According to BlockBeats, Arbitrum officials said that the Bitcoin staking Layer 2 network Social Network will be settled on Ethereum, 8% of the sorter's profits will be given to ArbitrumDAO, and 2% will be given to the Arbitrum Developer Association. Social Network is a Bitcoin staking Layer 2 network supported by Arbitrum. Users can stake Bitcoin to Social Network, and the transaction fee of the network will be reduced to about 1 sats/byte; the finality will be increased to less than 1 minute; and the energy consumption of each block will be reduced by 99%. The test network has been launched, and Ordinals Freemint for early contributors will be launched soon.