Arbitrum, a second layer expansion rollup for Ethereum, has breached the $1.5 billion of total value locked (TVL) in protocols using its services. The smart contract recorded an influx of more than 1 billion just today after a rumor started in social media that the protocol might be planning to issue its own token in the coming days. The second layer was launched on mainnet less than two weeks ago.

Arbitrum Blows Past $1.5 Billion TVL

Arbitrum, an L2 scaling solution for Ethereum, has reached a new milestone, breaking the $1.5 billion in TVL in less than two weeks since it launched in mainnet. It had a big influx of liquidity yesterday, with more than $1 billion entering the network according to info from L2Beat. Protocols in Ethereum are still adapting their structures to include Arbitrum services, but the layer has experienced sizable support, even when Ethereum heavy hitters like Compound and Aave still haven’t adopted it.

Most users are flocking to the first farming platform in Arbitrum, called Arbinyan (related to…

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Source: https://news.bitcoin.com/arbitrum-surpasses-1-5-billion-in-tvl-following-rumors-of-a-possible-token-airdrop/