- 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.
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.