ORBS Expands to Arbitrum Blockchain via Axelar Satellite Bridge
Tel Aviv, Israel--(Newsfile Corp. - August 28, 2023) - The native token of public blockchain infrastructure network Orbs is being launched on Ethereum rollup Arbitrum. The arrival of the ORBS token on the major Layer-2 solution aims to provide decreased gas costs and improved transaction speeds when interacting with the asset.
Orbs' expansion from Ethereum to Arbitrum is being facilitated by Axelar, a Turing-complete interchain network. Users can start using Axelar's Satellite Bridge to transfer their ORBS tokens from Ethereum to Arbitrum using the following link. To date, the Axelar network has helped to facilitate over 700,000 cross-chain swaps, aggregating to a transaction volume of over $1.8 billion.
"This strategic move represents a significant milestone for Orbs. By expanding our ecosystem to Arbitrum, we are taking a momentous step towards enhancing user experience and addressing long-standing scalability challenges," said Ran Hammer, Vice President Of Biz Dev at Orbs. "Integrating with Arbitrum aligns perfectly with our vision. The Company's intention is to make it as easy as possible for people to interact with Orbs without having to contend with prohibitive gas costs."
With a TVL of over $2 billion, Arbitrum has become a flourishing ecosystem for decentralized applications (dApps) and the number of new wallets initiating transactions on the network has risen since the turn of the year.
Orbs' decision to integrate with Axelar and bring its token to the Arbitrum network reflects its alignment with remaining blockchain agnostic and recent developments on the network, including dTWAP and dLIMIT on Chronos DEX and Y2K's DeFi Notifications integration.
Orbs is a blockchain infrastructure project founded in 2017. Developed by a dedicated team of over 30 people, including members in Tel Aviv, London, New York, Tokyo, and Seoul, Orbs supports applications such as dTWAP and dLIMIT, TWAP and limit order protocols that are 100% decentralized, EVM compatible, and can integrate with most DEXs.
Arbitrum is a Layer 2 solution built to enhance the capabilities of Ethereum smart contracts. Its primary goals are to augment speed and scalability while also introducing additional privacy features. This platform is meticulously designed to offer developers the convenience of running unmodified Ethereum Virtual Machine (EVM) contracts and transactions on a secondary layer. This approach retains the robust security of Ethereum's primary layer.
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