum Fees, Sets Revenue Record at $3.43M

LayerZero’s ZRO Token Launch Spurs 16,680% Surge in Arbitrum Fees, Sets Revenue Record at $3.43M

LayerZero‘s token launch on June 20 caused a significant increase in fees on Arbitrum, resulting in a record daily revenue of $3.43 million for the blockchain, an astonishing 16,680% jump from the previous day. The ZRO token launch on Thursday faced criticism due to its mandatory “donation” mechanism, requiring claimants to spend a small amount of money per token to secure their allocation. This mechanism led to a spike in average gas fees on the blockchain, rising to 89 cents from its usual less-than-1-cent fee. Consequently, Arbitrum’s profits soared to $3.29 million on the day, setting a new record high

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