Offchain Labs, the company building the Arbitrum ecosystem, has announced a “strategic purchase plan” to add ARB, the native token of the Arbitrum ecosystem, to its treasury. The firm said it plans to acquire the tokens on the open market and in other transactions over a period of time — though it did not provide specifics on how many ARB tokens it intends to acquire.
Instead of a one-time purchase, the acquisition will be made gradually, following a phased approach based on parameters set by the company in advance. The decision to increase its ARB holdings is consistent with Offchain Labs’ ongoing efforts to support the expansion of the ecosystem, including technical advances like Arbitrum BoLD, Orbit, and Stylus, as well as other strategic initiatives of the Arbitrum DAO.
Arbitrum remains one of the top Layer 2 solutions on Ethereum, with a total value locked of over $2.3 billion. Its flagship network, Arbitrum One, uses optimistic accumulation to improve Ethereum’s scalability by processing transactions off-chain and sending batch proofs to the Ethereum mainnet to reduce costs and increase transaction speeds. The price of ARB has fallen significantly over the past year. At the time of writing, ARB is trading at $0.3255, according to CoinMarketCap.
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