- November 27, 2020
- Posted by: ISSLServ
- Category: Cryptocurrency News
If you are eligible, you can follow the steps below to claim your Arbitrum airdrop. We’ve covered Arbitrum extensively in the past, and if you have been following our guides, you would have benefitted from the airdrop. The value can range from US$50 to US$10,000 depending on how extensive your interactions within the Arbitrum ecosystem was. Once you’ve claimed your ARB tokens you can then move them to Newton. Arbitrum’s latest Tweet announces a return of the Arbitrum Odessey. The Arbitrum Odessey was a 7 week journey filled with tasks to complete in order to obtain badges.
These tokens will be subject to lock-up periods and vesting schedules. Notably, the proportion of ARB reserved for insiders is higher compared to similar projects, such as Optimism, which allocated 36% of its OP tokens to investors and core contributors. The team has since then expanded to a global community of developers, academics and operators, with deep experience in new to bitcoin read this first 2021 cryptography, decentralized systems, and game theory. The hype surrounding the Arbitrium airdrop is understandable. It is already a popular Ethereum Layer 2 solution with many users and supporters worldwide.
Yellow Network ($YELLOW) token airdrop guide
The goal of using a broad variety of criteria was recognizing that Arbitrum is home to a diversity of projects that have different KPIs and user interactions. Arbitrum’s layer-2 network allows developers to build and deploy highly scalable smart contracts at low cost, while benefitting from Ethereum’s robust layer-one security. Since its launch last year, the Arbitrum ecosystem has greatly expanded, ranking 6th in all chains total value locked with 129 integrated protocols. Arbitrum is an Ethereum layer-2 scaling solution created to improve the scalability and performance of the Ethereum smart contract. The network has been under the sole authority of Offchain Lab since its introduction in August 2021.
- ARB holders can vote on key decisions that will govern Arbitrum One and Arbitrum Nova with the introduction of the ARB token.
- The connected wallet allows you to collect the airdrop tokens and carry out other activities and transactions on the platform.
- These tokens will be subject to lock-up periods and vesting schedules.
- After that, the token will be listed on Binance, where you can start trading it immediately (indeed, some folks have already started trading ARB tokens!).
The remaining 4.447 billion tokens will be subjected to a four-year lockup, with the first unlock occurring one year after the upcoming airdrop, on 23 March 2024. Subsequent unlocks will take place monthly, with the final unlock on 23 March 2027. Looking closely at the distribution, 113 million ARB tokens will also be distributed to DAO treasuries of protocols building on Arbitrum.
Of the 10 billion ARB units intended to be its maximum supply, Arbitrum will airdrop 11.62% to its early adopters and 1.13% to the developers using Arbitrum for building apps. As with many crypto airdrops, Arbitrum aims to reward its early users, since only those who have interacted with the ecosystem to a specified extent up until February 16, 2023, can benefit from it. Arbitrum teamed up with Nansen, cryptocurrency mining power generation a crypto analytics firm, to establish ARB token eligibility based on the level of user activity. According to the official announcement from Arbitrum, Arbitrum is using a points system to determine the number of ARB tokens that airdrop recipients can claim.
After that, the token will be listed on Binance, where you can start trading it immediately (indeed, some folks have already started trading ARB tokens!). It is important to note that point scores were capped web spam at 15, and users could earn a maximum of one point per qualifying action performed before the snapshot date. Also, points earned on Arbitrum Nova could either bring a user up to 4 points total, or give them one additional point if they had already scored 4 points or more on Arbitrum One. With the distribution of tokens to the Arbitrum DAO treasury, community-owned protocols, and individuals, more than 55% of ARB tokens will be effectively distributed to the community. If you’re eligible, you should be able to follow the onscreen instructions and click claim, and the tokens will be deposited into your wallet. The remaining 44% will be given to Offchain Labs’ investors and employees, who developed Arbitrum.
User airdrop eligibility details
$ARB will solely function as a governance tool for the Arbitrum protocol, unlike ETH which is used to pay fees on both Ethereum and Arbitrum. The governance process of Arbitrum DAO will be autonomous, allowing votes to directly modify the core code of Arbitrum. Arbitrum is developed by Offchain Labs, a New York-based startup committed to building innovative Ethereum scaling solutions. The company originated from the computer science research department of Princeton University, co-founded in 2018 by Harry Kalodner, Steven Goldfeder, and Ed Felten.
Who Is Eligible for the Airdrop?
On March, 23, 2023, 1.162 billion ARB tokens will be airdropped to individual wallets, representing 11.62% of the total token supply of the ARB token, which sits at 10 billion tokens. Unfortunately, when a crypto airdrop receives this much hype, it doesn’t take long for the crypto scammers to begin circling. The Arbitrum(ARB) token is an ERC-20 governance token used to participate in Arbitrum DAO’s on-chain governance. The token is minted on Arbitrum One, a Layer 2 Arbitrum rollup chain, and managed by the DAO, which governs both Arbitrum One and Arbitrum Nova chain protocols. Owning $ARB tokens allows you to vote on Arbitrum One and Arbitrum Nova chain governance proposals, such as chain upgrades and the use of the DAO Treasury funds.
How to claim Arbitrum airdrop
Votes are token-weighted, meaning the more tokens you have, the more influence your vote has. This distribution to protocols sought to create a more diverse base of ARB token holders to further decentralize the chain across the team, investors and individual users. Moreover, as protocols directly build on the chain, protocols could propose changes from the perspective of builders to the benefit of all users of Arbitrum.
This will make the Arbitrum ecosystem more decentralized. This article will try to introduce the details of Arbitrum airdrop eligibility and how to claim it. The median airdrop size is 1,250 ARB tokens, with more than 245,000 addresses, out of the total 625,143 eligible addresses, falling into this range. On the high end of the spectrum, just over 4,400 addresses will be eligible to claim the maximum amount at 10,250 ARB tokens.
