• The Arbitrum Foundation recently announced the launch of its new ARB token.
• The airdrop of the token will take place on March 23rd, marking the transition into a decentralized autonomous organization (DAO).
• Eligibility for claiming the ARB token is determined by factors such as number of transactions conducted and applications used.
ARB Token Airdrop Date Announced
The Arbitrum Foundation recently announced that its new ARB token will be airdropped to the community on March 23rd. This marks the beginning of Arbitrum’s transition into a decentralized autonomous organization (DAO).
What Is Arbitrum?
Arbitrum is one of the biggest players in the Ethereum layer-2 scaling solution landscape. It allows users to conduct transactions on the Ethereum blockchain with far greater speeds and lower fees through networks like Arbitrum One and Arbitrum Nova.
Eligibility for Claiming ARB
To determine which users are eligible to receive ARB tokens, Arbitrum has worked closely with crypto analytics firm Nansen to create snapshots of user activity. Factors taken into consideration include number of transactions conducted, number of applications used, and how long users used Arbitrum One and Nitro. Users can check their eligibility during the airdrop by visiting gov.arbitrum.foundation, but they should also be aware of potential scammers sending them to fake websites when claiming their tokens.
Supply Of ARB Tokens
The ARB token will have a supply of 10 billion, out of which 44% will be issued to investors and core contributors. This move will make Arbitrum far more decentralized than other competing chains as Offchain Labs – creator of Arbitrum – will no longer have any control over its future once it transitions into DAO form.
The launch of ARB tokens marks an important milestone for both Offchain Labs and for cryptocurrency in general as it paves way for more decentralization within crypto networks while giving eligible users an opportunity to claim these tokens through an upcoming airdrop event happening on March 23rd 2021.