In a strategic move, the Arbitrum Foundation has made an important move regarding those who were eligible to receive the altcoin airdrop in March but did not withdraw these assets to their wallets. Accordingly, it successfully recovered ARB tokens worth approximately $56 million from users. The withdrawn tokens were allocated to the Arbitrum treasury. On the other hand, it pointed out an important development in the financial environment of the project.
Altcoin airdrop tokens find their way back into the treasury
Altcoin Arbitrum treasury has withdrawn $56 million originally allocated for airdrop distribution. This significant sum, equivalent to 69,448,000 ARB tokens worth approximately $56.5 million, attracts attention. These belonged to users who were eligible for the airdrop but had not taken the necessary steps to claim the tokens and transfer them to their personal wallets.
There was a deadline to claim Altcoin Airdrop tokens. Accordingly, it was determined as September 24, exactly six months after the first distribution started. In a notable decision, the decentralized autonomous organization (DAO) associated with Arbitrum voted to direct unclaimed tokens to the Arbitrum treasury rather than keeping them locked up indefinitely.
Impact of unclaimed tokens
Unclaimed tokens from the airdrop account for only 0.69% of the total ARB token supply. Accordingly, it represents a small segment. There is a striking result in the data from Dune Analytics. This shows that an impressive 93% of eligible users claimed their tokens immediately. He also reveals that he transferred it to his personal wallets. In total, the altcoin ARB airdrop facilitated the distribution of more than 42 million tokens to 23,000 unique users.
Let’s look at the DAO treasury as cryptokoin.com right now. It has a significant reserve of 3.59 billion ARB tokens with an estimated value of $2.92 billion. This significant asset positions Arbitrum to advance its goals and support the growth of its ecosystem.
Optimism’s latest airdrop
Interestingly, altcoin Arbitrum’s rival, Optimism (OP), a tier 2 scaling solution, also recently performed a similar maneuver. Millions of OP tokens are in the addresses of users who were eligible for the airdrop but did not claim their tokens. Accordingly, there has been a trend among blockchain projects to recover orphaned assets and use them effectively.
It is noteworthy that the Altcoin Arbitrum Foundation took back orphaned ARB tokens worth $ 56 million. Accordingly, it emphasizes the project’s commitment to efficient treasury management. Arbitrum aims to increase its financial strength by directing these assets back to the treasury. On the other hand, it aims to advance its mission in the rapidly developing blockchain field. This move also underlines the importance of adhering to token demand deadlines in the crypto world.
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