Arbitrum has made an innovative announcement regarding the support of custom gas tokens for Arbitrum Orbit chains.
Arbitrum Orbit chains now support Bridged USDC as a custom gas token. This is a significant milestone in the improvement of the transaction procedures within the Arbitrum ecosystem.
Users can anticipate enhanced accessibility, price stability, and convenience as a result of this advancement. Additionally, it will provide builders with a greater number of customization options.
The capacity for users to pay transaction fees with bridged USDC is one of the most significant advantages of this update. As a result of this modification, users are no longer required to maintain multiple categories of tokens solely to cover gas expenses. This will simplify the transaction procedure and improve its user-friendliness. The impact of supporting bridged USDC as a gas token is significant, given the over $1.6 billion in native USDC that is currently on Arbitrum. It substantially reduces the entry barrier for new initiatives and their users.
The introduction of custom gas tokens presents creators with an abundance of opportunities to customize their Orbit chains. Orbit RaaS (Rollup-as-a-Service) providers offer a standard configuration option that enables the rapid configuration of this feature. Builders may also submit applications for the USDC Grant Program through Circle. This will equip them with additional resources to innovate and develop within the Arbitrum ecosystem.
A strategic decision to facilitate user engagement with Arbitrum Orbit chains is the incorporation of bridged USDC as a gas token. Users no longer require the conversion of their assets into various tokens in order to engage with the network, as USDC is both stable and widely accepted within the crypto community. New projects that are seeking to attract users who may be hesitant to traverse the complexities of holding and managing various tokens will find this change to be particularly advantageous.
Also Read: Morgan Stanley promotes Bitcoin through an exchange-traded fund (ETF)
