Nansen Reveals Top Transactions on Arbitrum One with GMX Leading the Pack

03/18/2023 05:59 • Metaverse & Beyond • 98 views

On March 18, a blockchain analysis company, Nansen, released the on-chain contract log and intraentity transaction share data since the establishment of Arbitrum One. It was shown that GMX accounted for approximately 22% of the total transactions, ranking the first, with Treature (19%), SushiSwap (9%), Uniswap (6%), and Hop Protocol (5%) ranking the second to fifth. Nansen clarified that regarding ARB airdrops allocated to the community, the on-chain contract log and intra-entity transaction share are only one of many indicators related to the activities of DAO on the Arbitrum chain, and are not the only input points for ARB token airdrops allocation.

Nansen: Since the establishment of Arbitrum One, GMX has had the highest share of contract logs and intra entity transactions of approximately 22%

Analysis based on this information:

Nansen, a blockchain analysis company, released information on the on-chain contract log and intraentity transaction share data since the establishment of Arbitrum One. The data showed that GMX accounted for approximately 22% of the total transactions, making it the top transaction on the platform. Following GMX, Treazure, SushiSwap, Uniswap, and Hop Protocol rounded out the top five spots with transaction percentages of 19%, 9%, 6%, and 5%, respectively.

The data provided by Nansen should provide a better understanding of the transactions that take place on Arbitrum One. However, it is clear that these figures are not the only factors that are considered when it comes to ARB airdrops allocations. Nansen made it clear that there are several indicators related to the activities of DAO on the Arbitrum chain that are taken into account.

The data provided by Nansen highlights the various uses of the Arbitrum One platform. GMX, a token used for governance and staking on the Gnosis platform, has clearly been a popular transaction on the platform. Treazure, a platform for NFTs, is also close behind, followed by the popular decentralized exchanges, SushiSwap and Uniswap. Hop Protocol, a blockchain-based interoperability platform, rounds out the top five.

It is important to note that while these figures provide insights into which transactions occurred most frequently, they should not be taken as a complete picture of how the platform is being used. There could be other data points that are not being accounted for that could also impact the overall allocation of ARB airdrops. DAOs are complex organizations, and there are multiple things to consider when determining how allocations are made.

In conclusion, the data provided by Nansen helps provide a better understanding of the transactions that take place on the Arbitrum One platform. GMX has been the most popular transaction on the platform, with Treazure, SushiSwap, Uniswap, and Hop Protocol following closely behind. However, this is just one of many factors that are taken into consideration for ARB airdrop allocations. As DAOs and blockchain technology continue to evolve, it is important to keep a close eye on these types of data points to better understand how they impact the overall ecosystem.

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