Ethereum’s Layer2 protocol, Arbitrum, has exceeded $150 billion in transaction volume on the decentralized exchange platform Uniswap. Uniswap Labs announced that Arbitrum is the first Layer2 protocol to break this threshold on a decentralized exchange (DEX).

Blockchain data tracker DeFiLlama shows that the total value locked (TVL) in the Arbitrum network is $26.4 billion, making it the largest Layer2 protocol by TVL.