Gas fee volatility data from Arbitrum blockchain

Arbitrum Orbit Blockchains Adopt USDC as Gas Token in DAO Approved Move

Aug 7, 2024, 04:30 PM

Arbitrum, a prominent Ethereum Layer 2 scaling solution, has announced a partnership with Circle, a financial services company, to integrate Circle’s bridged USDC as a custom gas token on Arbitrum Orbit blockchains. This integration aims to enhance user experience by providing a stable and predictable gas fee environment, eliminating gas price volatility, and increasing accessibility. The move allows developers to use USDC as a custom gas token, which is expected to facilitate the creation of new applications, particularly those requiring payment rails for a frictionless user experience. The deployment of USDC as a gas token is available on Caldera chains within Arbitrum Orbit, and it is seen as a significant step forward in improving the crypto user experience by offering easier payments and enhanced stability. This development also taps into the substantial liquidity available on Arbitrum, with over $1.6 billion in assets, and features block times ranging from 150 to 250 milliseconds. Conduit is also involved in the deployment, and the initiative is DAO approved.