Arbitrum, Ethereum’s layer 2 scaling solution, has confirmed the launch of its latest token, ARB. The Arbitrum Foundation revealed that the tokens would be distributed to community members via Arbitrum airdrop, and that token claims would initiate on March 23. Let’s take a look at it in more detail.
Arbitrum will airdrop the ARB token on March 23rd
To participate in the $ARB airdrop, there are specific requirements that must be met to determine eligibility. The distribution of the airdrop will also follow certain guidelines and procedures that will be communicated to participants in advance.
The token distribution for the airdrop was based on a points system centered primarily on Arbitrum One. However, only a few requirements were tied to Arbitrum Nova activity.
Users who earned points on Arbitrum Nova had the alternative of expanding their total points to a maximum of four or getting paid an additional point if they had earlier managed to earn four or more points on Arbitrum One.
Only one point was granted for each qualifying action, with a maximum of 15 points given to each participant. Let’s take a look at the documentation the team released, outlining the criteria that determine which users are eligible.
- It is worth noting that the airdrop is scheduled for March 23rd, but users can already verify their eligibility and view their entitlement to ARB tokens.
- The allocation of tokens for each user is based on a point system, where a minimum of three points is required to qualify, and the maximum point limit is set at 15.
- Users can earn points by performing various actions such as bridging funds to Arbitrum One and conducting transactions.
- The maximum number of tokens that can be allocated to a single address is 10,200.
- The ARB token has a total initial supply cap of 10 billion, with 11.62% of the supply (1.162 billion tokens) allocated for the airdrop and 1.13% designated for DAOs that contributed to the development of applications on Arbitrum.
- The number of tokens a user will receive will depend on the number of points earned through qualifying actions, with a maximum limit of 10,200 tokens per wallet.
Arbitrum Airdrop: How to Claim the ARB token?
Today The Arbitrum Foundation is extremely excited to announce the launch of DAO governance for the Arbitrum One and Arbitrum Nova networks, alongside the launch of $ARB. https://t.co/TB3wG0QK0v— Arbitrum (💙,🧡) (@arbitrum) March 16, 2023
Arbitrum worked with Nansen, a cryptocurrency consulting company, to evaluate ARB token eligibility based on user activity.
- To claim tokens, eligible users should go to the Arbitrum website.
- The total circulation of ARB will be 10 billion, with 56% controlled by the community and 44% allocated to Offchain Labs’ investors and core contributors.
- ARB tokens will be used solely for protocol governance, with holders having the ability to vote on code changes.
- A 12-member security council ruled by the Arbitrum DAO will be able to make bug fixes more rapidly.
- The launch of Arbitrum Obit, which enables third-party apps and guidelines to create layer 3 blockchains on Arbitrum’s low-fee infrastructure, aligns with the introduction of ARB.
- Navigate to the Arbitrum bridge page.
- Connect your Ethereum (ETH) wallet.
- Enter the amount you want to move from Layer 1 to Layer 2.
- Approve the transaction now.
- Also, try to conduct transactions on Arbitrum-supported dApps.
Take note: When claiming their tokens, users should exercise caution because scammers frequently use airdrops to deceive people through fake websites and other fraudulent methods.
- Conservative Prediction: Can XRP reach $5 in 2023?
- ShapeShift User Or Not? You Might Have Been Sent Thousands Of Dollars!
- Optimism Airdrop Confirmed – Here’s how to Claim OP Tokens for free
- Big News: Ripple Price is about to TRIPLE? This News Confirms…
- Reddit Goes Arbitrum L2 To Scale Community Points Program
- Airdrop Alert: If You Hold Blue Chip NFTs, You Might Have Been Sent $87,000+
- Ripple Price Prediction – How High will XRP reach in 2050?
- Elevate Your Portfolio: Top 10 Ethereum Layer 2 Projects for 2023 Investments
- Will Aptos crash to 0 $? Aptos Crypto Review
- How To Claim Ethereum Name Service (ENS) Airdrop
- Crypto Millionaire: Buy THESE Cryptos before they BOOM in 2023?
- Crypto For Everyone With AnchorSwap’s Diverse Ecosystem!
- What is Arbitrum? Is it the Best L2 Solution in 2022?
- Arbitrum One Beta Publicly Launches To Bolster Ethereum Scaling
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- How To Use Ethereum Scaling Arbitrum Bridge To Escape High Fees
- SOS Airdrop – How To Claim The NFT Community Token!
- Can Shiba Inu Price Reach 10 Cents?
- Did You Miss the Aptos Airdrop? Here are the top 5 Potential Airdrops
- How To Participate in the Ukraine Airdrop?
- For DeFi Users: How To Claim LOTTO Airdrop Worth Hundreds Of $!
You might also like
More from Airdrop
IOTA Price Prediction 2023: IOTA Price To Touch $1 Soon?
What might happen at IOTA in 2023? This article is all about the IOTA price prediction. Will IOTA touch $1 soon? …
What is Arbitrum? : Everything You Need To Know About Arbitrum Airdrop
This article is all about What is Arbitrum and Arbitrum Airdrop. Let's take a look at it in more detail.
Did You Miss the Aptos Airdrop? Here are the top 5 Potential Airdrops
People almost made $1500-$7000 on that particular day via Aptos airdrop. This article is all about the top 5 …