Ethereum’s L2 Rollup Arbitrum Set to Launch Token Airdrop Imminently
The Arbitrum project is set to distribute 56% of its ARB token supply to the community as part of its upcoming airdrop. This initiative coincides with the introduction of Arbitrum Orbit, a groundbreaking platform designed to facilitate the deployment of layer 3 blockchains, further enhancing the network’s scalability and efficiency.
ARB Token Airdrop Allocation
The widely-used Ethereum Layer 2 rollup solution, Arbitrum, is set to release its ARB governance token on March 23. This announcement was made on Thursday and coincides with the introduction of both the Arbitrum DAO and Arbitrum Orbit.
According to the team’s official blog post, the Arbitrum Foundation is thrilled to unveil DAO governance for the Arbitrum One and Arbitrum Nova networks, which represents a significant advancement in the networks’ decentralization. The introduction of the Arbitrum token will empower the DAO with governance authority.
It has been revealed that 12.75% of the total ARB token supply will be distributed to qualified community members through an airdrop on the specified date. Notably, the team has allocated 56% of Arbitrum tokens to the community, with the remaining 44% designated for investors and contributors.
Advancements Toward Decentralization and Scalability
In a strategic partnership, Arbitrum and Offchain Labs joined forces with the cryptocurrency analytics firm Nansen to carry out the community-focused airdrop distribution. Nansen’s on-chain data indicates that approximately 625,143 addresses are eligible to participate in the upcoming Arbitrum token airdrop.
After an 18-month incubation period, the Ethereum L2 network is set to unveil new developments aimed at achieving full decentralization. The first of these is the introduction of a “self-executing” DAO that empowers the community to vote on and manage every aspect of its two core networks, Arbitrum One and Arbitrum Nova.
Additionally, the recently launched scaling solution, Arbitrum Orbit, will provide developers with the tools to create layer 3 (L3) blockchains within the ecosystem. In August of last year, Arbitrum One, the native L2 mainnet, received a Nitro upgrade to enhance gas fee efficiency and increase throughput. Notably, these improvements positioned Arbitrum as the first EVM rollup technology to reach the second stage of decentralization.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.
