Arbitrum, the second layer solution for Ethereum (ETH), has officially announced the arrival of its ARB token airdrop. The latter will be deployed on March 23, but you can check now if you are eligible. At the same time, Arbitrum announces its total decentralization through a system of decentralized autonomous organization (DAO).
Arbitrum airdrop arrives March 23
That’s it, the Arbitrum teams have finally confirmed the arrival of the long-awaited airdrop. The latter will be distributed from March 23, and you can already check your eligibility on the dedicated page.
The eligibility criteria are multiple, and the more different a user fulfills, the greater the number of tokens that will be distributed to him. The Arbitrum teams thus chose to base themselves, among other things, on the use of the bridge (Arbitrum One and Nova), the degree of interaction with different smart contracts, the value of transactions ($10,000 minimum) or even activity on Arbitrum Nova.
If this event was so awaited, it is in particular because of the total locked value of layer 2, which exceeds 3.6 billion dollars at the time of writing these lines, which therefore makes Artbitrum the biggest layer 2 on this metric.
Top 5 layers 2 of the Ethereum blockchain
So, the distribution of the ARB token signals the decentralization of the network through its decentralized autonomous organization (DAO), of which it will be the keystone. In other words, ARB token holders will be able to participate in governance votes to determine the future of the project.
The ARB token will be native to the Arbitrum One network, but it will also serve to govern the Arbitrum Nova network. The press release specifies that the ARB token will be exclusively dedicated to governanceand that it will not be used to pay transaction fees, in particular.
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Steven Goldferer, CEO of Offchain Labs, the firm behind Arbitrum, supports this wish for decentralization which, according to him, will allow Arbitrum to stand out from other second-layer solutions:
“For me, the most exciting part is the decentralization – the fact that the Arbitrum ecosystem is more decentralized than the alternative chains. Offchain Labs will no longer have any control over the future of this chain. We will be a service provider and if the DAO asks us to create software, we will. »
He adds that while the token’s arrival has been “so long”, it’s because the teams preferred to wait for layer 2 to reach technological maturity, which is now the case. Although Optimism, its main competitor, has already deployed its airdrop, Arbitrum still holds more than 55% of the layer 2 market on Ethereum.
Regarding tokenomics, the total supply of tokens is set at 10 billion units. The March 23 airdrop represents 11.6% of this supply, while Offchain Labs takes 27% of the shares and allocates 17.5% to investors. 42.8% will be reserved for the Arbitrum Foundation, which will be under the control of the DAO. Finally, the remaining shares will be allocated to the DAO of the ecosystem in question.
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Sources: CoinDesk, L2BEAT
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Maximilien Prue
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