#arbitrum

This week attack targeted KyberSwap’s Elastic pools, impacting funds across various blockchains, including Arbitrum, Ethereum, Polygon, Optimism, and Base.

Base, engineered on OP Stack as a second layer network, has managed to surpass Arbitrum and Optimism in the number of daily transactions this week. Data from The Block highlighted that on August 15, Base's moving average reached 610,000 transactions, while the counts for Arbitrum and Optimism stood at 576,000 and 597,000, respectively. Although Optimism currently holds a slight lead, overall, the networks are closely competing.

Concentric, a liquidity management protocol on the Arbitrum network, has suffered an exploit. A social engineering attack on a team member enabled a hacker to access the wallet utilized for smart contract deployments.

Following a community vote, Arbitrum has decided to disburse the remaining ARB tokens from its initial round of grant funding. Out of the numerous projects, only 29 secured enough votes in the first round.

Leading Italian automaker FIAT, in partnership with the Zealy platform and Arbitrum blockchain, is set to release 55,000 exclusive FIAT Pass NFTs today at 11:00 a.m. ET. These NFTs will be distributed from November 21 to November 30, 2023, on a first-come, first-served basis to users on the whitelist.

Coinbase's blockchain, Base, has set a new daily transaction record, reaching 1.88 million transactions. This achievement surpasses its previous high of 1.41 million transactions, established shortly after its launch in August. Notably, this number surpasses the combined daily transactions of both Optimism and Arbitrum, which totaled 878,000 transactions.

After the market crash on August 18, analyst Andrew Kang adopted a bullish stance. He opened long positions on Bitcoin (BTC), Ethereum (ETH), and Arbitrum (ARB). However, this decision resulted in a significant loss. Due to his use of extremely high leverage, which reached up to 100x, Kang's positions became vulnerable and were liquidated not once, but as many as fourteen times. These successive liquidations caused Kang to lose approximately $432,000 in a single day. This incident highlights the risks associated with trading and employing high leverage, especially during periods of intense market volatility.

The TVL of Coinbase's blockchain has surged to $146 million following its mainnet launch, surpassing StarkNet's TVL of $112 million. What's particularly striking is that roughly 87% of Base's TVL is held in ETH. However, the network's throughput still has room for improvement, with its TPS standing at roughly 5.81. For comparison, here are the TPS figures of other L2 solutions: Optimism — 6.88 Arbitrum One — 7.26 zkSync Er — 10.72