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28 September 2021

$2 Billion Flows Into Ethereum Project Arbitrum, Mostly to Farm Nyan Meme Token - Decrypt

$2 Billion Flows Into Ethereum Project Arbitrum, Mostly to Farm Nyan Meme Token - Decrypt


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$2 Billion Flows Into Ethereum Project Arbitrum, Mostly to Farm Nyan Meme Token.

Over $2 billion has been pumped into Ethereum scaling solution project Arbitrum in less than one week?

And it has been a roaring success: since September 8, $1.44 billion in NYAN tokens has been pumped into the project,accordingto DeFi Llama.

Meme tokens like NYAN often have a yield farming element to them, meaning investors can lock them up and earn rewards—which is exactly what NYAN promises

But regardless of the risks of investing in DeFi meme tokens, the money being pumped into Arbitrum shows there is a huge appetite for them.

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