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Arbitrum To Airdrop ARB Tokens In March, Complete Details Inside

WikiBit 2023-03-17 08:12

Abstract:Arbitrum has announced its highly anticipated airdrop, which is scheduled to launch next week, and also revealed its intentions to establish a self-executing DAO.

  Arbitrum, a well-known Layer 2 solution on the Ethereum network, has recently revealed plans to airdrop its governance token, ARB, on March 23. This move follows Arbitrum's previous announcement of its intention to fully decentralize. The airdrop will amount to 12.75% of the token's total supply and will be distributed to users who have been active on the network in the past year.



  Arbitrum Launches Airdrop Campaign

  As per the official blog post, the upcoming ARB token will signify the official transition of Arbitrum into a Decentralized Autonomous Organization (DAO). This will allow ARB holders to participate in the decision-making process for Arbitrum One and Arbitrum Nova networks, which facilitate fast and cost-efficient transactions on the Ethereum blockchain. These critical decisions will be subject to voting by the token holders.

  Offchain Labs, the firm behind the development of Arbitrum, claims that the ARB token will enable the ecosystem to be more decentralized than other scaling chains. This assertion is in spite of the foundation's plans to allocate a significant percentage of tokens to its investors and core contributors, amounting to 44% of the total supply. Nevertheless, it was emphasized that the ARB token will not be utilized for paying transaction fees on the network.



  ARB Airdrop Details


  In February, Nansen collaborated with Arbitrum to create a “snapshot” of user activity and determine who qualifies to receive ARB tokens. The total supply of ARB tokens is capped at 10 billion, with the Arbitrum community controlling 56% of the tokens. Eligible users of Arbitrum will receive 11.5% of the total supply during the airdrop, while DAOs using the Arbitrum ecosystem will receive 1.1% of the tokens.

  The remaining community tokens will be transferred to a treasury managed by the new Arbitrum DAO, which will enable ARB holders to vote on how the funds should be allocated. The remaining 44% of ARB's total circulation will be distributed among Offchain Labs investors and staff members.

  To claim tokens, Arbitrum users can visit the official website at gov.arbitrum.foundation. However, users are warned to exercise caution during the process due to the prevalence of airdrop scams in the market.

  Here is Arbitrum profile at WikiBIT:

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