Arbitrum launches DAO, offering ARB airdrop to early adopters

• Arbitrum airdrop is just some moments away which is expected to shake up the entire DeFi space 
• With the airdrop gaining more significance, many similar opportunities are expected to kick off for the rest of 2023

Arbitrum airdrop is just a few moments away! The popular layer-2 solution finally confirmed the launch of its own token called ‘ARB’ and is scheduled to airdrop it to the early users based on certain criteria. As per the official website, a total of 1.162 billion ARB has been allocated for the airdrop, while the claim is set to go live on March 23, 2023. With the introduction of the ARB token, the Arbitrum platform will be transformed into a DAO (Decentralized Autonomous Organization). 

With the transition, the ARB holders can vote on the critical decisions governing Arbitrum One and Arbotrum Nova, which are the networks that allow users to transact with Ethereum with high speed and low fees.  

“Arbitrum DAO will have the power to control key decisions at the core protocol level, from how the chain’s technology is upgraded to how the revenue from the chain can be used to support the ecosystem,” according to the Arbitrum Foundation.

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Who Are Eligible?

Arbitrum, in collaboration with Nansen, the popular crypto-analytics firm, will acquire a snapshot of the user’s activity. The eligibility criteria include the number of transactions a user has carried out on Arbitrum One and Arbitrum Nitro, which can be considered to determine eligibility. The users are required to go to the official website of the airdrop and check their eligibility by connecting their decentralized wallet. 

After the airdrop, the Arbitrum community will have control of over 56% of the tokens, while the airdrop will grant 11.5% of the total supply of 10 billion tokens. The remaining tokens will be sent to the treasury, which will be handled by the DAO. The other 44% of the circulating supply is set to go to the investors and employees of Off-Chain Labs, which is the development firm that built Arbitrum. 

Why did Arbitrum Choose to be a DAO?

Nearly $3.69 billion in funds from Arbitrum have been locked over the Ethereum rollup network, Arbitrum One. This makes the platform, the leader, holding 55% of the Ethereum Layer-2 market share. Moreover, with the launch of OP, the native token of optimism, which is a tough competitor to Arbiturm, the need for its native token accumulated over the years arose.

Taking about the delay in the launch of ARB, the CEO of Off-Chain Labs, Steven Goldfeder said,

“The tech came first. And based on our technical roadmap, now was the right time,”

According to him, Arbitrum has to reach some technical milestones before making the key decision to roll out a native token for the platform. 

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Many More to Come!

The Arbitrum airdrop is nearing, and the average user receiving ARB will receive around 625 tokens worth $625 to $1250 as per the pre-trading prices. With the hype being created all around, the prospects of earning free money have been compelling investors to hunt for the next biggest opportunity. 

Below are the top 5 airdrop opportunities one can consider,

• zkSync Era is a layer-2 rollup on Ethereum based on zero-knowledge (ZK) proof technology. 
• Starknet is another zk-based Ethereum rollup supporting decentralized applications have confirmed a STARK token, decentralizing the Ethereum layer-2 network being its main utility
• Scroll is branded as ‘true zkEVM, much similar to zkSync Era which is fully EVM compatible.
• Sui Network is a Move-based layer-1, similar to Aptos 
• Sei Network is a Cosmos-based layer-1 chain focusing mainly on DeFi and high-frequency trading apps.