ARB, the Arbitrum token, is now available on the Young Platform exchange! Here is all the info you need
As of today, the Arbitrum token (ARB) is available on Young Platform for purchase, custody and sale, whenever you want.
Yes, we’re finally resuming with new listings! We’ve chosen to start things off with ARB, a token that was recently launched and has been enthusiastically received by the crypto community in recent months.
Learn all about this cutting-edge project, what its benefits are and how to use it on Young Platform.
Arbitrum (ARB): the benefits and use cases
Arbitrum (ARB) is a project created to increase the scalability of Ethereum, and is built on top of the latter. This means that with its Layer 2 blockchain it is possible to carry out all the activities that are normally carried out on Ethereum, such as sending transactions or using decentralised applications, but in a cheaper and faster way.
Similar projects to Arbitrum (ARB) are Polygon (MATIC) and Optimism (OP), also Ethereum Layer-2s. Although Polygon has a very strong market capitalisation and innovation capacity, Arbitrum has a higher TVL, i.e. value locked on the chain (at the time of writing). Compared to Optimism’s token, on the other hand, ARB immediately ranked higher on the market, as well as for TVL.
Arbitrum bases its security system on Ethereum and is highly compatible with its applications, programming languages and smart contracts. This is why it has enormous adoption potential and already demonstrates high volumes: on the one hand, it is very easy and convenient for developers already familiar with Ethereum to switch to Arbitrum and thus enrich its ecosystem of services; on the other hand, crypto users using its network save on all transactions and can use a large number of apps with agility.
The advantages of this blockchain are clear: low fees, speed and flexibility. Let’s see now how to use the ARB token.
The main purpose with which it was launched in March 2023 is governance. It can be used to vote on decisions about the future of the project, such as protocol updates, use of the treasury and more.
The way this governance token works is simple: the more ARB tokens you have, the more power your vote will have, and you can delegate your tokens to allow other people to vote.
This is possible because, along with the ARB token, a DAO was also established to begin decentralising the management of the ecosystem, which was previously in the hands of just Offchain Labs and the Arbitrum Foundation.
Let us now see for which operations Arbitrum (ARB) is available on Young Platform.
How to use Arbitrum (ARB) on Young Platform?
Here are all the features available for Arbitrum (ARB) on Young Platform and Young Platform Pro:
- Buying and selling with EUR
- Recurring purchase
- Receiving from another wallet or sending via the Arbitrum One network
- Creating a Single Coin Moneybox or a Bespoke Bundle
Discover the Arbitrum (ARB) Market on the app and give a warm welcome to the 34th cryptocurrency listed on the exchange!
