In addition, 1.1% will be allocated to how to buy flare token the DAOs that manage the Arbitrum ecosystem. The rest of the tokens will go to a treasury that the Arbitrum DAO will manage. A further 44% of ARB’s circulation will go to the employees and investors of Offchain Labs who first developed Arbitrum.
ARB holders can vote on key decisions that will govern Arbitrum One and Arbitrum Nova with the introduction of the ARB token. This article will try to introduce the details of Arbitrum airdrop eligibility and how to claim it. The Arbitrum airdrop is a strategy that Arbitrum will use to distribute its ARB tokens to its users. This will help Arbitrum officially launch its native token and spearhead its circulation to early adopters.
The official release did not include any information regarding which crypto exchanges will be listing the ARB token. However, it is reasonable to assume that major trading platforms like KuCoin, Coinbase, Kraken, Binance exchange and others will promptly list the token as soon as it’s made available. The same thing has been observed with other Layer-2 scaling solution tokens, such as Optimism’s OP token, which is presently trading on a number of different reputed exchanges. The first thing to do to participate in Arbitrum Airdrop is to visit the Arbitrum airdrop page, where you can connect your wallet with the Connect Wallet option. The connected wallet allows you to collect the airdrop tokens and carry out other activities and transactions on the platform.
Arbitrum Airdrop Criteria
As with many crypto airdrops, Arbitrum aims to reward its early users, since only those who have interacted with the ecosystem to a specified extent up until February 16, 2023, can benefit from it. It is important to note that point scores were capped at 15, and users could earn a maximum of one point per qualifying action performed before the snapshot date. Also, points earned on Arbitrum Nova could either bring a user up to 4 points total, or give them one additional point if they had already scored 4 points or more on Arbitrum One. The Arbitrum(ARB) token is an ERC-20 governance token used to participate in Arbitrum DAO’s on-chain governance. The token is minted on Arbitrum One, a Layer 2 Arbitrum rollup chain, and managed by the DAO, which governs both Arbitrum One and Arbitrum Nova chain protocols. Owning $ARB tokens allows you to vote on Arbitrum One and Arbitrum Nova chain governance proposals, such as chain upgrades and the use of the DAO Treasury funds.
Crypto Scams: A High Level Overview for 2024
Votes are token-weighted, meaning the more tokens you have, the more influence your vote has. On March, 23, 2023, 1.162 billion ARB tokens will be airdropped to individual wallets, representing 11.62% of the total token supply of the ARB token, which sits at 10 billion tokens. To qualify for the airdrop, you need to have interacted with the Ethereum network before Feb 6, 2023 (check the official announcement for more details).
When Is Arbitrum’s Airdrop? How Can You Claim Your Free ARB Tokens?
Most early Arbitrum adopters have been allotted 625 ARB tokens, which correlates to a rough total airdrop value of $400 and $1,250. Arbitrum’s highest allocation per address is 10,250 ARB tokens, and it is anticipated that 4,400 crypto wallets will be eligible for the ARB tokens, receiving between $6,500 and $20,600 in tokens. A points system was used to determine the number of tokens that airdrop recipients can claim. Points criteria was focused primarily on Arbitrum One; however, there was a small subset of criteria applied to activity on Arbitrum Nova. Points earned on Arbitrum Nova could either bring a user up to 4 points total, or give them one additional point if they had already scored 4 points or more on Arbitrum One. You earn maximum one point per qualifying action performed before the snapshot date.
However, all employee and investor tokens will be subject to vesting schedules and lock-up periods. Additionally, Arbitrum supports the Ethereum Virtual Machine (EVM). This means that Ethereum decentralized finance (DeFi) developers can easily link their decentralized applications (DApps) with Arbitrum without making any changes to their apps. Open your Arbitrum wallet, switch to the browser page and click “Arbitrum airdrop”. One way to avoid being scammed is to make sure you only access Arbitrum’s airdrop through the Arbitrum Foundation, the official site for the project.
After that, the token will be listed on Binance, where you can start trading it immediately (indeed, some folks have already started trading ARB tokens!). Arbitrum is a layer 2 blockchain scaling solution built on top of the Ethereum blockchain. Offchain Labs created it in August 2021 with the aim of speeding up transaction times while lowering the on-chain transaction costs and promoting scalability. With the distribution of tokens to the Arbitrum DAO treasury, community-owned protocols, and individuals, more than 55% of ARB tokens will be effectively distributed to the community.
As the airdrop date approaches, it is necessary to exercise caution, particularly if you are eligible, to ensure you are how to buy elonone using the right method and not falling prey to scammers. Furthermore, Arbitrum is attempting to encourage more users to join its ecosystem by stating its intention to initiate more airdrops for users who continue to use the Arbitrum ecosystem. You must use an Ethereum wallet compatible with the Arbitrum token; that is, the wallet must be compatible with ERC-20 tokens. Arbitrum’s recommended wallets are Rainbow, Coinbase Wallet, Metamask, WalletConnect, Trust Wallet, and LedgerLive.
A single address is permitted to receive a maximum of only 10,200 tokens. As Arbitrum airdrop its token, it’s important that you tread with caution while claiming your ARB tokens to avoid falling prey to ARB airdrop scams. It’s not uncommon for scammers to use airdrops to phish users through spoof websites as well as other schemes. This distribution to protocols sought to create a more diverse base of ARB token holders to further decentralize the chain across the team, investors and individual users. Moreover, as protocols directly build on the chain, protocols could propose changes from the perspective of builders to the benefit of all users of Arbitrum. The median airdrop size is 1,250 ARB tokens, with more than 245,000 what is an initial coin offering addresses, out of the total 625,143 eligible addresses, falling into this range.
Here’s a breakdown of everything you need to know about Arbitrum and its airdrop in case you want to participate. And if you are looking to participate, you can easily check your eligibility using Trust Wallet. As the days count down to the airdrop, users have also begun speculating on the opening price of the ARB token. The remaining 4.447 billion tokens will be subjected to a four-year lockup, with the first unlock occurring one year after the upcoming airdrop, on 23 March 2024.
A cryptocurrency airdrop is where crypto projects send tokens or coins to eligible crypto wallet addresses. Arbitrum, a popular Ethereum layer-2 protocol, is set to issue its own native token to eligible community members – scheduled for an airdrop on March 23, 2023. With the launch of the ARB token, Arbitrum will officially transition into a decentralized autonomous organization (DAO). As described earlier, points scored before and after Arbitrum Nitro was deployed on Arbitrum One mainnet were weighted differently. If an address only became fully eligible (minimum of three points) post-nitro, all points scored counted as post-nitro points. Thus, the minimum airdrop entitlement is 625 tokens, half of the minimum entitlement in the table above; the maximum airdrop entitlement is tokens.
- Points criteria was focused primarily on Arbitrum One; however, there was a small subset of criteria applied to activity on Arbitrum Nova.
- Additionally, Arbitrum supports the Ethereum Virtual Machine (EVM).
- Arbitrum, a popular Ethereum layer-2 protocol, is set to issue its own native token to eligible community members – scheduled for an airdrop on March 23, 2023.
- You will automatically be asked to confirm the connection on your Trust Wallet app to check your airdrop availability.
- Click “CONNECT WALLET” – “WalletConnect” – “imToken” and approve the DApp to connect to your wallet.
- On the other hand, it was made amply clear in the formal announcement that the ARB token will not be utilized for the purpose of paying transaction fees on the network.
The main objective of an airdrop is to create awareness of the new token, to boost circulation, and to decentralize the token holders. A separate distribution was allocated for DAOs that are building applications in the Arbitrum ecosystem, as well as the Protocol Guild, a collective of Ethereum contributors. In putting together this criteria we worked with Nansen and analyzed on-chain data to determine how many tokens each DAO community was granted. The goal of using a broad variety of criteria was recognizing that Arbitrum is home to a diversity of projects that have different KPIs and user interactions.
The number of tokens you receive from the ARB airdrop will depend on your eligibility score, based on the number of criteria you meet. If you have fewer than three points, you won’t be eligible to earn any amount from the airdrop. Depending on the number of points users have, they can earn between 621 ARB and 10,250 ARB, the maximum number of tokens that can be allocated to a wallet. Trust Wallet is an easy-to-use, non-custodial crypto wallet that enables users to securely buy, store, sell, and swap over 9M+ crypto assets across 70 blockchains, all under one app. With more than 25M+ users, Trust Wallet is the most secure crypto wallet you can find in today’s market.