Airdrop Farmers Eye Ethereum Layer 2s For Potential Tokens

Scroll Launches Testnet, Raises $50M

By: Samuel Haig Loading...

Airdrop Farmers Eye Ethereum Layer 2s For Potential Tokens

Some traders believe that an Arbitrum airdrop may be just around the corner, with Polymarket’s prediction market for whether the Layer 2 will drop its token by the end of March surging 150% earlier today.

Arbitrum is the leading Ethereum Layer 2, offering users fast and cheap transactions while plugging into the security offered by Ethereum. The crypto community has long tipped that the project may airdrop a native token to early users, but Arbitrum hasn’t confirmed whether or not it will issue a token.

Polymarket hosts predictive markets where users trade contracts corresponding to whether an event will or won’t take place. The price of the ‘Yes’ and ‘No’ contracts combined adds up to $1.00, with either contract trading between $0.01 and $0.99.

The ‘Yes’ contracts corresponding to the platform’s market for whether Arbitrum will airdrop a token by March 31st started the day at $0.28. Within three hours, the contract was changing hands for $0.68, but it has since retraced back down to $0.32.

“Looks like someone knows something about the Arbitrum airdrop,” Polymarket tweeted.


Polymarket predictive market for Arbitrum airdrop this month. Source: Polymarket.

Scroll Testnet

Airdrop farmers are also converging on the latest testnet deployment of Scroll, a Layer 2 rollup powered by zero-knowledge proofs.

On Feb. 28, Scroll launched its “alpha” deployment on Ethereum’s Goerli testnet. On Monday, Scroll tweeted that 180,000 unique wallets have already executed 665,000 transactions on its testnet.

The team also closed a funding round featuring participation from top VC firms, including Sequoia China, Polychain Capital, and Bain Capital Crypto. The Block reported that Scroll raised $50M at a $1.8B valuation.

Scroll is among several teams working to deliver the first zero-knowledge powered rollup boasting compatibility with the Ethereum Virtual Machine (EVM) — Ethereum’s core smart contract engine. Matter Labs, Polygon, and ConsenSys also have their own zkEVMs under development.