Arbitrum saw a significant increase in daily revenue on Thursday due to a surge in transactions driven by the LayerZero (ZRO) token claim. Data on datawarlock, a popular Dune dashboard for Arbitrum economics, revealed that the Ethereum layer-2 network only generated $20,000 in daily revenue on Wednesday, June 19. However, on June 20, when the LayerZero’s airdrop claim opened, the total revenue surged as the network witnessed 3.7 million transactions, 1.2 million more than the previous day.
Austin Marrazza, the product manager at Offchain Labs, highlighted that the massive traffic from ZRO claimers resulted in Arbitrum DAO collecting over $3 million, making it one of the biggest winners from the LayerZero airdrop. LayerZero’s airdrop offered 8.5 million ZRO tokens, accounting for 8.5% of the total supply of 1 billion. This airdrop proved to be a major success for Arbitrum as ZRO claimers flocked to the platform.
Due to its capacity to process ZRO tokens without relying on LayerZero cross-chain messaging, Arbitrum experienced a surge in its average gas price and transaction fees. According to data from Dune, the network’s costs on June 20 reached $140,200, while revenue hit $3.43 million, resulting in a profit of $3.29 million. The costs and revenue were 40 ETH and 956 ETH respectively, with a profit of 916 ETH.
The revenue on Arbitrum refers to transaction fees from Arbitrum One, while the costs are related to posting data to Ethereum. Overall, as indicated by the datawarlock dashboard, Arbitrum has recorded a total profit of over $57 million.