Expected Announcement: When Will Arbitrum Airdrop Be Held?

Arbitrumannounced the airdrop, which has been expected for a while and is scheduled to take place next week. The network also shared plans for a self-executing DAO.

Prominent Ethereum Tier 2 project Arbitrum recently announced that they will be issuing a governance token with the abbreviation ARB on March 23. This goes in line with the network’s plans to migrate to a fully decentralized model. This airdrop will account for 12.75% of the entire supply of the token and will be awarded to users who have been active on the network in the past year.

Arbitrum Launches Airdrop Campaign

According to the official blog post, ARB marks the official transition to Decentralized Autonomous Organization (DAO) for Arbitrum. This means that ARB holders will have the ability to vote on critical decisions that govern One and Nova, networks that allow users to transact at higher speeds with lower fees on the Ethereum blockchain.

The company that developed Arbitrum Offchain LabsHe is of the opinion that ARB token will make the ecosystem more decentralized than other scaling chains. This is despite the foundation’s plans to issue a substantial amount of tokens to its investors and core participants (44%) of the total supply. With this, ARB tokenIt is clearly stated that the .net will not be used to pay transaction fees on the network.

ARB Airdrop Details

In February, Arbitrum teamed up with Nansen, a company specializing in cryptocurrency analytics, to take a “snapshot” of user activity to determine who should qualify for ARB tokens. The total number of ARBs in circulation is capped at 10 billion. The community will have control over 56% of these tokens; As part of the airdrop, eligible users in the network will receive 11.5% of the total supply, and DAOs using the ecosystem will receive 1.1% of the tokens.

The remaining community tokens will be transferred to a treasury managed by the new Arbitrum DAO. This treasury will allow ARB holders to vote on how funds should be distributed. The remaining 44% of ARB’s total circulation will be distributed among Offchain Labs’ investors and staff.

Users can check eligibility at gov.arbitrum.foundation.

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