Since the launch of LayerZero ZRO, Arbitrum’s daily earnings have increased by 16,500%.
The launch of the LayerZero token on June 20 led to a significant increase in Arbitrum, which recorded a daily income of $3.43 million for the blockchain, which was about 16,680% compared to the previous day.
LayerZero launched the ZRO token on Thursday, but has drawn criticism for its mandatory “donation” method — which requires claimants to spend a small amount of money per token to claim their allocation.
These mechanics have increased the average gas fee on the blockchain, hitting 89 cents, less than the usual fee of 1 cent.
That boosted its gross for the day to $3.29 million, another record high for the network, according to Dune Analytics and Defilama data.
LayerZero has made it so ZRO token requesters have to pay a small amount per token.
“To claim ZRO, users must donate $0.10 in USDC, USDT or native ETH to ZRO,” wrote LayerZero in a June 20 X post. He added that the donation will go to the Protocol Guild, which funds Ethereum developers.
LayerZero argued that the token launch is “not an airdrop” because many recipients have “little to no interest” in the project long-term, as airdrops are inconsistent with the “goals of fair distribution, community building, and protocol health.” .
This is Arbitrum's biggest grossing day since it earned $2.13 million on December 14th, due to recordings on the network the day before it went offline.
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Text is a type of data format that can carry larger packages than simple transaction data, such as images, which makes them expensive due to their size.
That cost is also passed on to Arbitrum, which only made $414,000 on December 14th, as it was hit with high fees for posting and verifying its expensive write data on Ethereum.
ZRO, on the other hand, entered the tank. It fell 23% to $3.42 in the last day, hitting a high of $4.79, according to CoinGecko.
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