The Arbitrum Foundation has announced that it will be airdropping ARB tokens for the community on March 23, 2023, and moving to the DAO, giving ARB token holders a vote to oversee Arbitrum One and its affiliate Arbitrum Nova. A network that allows users to transact on the Ethereum Blockchain with higher speeds and lower fees.
“The Arbitrum DAO has the authority to make important decisions regarding protocols.”
What is an ARB coin?
Arbitrum partnered with crypto analytics firm Nansen to take a snapshot of user transactions in February to see who should receive ARB tokens.
“How many transactions you have done, how much you have used the application and how long have you been using it?” This will be mainly based on Arbitrum One and Arbitrum Nitro.
Arbitrum users can check for updated ARB airdrop tokens. here There is a total of 10 billion ARB tokens, 56% of the Arbitrum community will have an airdrop of 11.5% of all tokens distributed to Arbitrum users.
Another 1.1% will be given to DAOs that live on the Arbitrum ecosystem. The rest of the community’s tokens are held in an Arbitrum DAO-governed repository. ARB holders have the power to vote on their allocations.
The other 44% of ARB tokens will go to investors and employees of Offchain Labs. Arbitrum will share more with employees.
The ARB tokens will only be used for project governance. Arbitrum currently has over $3.69 billion of capital locked in the Ethereum roll-up network.
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