ARB
by BSCN
March 23, 2023
Only projects with a DAO and a community treasury will receive airdrops, with the exception of The Protocol Guild. Factors considered for eligibility include deployment date, multi-chain or native status, transaction volume, total asset value locked, and native liquidity moved.
The $ARB governance token is the first native digital asset of Arbitrum. As part of the platform's airdrop, 11.62 percent of the circulating supply of the token is distributed to early supporters, and 1.13 percent is distributed to developers who build on Arbitrum. This means that 12.75 percent of the token's total supply will enter circulation soon.
According to Arbitrum foundation, the airdrop was not retroactive. It was instead a way to empower sub-communities on the layer2 network to decide how governance is handled locally.
As Arbitrum noted, airdrops would only be available to projects with a Decentralized Autonomous Organization (DAO) and community treasury. Nevertheless, it made an exception for The Protocol Guild, a collection of Ethereum core developers.
When selecting projects for airdrops, Arbitrum evaluated factors including their deployment date and whether they were multi-chain or native to their ecosystem. Additionally, the transaction volume and the total value of assets locked onto the project, as well as native liquidity, are also considered.
Arbitrum airdropped a total of 112.834 million $ARB to DAOs. Following are the top seven DAOs that received the most $ARB during the airdrop, according to a list compiled by Nansen:
In addition to these protocols, Balancer, Protocol Guild, CAP, Vest Finance were also among the projects that received most airdrops. The launch of the Arbitrum token is among the most anticipated events in the crypto space this year, especially since it is gaining momentum in the DeFi sector without a governance token since last year.
Arbitrum ($ARB) is trading at $1.32 with a $1.674 billion market cap. According to CoinMarketCap the price of the token fell by more than 88% today, within minutes after it was listed across various exchanges.
Arbitrum is an Ethereum layer-2 network that enables developers to build and deploy highly scalable smart contracts at low cost. You can use Arbitrum chains to do all the things you do on Ethereum — use Web3 apps, deploy smart contracts, etc., but your transactions will be cheaper and faster. The flagship product for the team, Arbitrum Rollup, is an Optimistic rollup protocol that inherits Ethereum-level security.
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