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What is the token used by Arbitrum?

avatarAnkur Das Ankur DasJun 09, 2022 · 3 years ago3 answers

Can you please tell me what token is used by Arbitrum? I am curious to know more about it and how it is used in the Arbitrum ecosystem.

What is the token used by Arbitrum?
Arbitrum
Token
Cryptocurrency

3 answers

  • avatarJun 09, 2022 · 3 years ago
    Arbitrum uses a token called ARB. It is the native token of the Arbitrum ecosystem and is used for various purposes such as paying for transaction fees, participating in governance, and incentivizing network validators. ARB is an ERC-20 token and can be traded on various cryptocurrency exchanges.
  • avatarJun 09, 2022 · 3 years ago
    The token used by Arbitrum is called ARB. It plays a crucial role in the Arbitrum ecosystem by facilitating transactions, securing the network, and enabling decentralized governance. ARB can be obtained through various means such as participating in liquidity mining programs or purchasing it on supported exchanges.
  • avatarJun 09, 2022 · 3 years ago
    Arbitrum utilizes the ARB token as its native cryptocurrency. This token is essential for the functioning of the Arbitrum network, as it serves as a medium of exchange, store of value, and unit of account. Holders of ARB tokens can also participate in the decision-making process through voting on governance proposals.

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