• Arbitrum has launched its native governance token, ARB.
• Early users can check their eligibility for the airdrop.
• The Arbitrum Foundation is launching a decentralized autonomous organization (DAO) and airdropping a portion of ARB to its early users.
Arbitrum Launches Governance Token
Arbitrum has launched its native governance token, ARB. This means that Arbitrum is launching a decentralized autonomous organization (DAO) and airdropping a portion of ARB to its early users.
Eligibility for Airdrop
Early users can check their eligibility for the airdrop by meeting one or more of the following criteria before February 6, 2023: bridging funds into Arbitrum One; conducting transactions during distinct months; conducting more than four transactions and interacting with more than four different smart contracts; conducting transactions exceeding $10,000 or more in value; depositing more than $10,000 of liquidity into Arbitrum; bridging funds into Arbitrum Nova; and conducting more than three transactions in Arbitrum Nova. Users can check if they’re eligible for the airdrop here: https://arbitrum.foundation. Claiming starts on March 23.
ARB Token Distribution
The total amount of tokens allocated to users through an airdrop is 11.62%. In total, 1.162 billion ARB will be distributed via an air drop to user wallet addresses. Additionally, 44.47% of the total ten billion ARB will be allocated to Offchain Labs, the development team behind Arbitrum, as well as advisors and investors associated with the project..
ARB Token Value
The value of each ARB token has yet to be determined but they will not be used for fees on the platform itself.
In addition to the launch of the token itself, Arbitum also announced that it is taking steps towards decentralization by forming an official DAO structure for both its platforms – Arbritum One and Arbritum Nova – where governance decisions will be made democratically utilizing these newly minted tokens as votes on various matters within these networks