Arbitrum Cuts Gas Fees to $0.01 with Phase 2 ArbOS Atlas Rollout

Arbitrum, a leading Ethereum Layer 2 scaling solution, has achieved a significant milestone by further reducing its gas fees, marking an all-time high in efficiency and affordability for users. The deployment of Phase 2 of ArbOS Atlas has introduced lower fee floors and average fees, alongside savings from 'blobs,' contributing to nearly zero gas fees for transactions, approximately $0.01 (≈$0.07). This update has brought the cost of executing a transaction on the Arbitrum One network down to about 0.000004 ETH ($0.01), making on-chain activities more accessible to retail investors. Notably, the gas fee reduction has reached up to 80% in the latest update, with specific transaction costs such as claiming rewards, simple swaps, and long/short trades on GMX now costing between $0.02 and $0.20. The update has been well-received within the community, highlighting Arbitrum's commitment to enhancing capital efficiency and making decentralized finance (DeFi) more approachable, with transaction costs now as low as 0.X cents for activities that cost 20-40c just the day before.