Arbitrum experienced a significant increase in daily revenue on Thursday, driven by a surge in transactions during the LayerZero (ZRO) token claim.

Arbitrum’s Revenue and Transaction Spike

According to data from a popular Dune dashboard focused on Arbitrum economics, the Ethereum layer-2 network recorded just $20,000 in daily revenue on Wednesday, June 19. However, on June 20, the day LayerZero’s airdrop claim began, the total revenue soared. The Arbitrum network processed 3.7 million transactions, an increase of 1.2 million transactions compared to the previous day.

Impact of LayerZero Airdrop

Austin Marrazza, product manager at Offchain Labs, emphasized that the ZRO claimers generated substantial traffic. As a result, Arbitrum DAO collected over $3 million in congestion fees. Marrazza noted, “One of the biggest winners from the LayerZero airdrop — Arbitrum. DAO raked in $3 million in congestion fees from claiming traffic today.”

Details of the Airdrop

The LayerZero airdrop distributed 8.5 million ZRO tokens, representing 8.5% of the total supply of 1 billion tokens. This event marked a significant achievement for Arbitrum as ZRO claimers flocked to the platform.

Network Performance and Costs

Arbitrum’s ability to process ZRO tokens atomically, without relying on LayerZero cross-chain messaging, gave it a competitive edge. The network’s average gas price rose from 0.011 gwei to over 2.189 gwei, causing transaction fees to increase.

Data from Dune indicated that on June 20, network costs reached $140,200, while revenue hit $3.43 million, resulting in a profit of $3.29 million. In terms of Ether (ETH), costs were 40 ETH, and revenue was 956 ETH, leading to a profit of 916 ETH.

Understanding Arbitrum’s Financials

On the Arbitrum platform, revenue is generated from transaction fees on Arbitrum One, while costs are associated with posting data to Ethereum. According to the datawarlock dashboard, Arbitrum has accumulated over $57 million in profit to date.

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