DeFi Speculators Awaiting Arbitrum Token Flock to GMX

[Markuri33]

Last week's Nitro upgrade brought significant improvements, but no native token yet. Arbitrum, one of the most popular Ethereum Layer 2 scaling solutions, successfully launched its Nitro upgrade this past week. Although the release brought many significant improvements, a native Arbitrum token was not one of them.

As investors wait for Arbitrum to launch its own token, perpetual futures exchange GMX—one of a few native projects built on Arbitrum—has meanwhile become a popular DeFi trading exchange.Arbitrum is based on what is known as an "optimistic rollup," a type of data compression technique where many blockchain transactions are 'rolled up’ into a single transaction to save processing time and fees.

The Nitro upgrade improves the user experience for application developers, reduces network fees, and increases transaction speed. The upgrade could reduce the protocol’s fees by up to 27% as it compresses data sent to Ethereum mainnet for validation.more