- Ethereum layer-2 scaling solution Arbitrum is positioning its ARB token airdrop for March 23.
- Users will receive 11.5% of Arbitrum’s total token supply with 1.1% earmarked for DAOs.
- Arbitrum’s ARB token is expected to be a competitor to Optimism’s OP token released in May 2022.
Arbitrum, one of the largest Ethereum layer-2 scaling solutions, has announced its airdrop scheduled for March 23. The Arbitrum Foundation said that ARB will be airdropped to community members and DAOs. ARB holders will vote on key governance decisions on the Arbitrum network.
Also read: Bitcoin reserves on exchanges continue climbing amidst rising inflows, is this a sell signal?
Ethereum’s layer-2 scaling solution is set to launch Arbitrum ARB token
Arbitrum is one of the largest players in the layer-2 scaling landscape. The scaling solution is finally getting a token, ARB. The project announced that community members will tentatively receive the airdrop on March 23.
ARB will mark Arbitrum’s official transition into a decentralized autonomous organization (DAO). ARB token holders will vote on key decisions governing Arbitrum One and Arbitrum Nova. These two networks allow users to transact on the Ethereum blockchain with greater speeds and lower fees.
ARB airdrop will be accompanied by layer-3 development tool
The launch of the development tool alongside the ARB token falls in line with a proposal from Vitalik Buterin, Ethereum’s co-founder, in which he identified necessary steps to allow optimistic rollups to “take off training wheels” and become fully decentralized.
Arbitrum will be one of the first Ethereum rollups to move from stage zero to one, according to Steven Goldfeder, CEO at Offchain Labs.
ARB token airdrop details
Arbitrum’s ARB token will put governance in the community’s hands. Working closely with Nansen over the past few months, the team designed airdrop eligibility criteria. The team has shared detailed eligibility criteria for the airdrop on gov.arbitrum.foundation.
User airdrop will make up 11.5% of the total token supply, with an additional 1.1% earmarked for DAOs. The remaining governance tokens will be distributed over time through grant programs and other initiatives led by the DAO.
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