Ape Into Arbitrum: $ARB Claim and Delegation

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3 weeks ago

The legend says that a professor observed scalability issues in the blockchain technology that predated Ethereum's launch! This issue was solved through "Arbitration".

Arbitrum is an Ethereum Layer-2 scaling solution that supports smart contracts without the limitations of scalability and privacy. The chain become popular due to low transaction fees and less congestion than mainnet, and FOMO and hype were added in the mix when the token airdrop rumors started.

Both crypto savvy people and degens turned their eyes to Arbitrum, joining the early developers that created Arbitrum that implements the contract’s functionality. It was just the start of the great Arbitrum migration, as the crypto community found fertile grounds on layer-2

The airdrop hunters were kept in stand-by for months, with no clear criteria... until one sunny day! BOOM! ... the airdrop was confirmed and the eligibility page was live!  Went to check, not hoping for much, and I was blown away by the eligibility! 

I was eligible for 2250 $ARB tokens, due to my activity on Arbitrum. The claim date was announced and those eligible for the airdrop could check which boxes they ticked to qualify. 

I ticked the bridging criteria, thanks to Across Protocol, and done several transactions over time. Most of them were on Harvest Finance (Dolomite) and claiming NFTs on Galxe. 

More points were given for transaction frequency and interaction, and I've conducted more than 25 transactions or interacted with more than 25 smart contracts. I always said that consistency is the key to success!

Claim date came... and it was a failure! The page was down for hours, even if some were able to claim their $ARB tokens. The server couldn't handle the flood of claims and the plethora of requests. I tried and tried for hours but the internet gods didn't aid me!

Meanwhile, some sold their tokens at $8.67, and got bags of money! Let me do the math and tell you that I could have sold my $ARB for $19,507 at All-Time High! I know that was nearly impossible to catch that price, but I was pleased to get even a token value close to 5 USD! 

However, the price started to drop hard every minute... and I still couldn't claim. It went under 2 USD in less than an hour and stabilized close to 1.50 USD. I enjoyed watching the dump and decided to HODL (if I would ever be able to claim my $ARB aidrop)

Welcome to Arbitrum, voyager! The future of Ethereum is in your hands!

Half day later, close to midnight, everything worked fine. I was able to sign, claim and delegate my tokens. Was a stressful experience and I was still fuming for how bad the claiming process went. I would definitely sold at a high price and bought more at discounted price. 

Same as on Optimism, the holders could delegate their voting rights or vote by themselves. I am a lazy voter and decided to delegate my voting power to TreasureDAO, as I had some $MAGIC in my bag. I changed my mind the next day and delegated my slice to one of the best individuals in the cryptospace. The future of Ethereum is now in his hands!

I spent some time exploring the Arbitrum website and was amazed how well set it was. Everything is one click away, from proposal and ecosystem ... to vision and governance. Check the top protocols and ape into Arbitrum by using the Across bridge!

This are some of the protocol I discovered through Across Twitter spaces, and some top crypto opportunities:

  • The Lost Donkeys is an exciting PFP and GameFi project that features multiplayer and community decision-making elements. In the game, called ‘The Lost Land,’ players must harvest resources to grow carrots and craft customizable features for their barns. Players can earn $CARROT by optimizing their crop yield and upgrading their barn. 

  • City Clash is a unique NFT win-to-earn game that features a collection of 3,000 NFTs that represent real-world cities. In the game, players contribute to their faction by holding City Clash NFTs and competing to capture countries and earn rewards. F

  • Sentiment Finance provides a primitive-based solution to enable permissionless undercollateralized on-chain credit. The protocol offers capital efficiency for borrowers and creates unique ways for other DeFi products to access leverage by integrating with Sentiment.

  • Poison Finance is a synthetic assets protocol that allows you to trade stocks, commodities, and more from the comfort of your crypto wallet. Users are able to stake the Poison Finance governance token, $POI$ON, for even more rewards and a say in the project’s future.

  • Vertex is an Arbitrum-based DEX that combines the orderbook model of CEXes with the “lazy capital” model of DEXs. This unique, hybrid AMM-orderbook design offers traders faster order execution, deep liquidity, tighter spreads, lower slippage, and a broad set of token pairs.

  • GammaSwap is a DEX that allows users to short liquidity inside any AMM and any LP pool, enabling the trading of volatility through perpetual derivative instruments. These derivatives resemble straddles, calls, and puts in traditional finance and are netted through a floating swap rate determined by market forces.

  • Factor provides on-chain asset management by aggregating core DeFi products and liquidity. Factor’s no-code platform allows asset managers to create innovative products, strategies and vaults, acquire TVL, and earn fees. It enables investors or “Factorians” to take advantage of the best DeFi has to offer in one place, instead of searching for them individually.

  • Vesta is a “Layer 2-FIRST” stablecoin protocol allowing maximum liquidity against collateral. Users lock up collateral and issue VST stablecoins. The individual collateralized debt positions are called vaults.

  • The Beacon is a free-to-play fantasy action roguelite RPG, featuring dynamic dungeons, real-time combat, and a blend of single-player, co-op, and MMO-like social experiences. With each playthrough, players will encounter unique dungeons, battle monsters, and enhance their skills and fighting styles.

  • Rocket Monsters is an innovative Play and Own Web3 game, developed using the cutting-edge Unreal Engine 5. Set in a diverse universe filled with unique characters, weapons, and vehicles, all represented as playable NFTs, the game offers endless opportunities for player engagement. Players can participate in both PVP and PVE battles across numerous environments, immersing themselves in a rich and meaningful gameplay experience.

  • Decent is the premier all-in-one Web3 portal for creators and developers to build on mainnet and L2s. We have a multi-chain protocol, SDK, APIs, and beautifully simple no-code creation and management application complete with unique NFT contracts and mechanisms.

  • Granary Finance is a decentralized, user-centric liquidity market inspired by Aave, by founded by the Byte Masons, offering a straightforward and enjoyable way to engage in fully decentralized lending and borrowing. Prioritizing risk management and community focus, the platform returns most benefits and profits to users.

  • nftperp is a perpetual futures exchange for NFTs that tracks the floor prices of NFT collections. So for the first time ever degens, like yourself, can speculate and take long or short trades on these NFT collections.

  • JustBet, created by WINR Labs, is a decentralized casino offering a fast, tamper-proof gaming experience. It features a multi-asset pool enabling liquidity providers to earn yield from bets and platform fees, while players are incentivized through vWINR tokens that can be staked or vested for additional yield.

  • Y2K Finance offers structured products for exotic peg derivatives, enabling market participants to hedge or speculate on pegged assets deviating from their ‘fair implied market value.’ The suite includes Earthquake and Wildfire products, with high-quality vault strikes based on research and probability models.

  • Dolomite enhances DEX margin trading by supporting DeFi blue-chip assets against stablecoins or other blue chips. Its capital-efficient architecture enables users to earn interest through margin lending, liquidity pool fees, and yield farming simultaneously.

  • DopeX is a decentralized options protocol on Arbitrum (Ethereum L2) that aims to satisfy both option writers and options buyers. Through Single Staking Options Vaults (SSOV), option writers minimize losses while buyers access deep liquidity and fair prices.

  • Buffer Finance is a gamified options trading protocol that enables buying options directly from a liquidity pool. As a non-custodial on-chain solution, it operates like an Automated Market Maker, allowing creation and settlement of options without a counterparty, making options trading more accessible.

  • Contango is a decentralized expirables market that enables users to buy or sell assets at a set future price and date without order books or liquidity pools. The protocol borrows, swaps, and lends on fixed-rate and spot markets, offering minimal price impact for large trades.

  • Matcha is a crypto trading platform powered by 0x Labs. They are a DEX that also aggregates the best prices across a growing number of liquidity sources to maximize the value you receive on every trade.

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