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03/15/2023

Arbitrum to Airdrop ARB Token on March 23

After much speculation, Ethereum's layer-2 solution Arbitrum has officially announced the date for its ARB token airdrop. Arbitrum to Airdrop ARB Token on March 23 In an announcement posted on the evening of March 16, leading Ethereum layer-2 solution Arbitrum revealed that it will airdrop its ARB token on March 23. Details of the ARB Airdrop ARB is an ERC-20 token issued on Ethereum, with an initial supply of 10 billion ARB and an estimated annual inflation rate of 2%. The airdrop will dis

Arbitrum to Airdrop ARB Token on March 23

After much speculation, Ethereum's layer-2 solution Arbitrum has officially announced the date for its ARB token airdrop.

Arbitrum phát hiện lỗ hổng trong cầu nối với Ethereum Layer-1

Arbitrum to Airdrop ARB Token on March 23

In an announcement posted on the evening of March 16, leading Ethereum layer-2 solution Arbitrum revealed that it will airdrop its ARB token on March 23.

Details of the ARB Airdrop

ARB is an ERC-20 token issued on Ethereum, with an initial supply of 10 billion ARB and an estimated annual inflation rate of 2%.

The airdrop will distribute 1.162 billion ARB, representing 11.62% of the initial supply. The project has allocated 42.78% to the DAO treasury, 26.94% to the development team and advisors, 17.53% to early investors, and 1.13% to the DAOs of projects built on Arbitrum.

At the time of the airdrop, the circulating supply of ARB will be 12.75%, amounting to 1.275 billion ARB available to the general public and DAOs of projects on Arbitrum.

ARB Token Allocation

The snapshot date for the airdrop was February 6, 2023.

Arbitrum has developed a points-based scoring system for early users. Eligibility for the airdrop is based on usage of Arbitrum One and Arbitrum Nova over the past nine months, including interactions with various smart contracts, trading volume thresholds, and liquidity provided to the layer-2 network.

ARB Airdrop Eligibility Criteria

The total points accumulated will determine how many ARB tokens a user can claim on March 23.

ARB Allocation Based on Points

Eligible Arbitrum users can check their airdrop amount on the official website.

According to Blockworks, a total of 625,143 addresses qualify for the ARB airdrop, with an average of 1,859 ARB per address. However, roughly 54% of addresses will receive fewer than 1,000 ARB.

Utility of ARB Token

Notably, ARB will not function as a gas fee token on Arbitrum One.

Instead, ARB is designed to decentralize Arbitrum One and transform it into a fully self-governing DAO. ARB holders will participate in governance and vote on major protocol upgrades proposed by the community. ARB will also serve as the primary governance token for Arbitrum Nova and future layer-2 products from the project.

In this respect, ARB will play a similarly limited role to OP from Optimism, another layer-2 solution built on Optimistic Rollups technology. Unlike Optimism, which distributed OP across multiple airdrop phases, Arbitrum is going with a single airdrop event for ARB.

Further Reading:

  • Arbitrum in 2022: Still Young with Plenty of Room for Growth
  • Tokenomics Research #8: Optimism (OP) – Positive in the Short Term, More Needed Long Term
  • zkSync Airdrop Guide: Potential Similarities to Arbitrum Airdrop?

A standout feature of Arbitrum's governance model is its self-executing DAO structure. Once a proposal passes, changes are automatically applied on-chain without requiring approval from any intermediary. Arbitrum aims to push decentralization further with this approach and position itself as the first layer-2 to implement a self-executing DAO model.

DAO governance will be supported by a "Security Council" of 12 members who hold emergency intervention powers in the event of malicious proposals or governance takeover attempts — similar to what happened with Beanstalk Farms. Each Security Council member serves a six-month term, with the initial cohort including prominent figures from the Ethereum ecosystem such as Celer Network co-founder Mo Dong, LayerZero CEO Bryan Pellegrino, Ethereum researcher Justin Drake, and three members from Offchain Labs.

Arbitrum Orbit – Layer-3 Development Platform

Offchain Labs, the team behind Arbitrum, has also announced a new product called Arbitrum Orbit. This platform lets developers build Layer-3 solutions on top of Arbitrum. The move is widely seen as Arbitrum's answer to Optimism's OP Stack, which enables other projects to spin up layer-2 chains using Optimism's technology — most recently demonstrated by Coinbase's Base.

At the time of writing, Arbitrum is the largest Ethereum layer-2 by total value locked (TVL), with $1.63 billion TVL and a 24-hour trading volume of $473.2 million — nearly double that of Optimism. Measured as a standalone chain, Arbitrum would rank as the fourth-largest blockchain by TVL, ahead of major names like Polygon, Avalanche, and Fantom.

Top Crypto Blockchains by TVL: Screenshot from DeFiLlama at 9:10 PM, March 16, 2023.