Arbitrum joined the Global Dollar Network, the stablecoin consortium led by Paxos, with the goal of capturing a share of the yield generated by the reserves backing the USDG digital dollar already circulating on its network.
ARB traded near $0.19 Wednesday, while market snapshots showed declines ranging from 7.62% to 9.01% across different periods and venues.
The Ethereum layer-2 scaling solution Arbitrum has become a member of the Global Dollar Network, a collaborative stablecoin initiative spearheaded by blockchain infrastructure provider Paxos. This partnership represents Arbitrum's strategy to generate revenue from the substantial stablecoin transactions occurring on its infrastructure.
ARB was down 8.97% over 24 hours. No long or short liquidations were recorded in the same one-hour period across Binance, Bybit and OKX.
ARB was down 9.59% over 24 hours at 10:03 p.m. ET Tuesday, based on Binance spot pricing and exchange liquidation data.
Arbitrum adds Paxos-issued USDG as a DAO proposal seeks 100 million ARB to support liquidity, adoption, and new stablecoin revenue.
Arbitrum's adoption of USDG could enhance DeFi liquidity and stability, fostering broader ecosystem growth and increased user engagement. Arbitrum adopts Paxos' USDG as ecosystem dollar with DeFi support.
The Ethereum layer-2 is backing Paxos-issued USDG to earn a share of reserve income as new stablecoin alliances compete for distribution, users and reserve economics.
The temporary pause covers Arbitrum One and Nova. Existing active Stylus contracts and Solidity deployments remain operational.
The precautionary measure targets a potential attack involving WebAssembly programs built with nonstandard Stylus compiler tools; existing apps and Solidity contracts remain unaffected.
Existing programs keep running, while a separate proof-conflict guard can delay unconfirmed withdrawals to Ethereum.
Arbitrum's security pause on Stylus activations highlights the critical balance between innovation and safeguarding network stability. Arbitrum pauses new Stylus activations in emergency security action.