Arbitrum Has an Exceptional Month of July, Here Are The Facts

The Arbitrum chain has a fantastic month of July.
The protocol unveiled many major milestones.
Arbitrum will likely have an explosive second half of 2023.

A popular crypto and DeFi investor makes a special post to mark all of Arbitrum’s wins in the month of July. It looks like this chain is outperforming itself by setting many major milestones.

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To highlight, the Arbitrum chain seems to be dominating the industry with its latest wins. In particular, the ecosystem saw a series of developments poised to propel its growth and adoption.

Firstly, the network recently announced its Foundation Grants Program. This is in an effort to accelerate ecosystem expansion and incentivize the creation of innovative decentralized applications (dApps).

Secondly, Arbitrum made a proposal to add support for Account Abstraction. This is a crucial step towards mass blockchain adoption. This move enables various use cases, including social recovery for wallets, one-click batched transactions, and more.

Thirdly, SpartaDEX, the first gamified decentralized exchange (DEX) on Arbitrum, gains traction ahead of its launch. To specify, it attracted $10 million in total value locked (TVL).

In addition, the DEX aims to provide users with a fun and interactive experience, akin to the excitement experienced during the DeFi Kingdoms surge in 2021. SpartaDEX’s TVL compared with other major pairs reveals its competitive edge, even against DEXes that have been in the market for a longer time.

The strategy game is set in the realities of Ancient Greece. Its launchpad is called SpartaPAD. The platform’s ambition and early success hint at a promising journey ahead. The protocol will go live soon.

Next, Arbitrum revealed Vela Exchange’s roadmap. The perpetual DEX native to Arbitrum reveals exciting items such as VELA buybacks, trading bot integrations, trading leagues, token utility enhancements, and OTC onboarding.

Finally, ZTX announced its deployment on Arbitrum. This is huge news as ZTX is the largest avatar social network in Asia with over 400 million users. Besides that, GMX V2 launch schedule came out, GND Protocol released gETH, and Rubicon got launched on Arbitrum. Lastly, Lodestar V1 and Unidex’s PerpsV3 both went live on Arbitrum. No doubt about it, Arbitrum had a great month of July.

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Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.