Following Blur‘s hyped up $BLUR token airdrop last month, the next most anticipated airdrop launch is finally here. Arbitrum, the leading Ethereum layer-2 network, will finally be airdropping their token $ARB to eligible users and DAOs today, 23 March 2023.
Last Thursday, on 16 March 2023, Arbitrum Foundation released a medium article and announcement on Twitter for the launch of DAO governance for Arbitrum One and Arbitrum Nova networks, along with the airdrop of $ARB tokens which grants holders with the ability to vote on decisions that govern the Arbitrum One and Arbitrum Nova networks.
The decision made by Arbitrum to transition into a DAO came from their goal to decentralize its networks and involve more of their community to be part of the ecosystem by granting an avenue where future decisions can be made collectively as a community.
According to the docs released by Arbitrum Foundation, just over one billion tokens will be airdropped to eligible wallets, with the minimum airdrop entitlement amount to be 625 tokens and the maximum airdrop entitlement amount to be 10,250 tokens.
Initial price predictions and speculations estimate $ARB tokens to be trading somewhere between $1 and $2, as many Telegram and Discord OTC (Over-The-Counter) platforms are already actively trading $ARB tokens at around $1 to $1.50. These trades are conducted by directly transferring ownership of eligible wallets.
What Is Next?
If you have not already checked your eligibility, you can do so by connecting your wallet on Arbitrum Foundation’s official website. The snapshot of eligible wallets was taken earlier back on 6 February 2023. This means that for those who have not been actively trading or using the Arbitrum network can no longer be eligible for this upcoming drop.
Who is eligible?
According to the medium article released by Arbitrum last Thursday, the process to determine eligible wallets and ensuring fairness in distribution was a complex one. The token distribution amount was determined using a point system, with a minimum of 3 points to be eligible for the airdrop. Points can be earned by engaging in various activities on the Arbitrum network, such as bridging of funds, conducting transactions worth over a certain value and more.
They also deployed the use of Arbitrum Sybil Detection, which prevented bots from taking advantage of the airdrop by subtracting points based on certain criteria deemed suspicious.
If your wallet is eligible, you have up till roughly 23 September 2023 to claim your tokens.
Where to trade $ARB?
The Arbitrum airdrop has been something that is anticipated for a really long time, since Arbitrum’s launch back in August 2021. After the recent $BLUR token airdrop, the hype for the $ARB airdrop is over the roof. It is expected that the volatility of the token will be extremely high once the listing goes live, so we encourage everybody to trade safely.
Now that $BLUR has launched and $ARB will be going live soon, which project is next to hop on the airdrop train?