ARB Token Airdrop Date Set: Get Ready for Decentralized Governance

• The Arbitrum Foundation announced that it would be airdropping ARB, its new token, to the community on the 23rd of March.
• This marks the transition of Arbitrum into a decentralized autonomous organization (DAO) and ARB token holders will be able to vote on key governance decisions.
• Offchain Labs believe that the ARB token would make Arbitrum far more decentralized than other competing chains.

ARB Token Airdrop Date Set

The Arbitrum Foundation, on Thursday, announced that it would be airdropping ARB, its new token, to the community on the 23rd of March. This officially marks the beginning of Arbitrum’s transition into a decentralized autonomous organization (DAO). This means that ARB token holders will be able to vote on key governance decisions around both networks – Arbitrum One and Arbitrum Nova. Both networks allow users to conduct transactions on the Ethereum blockchain with greater speeds and lower fees.

User Eligibility

Arbitrum worked closely with crypto analytics firm Nansen for creating snapshots of user activity in order to determine which users are eligible for claiming ARB tokens. Factors taken into consideration were total number of transactions conducted, applications used and how long user used each network. Users can check their eligibility for claiming tokens during this airdrop by visiting gov.arbitrum.foundation but have to beware of hackers or scammers sending them fake websites for phishing purposes.

Supply Of Tokens

The details available reveal that there will be 10 billion supply of ARB tokens out of which 44% will be issued to investors and core contributors while rest will get distributed through mining rewards over time as well as liquidity mining activities in Uniswap pools once mainnet launches later in 2021.

Benefits To Token Holders

Holders of this token get voting rights over protocol upgrades besides being able control revenue usage from chain in order to support its ecosystem’s development such as incentivizing developers or funding research initiatives etcetera..

Conclusion

ARG is expected to increase decentralization level among all existing competitors with Offchain Labs no longer having any control over its future due tp DAO’s powers over protocol’s upgrade decision making process along with revenue usage from chain for supporting its ecosystem developments initiatives etcetera..