Key Takeaways Arbitrum is airing a native token. Airdrop eligibility is based on several factors, including multi-month use of Arbitrum One or Arbitrum Nova. The airdrop will be claimable on March 23. share this article
After months of feverish anticipation, Arbitrum is finally ready to launch its native token – ARB. Here’s what you need to know.
Airdrop claimable till March 23
The Arbitrum community rejoices.
Ethereum Layer 2 solution Arbitrum finally announced today that it will be airdropping its long-awaited governance token, ARB, to early users of the network.
“After years of development and approximately 18 months running on mainnet, the Arbitrum Foundation is extremely excited to announce the launch of DAO governance for the Arbitrum One and Arbitrum Nova networks, a huge leap forward in decentralization for the two networks. ” Project.
Eligibility for the airdrop was determined by several factors: bridging to Arbitrum One or Arbitrum Nova, transacting on the network over a period of several months, interacting with multiple smart contracts, having a transaction greater than $10,000 in value, and more than $10,000 to provide more Liquidity for various protocols. Completion of either of these steps guarantees users a portion of the ARB airdrop, with the size of the allocation increasing based on the number of criteria completed.
While users can already check whether they are eligible on the official website, the airdrop will only be claimable on March 23. Arbitrum indicated that 11.62% of the total token supply will be used for the airdrop: Arbitrum DAO Treasury will receive 42.78%. Supply, the team and its advisors 26.94%, investors 17.53%, and The DAO 1.13% in the Arbitrum ecosystem.
Arbitrum is one of several crypto projects – such as Optimism, Polygon, zkSync, and StarkNet – that aim to make transactions on the Ethereum network more affordable by outsourcing computational data and subsequently sending validity proofs back to the mainnet. The scheme saves block space and allows transactions to be bundled together, reducing the amount of data committed to the mainnet while splitting gas fees among multiple users.
Disclosure: At the time of writing, the author of this piece held BTC, ETH and several other crypto assets.
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