The native token of Orbs, a public blockchain infrastructure network, has been launched on Arbitrum, an Ethereum rollup. Users will enjoy lower gas fees and faster transaction times while engaging with the asset thanks to the ORBS token’s entry on the prominent Layer-2 solution.
Axelar, a Turing-complete interchain network, is assisting Orbs expansion from Ethereum to Arbitrum. Users may begin transferring their ORBS tokens from Ethereum to Arbitrum utilizing Axelar’s Satellite Bridge by clicking the following link. So far, over 700,000 cross-chain swaps totaling over $1.8 billion have been made possible thanks to the Axelar network.
“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. While Ethereum remains the network of choice for many, we want 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 developed into a thriving ecosystem for decentralized apps (dApps), and since the start of the year, more new wallets have started transactions on the network. This statistic even allowed Arbitrum to overtake Ethereum on certain days in Q2.
Orbs’ choice to connect with Axelar and add its token to the Arbitrum network shows that it is in line with the network’s recent advances, such as the integration of Y2K’s DeFi Notifications and dTWAP and dLIMIT on Chronos DEX.
Source: https://thenewscrypto.com/orbs-utilizes-axelar-satellite-bridge-to-expand-onto-arbitrum-blockchain/