It’s been merely a week since Arbitrum declared the initiation of its grant program. Significantly, there are already positive shifts suggesting the strategy’s effectiveness. The Arbitrum Foundation’s recent introduction of its pioneering grant program highlights a pivotal move in its quest to boost ecosystem evolution. According to the Foundation’s Bylaws, the grant initiative aims to align with online and offline partner ventures and educational campaigns.
Moreover, these Foundation Grants are managed by the Arbitrum Foundation to bolster the Arbitrum DAO. Hence, it’s essential to understand that this initiative supplements any DAO-centric grant schemes. Instead, it aligns perfectly with the Foundation’s vision, emphasizing goals and opportunities pinpointed by the Foundation itself.
Grants rank high among tactics employed by networks to lure developers and liquidity. Consequently, this same method is bearing fruit for Arbitrum. Just a week after its grant announcement, it’s reported a whopping $70 million in liquidity migrating from other platforms.
Over $70M in assets were bridged into @arbitrum just a week after announcing the launch of their grants program. 📊
— Emperor Osmo🧪 (@Flowslikeosmo) September 29, 2023
As a result, Arbitrum tokens have experienced significant growth:
– $SILO: +79%
– $GRAIL: +41%
– $PLS: +33%
– $MAGIC: +11%
Is this the beginning of a new trend? pic.twitter.com/2M3YwNOjqf
Market dynamics post the grant unveil hint at Arbitrum potentially embarking on a rapid expansion spree. Therefore, monitoring specific indicators that shed light on its path is crucial. Transactions and revenue figures emerge as frontrunners in this analysis.
Arbitrum’s revenue figures remained subdued this year, mostly hovering under $50,000. However, there were two remarkable spikes: one in March, surging to $1.49 million, and a record $2.09 million in July.
Additionally, ARB transaction volume began 2023 on a high, climaxing in March with 3.09 million transactions. Post this, there was a lull, with volumes plunging below the 1 million mark in August. Yet, by the close of September, momentum seemed to swing back, once again breaching the 1 million daily transaction threshold. This surge is presumably tied to the revived enthusiasm around Arbitrum, leading to an uptick in user counts since September 19.
On the investment side, ARB’s value shot up by over 8% during the trading session on September 28, standing at $0.90. Similarly, other tokens associated with Arbitrum have witnessed significant gains: $SILO skyrocketed by 79%, $GRAIL climbed 41%, $PLS ascended by 33%, and $MAGIC rose by 11%. If Arbitrum maintains this upward trend, its short-term and long-term outlook could be bright. Given its current price of USD 0.903171 and a daily trading volume of USD 125,128,030, Arbitrum appears promising.
