the alpha
- Now that the excitement around Blur has died down, Web3’s attention has shifted to another airdrop. All eyes are on Arbitrum, Ethereum’s layer-two scaling solution that will launch its token airdrop (ARB) on March 23.
- just above billion chips will be airdropped to over 600,000 wallet addresses. The minimum airdrop entitlement is 625 tokens, and the maximum airdrop entitlement is 10,250 tokens.
- Arbitrum calls the airdrop an “official move” toward a decentralized autonomous organization (DAO). ARB holders will be able to participate in voting on essential decisions affecting the Arbitrum One and Arbitrum Nova networks.
dive deeper
If you haven’t already, you can check your eligibility for the drop at the Arbitrum Foundation’s official website. After connecting your wallet, you will be notified if you are eligible. Then you will see the number of tokens you can claim.
According Arbitrum middle postmultiple qualifying actions were taken into account to determine a user’s eligibility, including whether the user matched funds to Arbitrum One, made transactions during two separate months, completed more than four transactions, or interacted with more than four different smart contracts, completed transactions totaling more than $10,000 in value, funds bridged to Arbitrum Nova and more.
The snapshot of eligible users was taken on February 6, 2023.
Whats Next
After the airdrop is distributed 12.75 percent of the total supply of tokens to eligible users, then it will be the responsibility of the Arbitrum Foundation and DAO to gradually distribute the remaining community tokens.
Arbitrum says that their goal is to decentralize their networks and allow the community to have control of the Arbitrum ecosystem and technology. The airdrop and DAO are just two of their many plans to give all sub-communities a voice.
Additionally, all investor and team tokens are subject to four-year lockups. The first unlock will happen in one year, with monthly unlocks for the remaining three years.
