Arbitrum’s ecosystem continues to showcase its strong foundations, highlighted by rising protocol revenues and a surge in user activity following recent network upgrades.
Last week, protocols on Arbitrum collectively generated $1.16 million in revenue, reflecting a modest 1% increase from the previous week. While this growth might seem minimal—almost akin to stablecoin stability—it actually signifies a resilient and thriving DeFi landscape within Arbitrum.
This upward trend can be attributed to the successful launch of ArbOS 40, the latest operating system upgrade for Arbitrum. This update has significantly boosted the usage of EIP-7702 smart accounts, recording over 1 million authorizations across more than 25 delegated contracts in less than three days post-upgrade.
GMX Maintains Its Position at the Top of Arbitrum’s Revenue Rankings
Leading the charge in Arbitrum’s weekly revenue is GMX, the perpetuals and spot trading platform, which generated $431,000—solidifying its status as the top revenue contributor in the ecosystem. GMX’s performance signifies a robust demand for on-chain derivatives trading and an expanding community of active traders and liquidity providers.
Following closely is Gains Network, another player in the DeFi sector focused on derivatives, which earned $154,000. Its near-top ranking highlights a strong demand for synthetic and leveraged trading instruments among users.
Newcomer Ostium Labs secured third place, contributing $102,000 to the weekly revenue. Its presence among the top three signifies that innovative protocols are making significant inroads into the market by attracting users with unique offerings.
Notable entries also include Uniswap, the leading decentralized exchange protocol, which generated $67,000, and Penpie, a yield optimization platform, pulling in $60,000. These figures illustrate the diverse range of successful applications within Arbitrum’s DeFi landscape, from trading to yield farming and staking strategies.
Rapid Adoption of EIP-7702 Smart Accounts
Technological advancements are just as crucial as financial performance on Arbitrum, especially following the ArbOS 40 launch. A key feature of this upgrade is the introduction of EIP-7702-compatible smart accounts—designed to enhance flexibility and user control over smart wallets.
Within days of deployment, over one million authorizations were logged across more than 25 contracts utilizing the EIP-7702 protocol. This swift adoption reflects not only developer enthusiasm but also significant user interest, suggesting that smart accounts will soon become an integral part of the user experience on Arbitrum.
The text indicates a positive reception from the community toward updates in the Arbitrum network’s framework, exemplified by the acceptance of ArbOS 40. This is crucial, as it indicates that community members embrace protocol enhancements and the cooperation of a broader user base.
A Stronger Foundation for DeFi Expansion
In summary, Arbitrum is on a solid and consistent trajectory toward growth and development. Revenues from both the layer and its associated protocols are increasing, exhibiting the necessary resilience all ambitious DeFi projects require to achieve long-term success. This growth is taking place within a Layer 2 environment built on Ethereum, which remains the leading platform for smart contract innovation.
As a hub for innovation in smart contract user experiences, Arbitrum is nurturing both established giants like GMX and emerging players like Ostium Labs in a competitively balanced ecosystem. Hence, Arbitrum represents not only a DeFi center but also a catalyst for rapid adoption, as evidenced by the introduction of smart accounts—a fresh layer of user experience aligned with the exciting narrative surrounding EIP-7702.
If current trends continue, Arbitrum is poised not only to retain its top position in the Ethereum Layer 2 sphere but also to redefine user interactions with decentralized protocols. The combination of steady protocol revenues, innovative development, and heightened user engagement paints a promising picture for Arbitrum’s future endeavors.