Arbitrum: 10% of profits from the Social Network sorter will be distributed to the Arbitrum DAO and Developers Association

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Cointime2024/02/21 01:29

By:Cointime

Arbitrum officials announced on social media that the Bitcoin-staked Layer 2 network Social Network will settle on Ethereum, with 8% of sequencer profits going to ArbitrumDAO and 2% going to the Arbitrum Developers Association. Social Network is a Bitcoin-staked Layer 2 network supported by Arbitrum, where users can stake Bitcoin on Social Network and the network's transaction fees will be reduced to about 1 sats/byte; final determinism will be improved to less than 1 minute; and energy consumption per block will be reduced by 99%. The testnet has already been launched, and the Ordinals Freemint for early contributors will be launched soon.

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