Arbitrum, Ethereum’s layer 2 scaling solution, has recently announced the launch of its new token, ARB. The Arbitrum Foundation stated that the tokens would be airdropped to members of the community, with token claims beginning on March 23.
To determine eligibility for the ARB token, Arbitrum collaborated with Nansen, a crypto analytics company, based on user activity. Eligible users will be able to claim tokens by visiting the official Arbitrum website. The total circulation of ARB tokens will be 10 billion, with 56% of tokens controlled by the community and 44% allocated to investors and core contributors of Offchain Labs, the creator of Arbitrum.
The ARB token’s introduction coincides with the launch of Arbitrum Obit, which allows third-party apps and protocols to build layer 3 blockchains on Arbitrum’s low-fee infrastructure. The move toward decentralization and the introduction of ARB tokens are expected to provide increased benefits to the community.
Arbitrum to Launch ARB Token and Airdrop to Community Members
