Arbitrum Nova: A Second Chance for Airdrop
Arbitrum Nova is a scalable platform for developing and deploying decentralized applications (DApps) on the basis of the Ethereum Virtual Machine (EVM).
Arbitrum is a Layer 2 technology that has two ecosystems: Arbitrum One and Arbitrum Nova. The first ecosystem is responsible for hosting NFTs and DeFi projects, while the second focuses on social and gaming applications.
On March 23, the ARB token was listed on multiple crypto exchanges, causing a stir among the network's users. Many were pleased to receive a retroactive airdrop for their activity on the blockchain. At the Ethereum Denver conference, developers announced their intentions to release the ARB token for the Arbitrum Nova network.
In this article, we will discuss the activities on Arbitrum Nova that could potentially reward early adopters.
Cross-chain bridges
Using cross-chain bridges was one of the ways to earn rewards on the Arbitrum network, so it's important to pay special attention to this activity. In any case, to use the Arbitrum Nova network, users need to transfer their coins from any blockchain to this network, which makes the bridge a necessity.
Some of the most commonly used bridges on Arbitrum include:
● Arbitrum Bridge, which connects Arbitrum One and Arbitrum Nova.
● Celer, a cross-chain platform that supports the migration of tokens and NFTs between networks.
● Orbiter Finance, one of the largest cross-chain bridges that also facilitates the transfer of funds between the zkSync and StarkNet blockchains.
To receive rewards on Arbitrum Nova, it's crucial to use these bridges regularly, at least once a month.
Orbiter cross-chain bridge user interface
DeFi apps and DEXs
Despite being primarily focused on the gaming sector, Arbitrum Nova supports several decentralized applications that can provide dividends.
Some of these dApps include:
● Slingshot. A trading platform that enables fast and seamless token swaps. The app also features its own bridge and promises to add crypto lending and liquidity farming features in the future;
● Arbswap. A decentralized platform available on the Mainnet and Testnet Arbitrum and Arbitrum Nova. It offers token exchanges, liquidity additions, a range of activities for predicting the price of ARB, and its own launchpad;
● RPCSwap. A DEX exchange with a token swap feature, mainly for ETH and some stablecoins;
● Sushi. A large decentralized platform that supports trading operations on 20 cryptocurrency networks, and recently added support for Arbitrum Nova.
NFT-marketplaces
To effectively engage with the NFT sector, one must interact with it directly. Currently, Arbitrum Nova offers two marketplaces – Tofu and Exhibitio – that allow users to perform actions such as creating, buying, and selling NFTs. These marketplaces offer a similar experience to those on other blockchains and can be a great starting point for those looking to explore the NFT ecosystem.
Gaming
Undoubtedly, GameFi is the primary focus for Arbitrum Nova. Although the current list of gaming projects on this network is not as extensive as that of other networks, there are still several popular platforms available. These platforms cater to a range of interests and include a variety of games that offer a unique and engaging experience:
● Fronk World. This online game is filled with quests and attributes commonly found in role-playing games. However, the project is still in its early stages of development. Currently, it is possible to mint NFTs worth 0.0099 ETH, which could potentially grant access to the beta version of the game;
● Battle for Goblin Town: a card strategy game with pixelated heroes;
● Farcana: a web3 shooter built on the UE5 game engine;
● Metagates: an open-world MMORPG with PvP, PvE, crafting, and various quests;
● Starfall: a web3 game in the style of a multiplayer online arena.
Please note that all official Twitter links to the projects are provided as hyperlinks. This is because most of these projects are still in development and do not have a finished product yet. It would also be beneficial for you to join the Discord channels of each game, as this will help you increase your activity rating and keep you up-to-date with the latest news.
Project summary
According to DeFiLama, an analytics resource, the Total Value Locked (TVL) in the Arbitrum Nova network is currently at $2.3 million. While this may seem like a small number compared to the $2.2 billion locked in the Arbitrum One blockchain, it's worth noting that the team is actively developing both networks, and Arbitrum Nova could potentially become a significant player in the GameFi sector. This, in turn, could boost the blockchain's overall usability and TVL.
Arbitrum Nova TVL chart (DeFiLama)
It's important to keep in mind, however, that all activities on Arbitrum Nova take place on Mainnet and come with real-world costs. Therefore, it's crucial to avoid investing more in potential retracements than you can afford.
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