Arbitrum Airdrop Coming Tomorrow: Here’s What You Need To Know
The alpha
- Now that the excitement surrounding Blur has died down, Web3’s attention has shifted to another airdrop. All eyes are on Arbitrum, the Ethereum tier-two scaling solution that is launching its token airdrop (ARB) on March 23.
- Just over one billion tokens will be sent to more than 600,000 wallet addresses. Minimum airdrop entitlement is 625 tokens and maximum airdrop entitlement is 10,250 tokens.
- Arbitrum calls the airdrop an “official move” into a decentralized autonomous organization (DAO). ARB holders will be able to vote on important decisions affecting the Arbitrum One and Arbitrum Nova networks.
Dive deeper
If you haven’t already done so, you can check your eligibility for the drop on the Arbitrum Foundation’s official website. After you connect your wallet, you will be notified if you are eligible. Next, you will see the number of tokens you can claim.
According to Arbitrum’s Medium post, several qualifying actions were taken into account to determine the eligibility of a user, including whether the user linked funds to Arbitrum One, executed transactions in two different months, completed more than four transactions, or interacted with more than four various smart contracts, completed transactions exceeding a total of $10,000 in value, transferring funds to Arbitrum Nova and more.
The snapshot of eligible users was taken on February 6, 2023.
What will be next
After the airdrop distributes 12.75 percent of the total token supply to eligible users, it will be the responsibility of the Arbitrum Foundation and the DAO to distribute the remaining community tokens gradually.
Arbitrum says its goal is to decentralize its networks and allow the community to be in control of Arbitrum’s ecosystem and technology. Airdrop and DAO are just two of the many plans to give all subcommunities a voice.
In addition, all investor and team tokens are subject to four-year lockups. The first unlock will take place in one year, with monthly unlocks for the remaining three years.
