Arbitrum One as the first layer-2 to reached $20 bilion in TVL

Arbitrum, a cryptocurrency network, announced on its official account that the total value locked (TVL) of its layer-2 platform has reached $20 billion.

Arbitrum in X’s post on December 03 claimed that the total locked value (TVL) of the initial layer-2 platform could reach $20 billion or double digits, specifically an increase of 14.2%.

“Arbitrum One becomes the first L2 to reach $20 billion in TVL. We did this by innovating together; Phase 2 horizon and ecosystem growth are occurring across all verticals; The sky’s the limit on how far we can scale. Accelerate,”

Arbitrum mentioned in the article.

According to L2Beat data, Arbitrum One generated $20 billion in TVL, including $6.64 billion in canonical, $5.32 billion in external and $8.12 billion in domestic. This milestone also surpasses rivals including Base at $12.4 billion, OP Mainnet at $8.56 billion, and Blast at $1.55 billion.

Arbitrum (ARB) has the highest locally minted value on this platform with approximately $4.3 billion, followed by USD Coin (USDC) with a value of $2.2 billion.

Phase 2 of Arbitrum One is still ongoing and some issues need to be fixed: anti-fraud shipping, upgrade not related to on-chain, and security council action not limited to on-chain.

Arbitrum fuels the growth of artificial intelligence

The Arbitrum Foundation also actively supports the artificial intelligence (AI) industry; One of the support initiatives is a $1 million grant to Arbitrum Network. Trailblazer AI Grant is an initiative for developers and creators committed to building AI agents on Ethereum layer-2.

This AI is also helping bring thousands of applications to Arbitrum and providing the opportunity to explore projects ranging from non-fungible tokens (NFT) to ERC20 tokens. Projects deemed appropriate during the process will be awarded $10,000.

Besides this, this initiative to bring artificial intelligence to Arbitrum will unlock the potential of layer 2.