Fireblocks is currently celebrating the explosion of institutional participation in DeFi with 7 days of new protocol launches.
So far, we’ve already launched support for Avalanche and Fantom. Today, we’re adding Arbitrum, an innovative, EVM-compatible protocol that executes transactions off-chain – empowering faster processing and lower fees than Ethereum.
Unlike regular Etherum dApps, smart contracts on Arbitrum compile separately from the Ethereum blockchain. Code and transactions execute off-chain on sidechains or state channels to process transactions faster and with up to 270 times lower fees. These lower costs help to make DeFi more accessible.
Arbitrum is unique among Layer 2 protocols aiming to improve Ethereum’s speed and scalability due to its superior EVM-compatibility and commitment to simplify development to bridge DeFi applications from Ethereum. Arbitrum’s developer-friendly approach, commitment to simplification, and “optimistic” approach to transaction validation has been strongly received in the industry and attracted major partners.
Arbitrum doesn’t have it’s own token, as the developers do not feel there is a need for one – fees can be paid with Ether, instead of a unique native token. They want users to feel exactly like they are interacting with the Ethereum blockchain, but with transactions costing a fraction of Ethereum’s fees.
How can I access Arbitrum with Fireblocks?
Fireblocks users can now securely access Arbitrum’s suite of dApps using Fireblocks DeFi API or WalletConnect. Some of the top dApps available to Fireblocks on Arbitrum include:
Stay tuned – we have 4 more days left in our 7 Days of DeFi, with several new protocols to come.