On March 16, Arbitrum Foundation announced that the network's native token will be airdropped to members of the network's community on Thursday, March 23. From March 16, users of this network were able to check their eligibility to receive ARB tokens at arbitrum.foundation. But this event created excitement among all users in the cryptocurrency world. Users who missed receiving ARB token airdrops started registering transactions in them hoping to receive airdrops from other platforms. On the other hand, users who were eligible to receive airdrops had a double incentive to receive airdrops from other platforms. There are many options on this list, but the Starknet chain is definitely one of the most important. Starknet is a permissionless decentralized Validity-Rollup (also known as a “ZK-Rollup”). It operates as an L2 network over Ethereum, enabling any dApp to achieve unlimited scale for its computation.

For this reason, in this dashboard, we decided to investigate the impact of Arbitrum chain's native token airdrop on Starknet network activities.

In this dashboard, we examine the impact of ARB token distribution on Starknet network activities. For this purpose, we consider the transactions during which assets are bridged from the Ethereum network to Starknet.

In fact, we want to investigate whether the distribution of ARB had an effect on the amount of assets transferred from Ethereum to Starknet or not? On the other hand, has the number of Starknet network users changed after the ARB token airdrop announcement? How about the number of transactions? Have users who received ARB tokens bridged their assets from the Ethereum network to Starknet? This dashboard consists of 4 parts. In the first part, the amount of assets transferred from Ethereum to Starknet is examined. In the second part, the number of token transfer transactions from Ethereum to Starknet is evaluated. In the third part, the growth of Starknet network users is analyzed. Finally, the activity of users eligible to receive Arbitrum airdrops in the Starknet network will be analyzed.

This dashboard uses Flipsidecrypto database to extract data. The time period from March onwards has been considered to examine the impact of ARB token distribution on asset bridging from Ethereum to Starknet. On March 16, the announcement regarding the native token airdrop on Arbitrum network was made. Therefore, the time period considered was divided into before and after the announcement.

In fact, we are looking for changes in Starknet network activities after March 16 compared to before this date. Currently, ETH, USDC, USDT, DAI and WBTC can be deposited from Ethereum to Starknet, so we used the following addresses:

• origin_to_address='0xae0ee0a63a2ce6baeeffe56e7714fb4efe48d419' StarkNet: StarkGate ETH Bridge
• origin_to_address='0x659a00c33263d9254fed382de81349426c795bb6' StarkNet: StarkGate DAI Bridge
• origin_to_address='0x283751a21eafbfcd52297820d27c1f1963d9b5b4' StarkNet: StarkGate WBTC Bridge
• origin_to_address='0xbb3400f107804dfb482565ff1ec8d8ae66747605' StarkNet: StarkGate USDT Bridge
• origin_to_address='0xf6080d9fbeebcd44d89affbfd42f098cbff92816' StarkNet: StarkGate USDC Bridge

On the other hand, since we are examining the volume and number of deposits to Starknet, we set a condition of ORIGIN_FUNCTION_SIGNATURE in ('0xe2bbb158','0xb6b55f25'). We also extracted data related to ETH deposits to Starknet from table ethereum.core.ez_eth_transfers and used table ethereum.core.ez_token_transfers to obtain data related to deposits of other tokens to Starknet. In the final section of this dashboard, we examined eligible users' activity in receiving ARB tokens on Starknet network. Therefore, first we identified addresses that claimed ARB tokens using select to_address from arbitrum.core.fact_token_transfers where contract_address='0x912ce59144191c1204e64559fe8253a0e49e6548' and from_address='0x67a24ce4321ab3af51c2d0a4801c3e111d88c9d9' and ORIGIN_FUNCTION_SIGNATURE in ('0x4e71d92d','0x78e2b594') and then examined their activity as asset depositors from Ethereum network to Starknet.

Examining the graph related to the volume of assets bridged from Ethereum to Starknet brings interesting results. On March 16, at the same time as the announcement of the ARB token airdrop, the amount of assets transferred to Starknet increased. In the days after the news of airdrop distribution, the volume of assets deposited to Starknet increased dramatically, so that on March 25, the volume of bridged assets reached the highest value of all time with a growth of 1009% compared to March 16. A total of about $3.294M USD was bridged from the Ethereum chain to Starknet on this day. About 90.4% of the transferred assets were related to ETH. After ETH, USDC was second with a volume equivalent to $177K USD. After the announcement of the ARB token distribution, the average amount deposited to Starknet per transaction and the average amount deposited per user did not change significantly. Therefore, it can be concluded that after March 16, the volume of the bridge in each transaction did not increase the total volume of assets transferred to Starknet, rather, with the increase in the number of transactions, the volume of asset bridged to Starknet has increased.

All statistical indicators for the volume of assets deposited to Starknet have increased after March 16.

• Maximum Deposit Volume: 207K $USD ➡ 3.294M $USD
• Average Deposit Volume: 151K $USD ➡ 2.048M $USD
• Median Deposit Volume: 161K $USD ➡ 3.045M $USD
• Minimum Deposit Volume: 12.6K $USD ➡ 864M $USD

The average daily volume deposited into Starknet after March 16 increased by 1256% from $151K USD to $2.048M USD. The largest volume deposited to Starknet before March 16 was equal to 207K $USD, while after the news of the airdrop of the Arbitrum chain, the largest daily volume bridged to Starknet is equal to 3.294M $USD. Examining all the tokens bridged to Starknet also shows that the deposit volume of all of them has increased after March 16.

After March 16, the number of asset transfer transactions to Starknet increased dramatically. Even the number of transfer transactions on March 16 was about 29% higher than the highest number of transfer transactions to Starknet before the news of the Arbitrum airdrop. As mentioned, on March 25th, the amount of assets bridged to Starknet was the highest amount of all time. On this day, the number of transfers to Starknet was also more than ever before. 15.6k transfers from Ethereum to Starknet have been registered on this day. The lowest number of transfers before March 16 was on March 11. Only 141 transactions were registered on this day. While after March 16, the lowest number of bridges to Starknet is related to April 5. A total of 3.59k transactions were registered on this day. The average number of transfers from Ethereum to Starknet before the announcement was equal to 723 transactions, while this value for the after airdrop is equal to 9.44k transactions. The number of ETH, USDC, USDT and WBTC deposit transactions increased by 1219%, 537.5%, 814% and 110% respectively after March 16.

Reviewing the activity of users eligible to receive ARB tokens on the Starknet platform shows that a large number of these users interacted with Starknet after March 16. Many of them also transferred their assets from Ethereum to Starknet for the first time. On March 26, a total of 4.3K users eligible to receive ARB tokens were interacting with Starknet (32.3% of the total number of Starknet users). On the other hand, on this day, about 62.1% of these addresses were users who transferred their assets from Ethereum to Starknet for the first time. After March 16 and among users who received ARB tokens as airdrops 0xe2d992e4ead1c60a269ca17cf17e855f18e51db0 has bridged the most assets from Ethereum to Starknet . This address, which received 3125 ARB tokens for the Arbitrum network airdrop, has bridged a total of $520K USD from the Ethereum network to Starknet. On the other hand, among the users receiving ARB token, the address 0xb75c4b7508b3ae23f33166ce6f5fbc9a45a72a26 has the highest number of asset deposits from Ethereum to Starknet. This address, which has received 6500 ARB tokens, has registered a total of 40 deposit transactions to Starknet. After March 16, about 51.9% of users receiving ARB tokens have bridged between 10 and 100 USD each from Ethereum to Starknet. About 34.5% have also bridged between 100 and 1000 USD to Starknet. On the other hand, 215 users were identified who each deposited less than 1 USD to Starknet. 9 users have also deposited over $100K USD from Ethereum to Starknet.

Examining the graphs related to the number of depositors from Ethereum to Starknet also has the same results as in the previous sections. On March 16, the number of users reached 1.41K addresses, of which about 67% were users who were transferring their assets from the Ethereum network to Starknet for the first time. The average number of users before March 16 was 694 addresses per day. This means that the number of users increased by about 103% on the day of the ARB token airdrop news. In general, after March 16, about 81.7% of users who interacted with Strknet are addresses that transfer their assets from Ethereum to Starknet for the first time. Even on March 22, one day before the claim of ARB tokens, about 88.3% of Starknet users were users who transferred their assets from Ethereum to Starknet for the first time. Checking token deposits to the Starknet network shows that the average number of ETH depositors has increased from 687 addresses to 8.78K addresses. For other tokens it is:

• USDC: 6 ➡ 43
• USDT: 3 ➡ 27
• WBTC: 1 ➡ 2

On the other hand, all statistical data related to new users and active users of Starknet has increased after March 16.

• Minimum Daily Depositors:
  • New Users: 79 ➡ 2.7K
  • Active Users: 42 ➡ 625
• Median Daily Depositors:
  • New Users: 525 ➡ 6.28K
  • Active Users: 164 ➡ 1.5K
• Average Daily Depositors:
  • New Users: 502 ➡ 7.24K
  • Active Users: 192 ➡ 1.54K
• Maximum Daily Depositors:
  • New Users: 871 ➡ 12.1K
  • Active Users: 484 ➡ 2.64K

After March 16 and simultaneously with the announcement of the distribution of native tokens of the Arbitrum network, there was excitement among the users of the cryptocurrency world. Users were looking for the next Airdrops and one of their main options was Starknet. This issue caused us to check the impact of Arbitrum airdrop on Starknet activities in this dashboard. For this purpose, we considered the bridge between Ethereum and Starknet and analyzed the volume and number of deposit transactions from Ethereum to Starknet. The data had interesting results, some of the most important of which are:

• After the announcement of the distribution of ARB tokens on March 16, the volume and number of deposits from Ethereum to Starknet increased dramatically. The average number and volume of daily deposits to Starknet increased by more than 1200%.
• The number of users who transferred their assets from Ethereum to Starknet for the first time also increased significantly. After March 16, about 81.7% of all Starknet users were new users of this network.
• After March 16, a large number of users receiving ARB tokens were also active on Starknet, so that on March 26, about 32.3% of all depositors from Etherum to Starknet were Arbitrum airdrop recipients.
• After March 16 and among users who received ARB tokens as airdrops 0xe2d992e4ead1c60a269ca17cf17e855f18e51db0 has bridged the most assets from Ethereum to Starknet.
• On the other hand, the address 0xb75c4b7508b3ae23f33166ce6f5fbc9a45a72a26 has the highest number of asset deposits from Ethereum to Starknet. This address, which has received 6500 ARB tokens, has registered a total of 40 deposit transactions to Starknet.

StarkNet is a cutting-edge technology that operates as a Zero-Knowledge Rollup (ZK-Rollup) platform. It is designed to be decentralized, permissionless, and censorship-resistant, making it an ideal solution for developers who are looking to create applications that require high levels of security and privacy. One of the key features of StarkNet is its ability to support general computation over Ethereum. This means that developers can create complex applications on the platform, allowing users to send transactions in the same way they do with Ethereum today.

To ensure the security and integrity of all transactions on the platform, StarkNet uses a batching system. All transactions are periodically batched together, and their validity is proven using a stark proof. This proof is then verified on the Ethereum Blockchain, ensuring that all transactions are secure and tamper-proof.

StarkNet represents a significant step forward in the world of blockchain technology. Its advanced features and robust security measures make it an ideal platform for developers who are looking to build powerful applications that require high levels of privacy and security.