Arbitrum Airdrop Finally Announced – Crypto Briefing
Important takeaways
- Arbitrum is airdropping a native token.
- Airdrop eligibility is based on a number of factors, including multiple months of use of Arbitrum One or Arbitrum Nova.
- Airdrop will be claimable on March 23.
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After months of feverish anticipation, Arbitrum is finally ready to release a native token – ARB. Here’s what you need to know.
Airdrop can be claimed by March 23rd
The Arbitrum community rejoices.
Ethereum Layer 2 solution Arbitrum finally announced today that it would send the long-awaited governance token, ARB, to early adopters of the network.
“After years of development and nearly 18 months on the mainnet, the Arbitrum Foundation is extremely excited to announce the launch of DAO governance for the Arbitrum One and Arbitrum Nova networks, a massive leap forward in the decentralization of the two networks,” the project said.
Eligibility for the airdrop was determined by a number of factors: bridging to Arbitrum One or Arbitrum Nova, transacting on the network over several months, interacting with multiple smart contracts, conducting transactions over $10,000 in value, and providing over $10,000 in liquidity to various protocols. Completing one of these steps guarantees users a share of the ARB airdrop, with the size of the award increasing based on the number of criteria met.
Although users can already check official website if they qualified, the airdrop will not be able to be claimed until March 23. Arbitrum indicated that 11.62% of the total token supply would be used for the airdrop: the Arbitrum DAO treasury will receive 42.78% of the supply, the team and its advisors 26.94%, investors 17.53%, and the DAO is in the Arbitrum ecosystem 1.13%.
Arbitrum is one of many crypto projects– such as Optimism, Polygon, zkSync and StarkNet – which aim to make transactions on the Ethereum network more affordable by outsourcing computational data and then sending proof of validity back to the mainnet. The scheme saves block space and allows transactions to be bundled, further reducing the amount of data committed to the main grid, while also sharing gas fees among many users.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH and several other crypto assets.
