Arbitrum Now Supports USDC as a Custom Gas Token on Orbit Chain

Bittime - Arbitrum, Layer 2 in the Ethereum ecosystem, officially states that Orbit Decision can now use USDC as a custom gas token. Read this article to find out the full news!  

Arbitrum and Orbit

Arbitrum is a Layer 2 solution for Ethereum designed to increase transaction speed and reduce gas fees. Decision has attracted the attention of many DeFi, DApps, and NFT projects due to its ability to offer efficient and cost-effective solutions

By utilizing Optimistic Rollup technology, Decision allows transactions to be processed outside the Ethereum mainnet and then returned to the main chain with lower fees and higher efficiency. 

Meanwhile, Orbit is an on-chain ecosystem built on mainnet Decision. Orbit offers developers more flexibility in designing and managing their own blockchain networks, while retaining the scaling advantages of the technology Decision. 

Read Also: Arbitrum Proposes Orbit Chain to Be Placed on a Blockchain Other than Ethereum

USDC as a Gas Token on Orbit Arbitrum

USDC integration as a custom gas token on the Orbit chain Decision was a major breakthrough. USDC, a stablecoin issued by Circle and pegged to the US dollar.

By allowing USDC to be used as a gas token, Decision giving application developers more flexibility to manage transactions on their network.

In the blockchain ecosystem, gas fees are fees that users pay to validate transactions on the network. Typically, these fees are paid in the form of the platform's native token, such as ETH on Ethereum. 

However, with the advent of USDC as a new option for gas fees, users can leverage the value stability of USDC to pay their transaction fees, reducing the risk of volatility typically associated with using more volatile tokens such as ETH.

Impact on Developers and Users

With USDC as a gas token, applications can be designed with more efficient and frictionless payment channels. This is especially important for applications that require a seamless user experience, such as trading platforms, blockchain-based games, and DeFi services.

For example, DeFi platforms that require fast interactions and low transaction fees will greatly benefit from the ability to use USDC as a gas fee. This not only makes it easier to plan operational costs, but also attracts more users who want stability in transactions.

Read Also: Aave DAO Announces Launch of GHO Stablecoin on Arbitrum

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