In this article, we will share how to claim the Arbitrum token. Once you’ve claimed your ARB tokens you can then move them to Newton. With the introduction of ARB, Arbitrum will transition into a decentralized autonomous organization (DAO), allowing ARB holders to vote on key decisions governing Arbitrum One and Arbitrum Nova.
Open your Arbitrum wallet, switch to the browser page and click “Arbitrum airdrop”.
- Arbitrum doesn’t have a token yet and could potentially have one in the future.
- 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.
- 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 this article, we will share how to claim the Arbitrum token.
- Click the Request an update button at the top of this document or join the Arbitrum Discord to share your feedback.
As of now, 56% of the overall ARB token supply is owned by the Arbitrum community, with 12.75% set to be distributed via airdrop to qualified users on Mar 23, 2023. The Arbitrum Foundation and DAO will dispense the remaining community-owned tokens gradually. Meanwhile, 44% of the total token supply will be allotted to investors and essential contributors.
ARB tokens will be used exclusively for protocol governance, allowing holders to vote on code changes. A 12-person security council governed by the Arbitrum DAO will have the ability to make quicker bug fixes. Offchain Labs, Arbitrum’s creator, emphasizes that the ARB token will make the Arbitrum ecosystem more decentralized than alternative scaling chains. We’ve covered Arbitrum extensively in the past, and if you have been following our guides, you would have benefitted from the airdrop. The value can range from US$50 to US$10,000 depending on how extensive your interactions within the Arbitrum ecosystem was. As the days count down to the airdrop, users have also begun speculating on the opening price of the ARB token.
Step 5: Move Your Tokens to Newton
Looking closely at the distribution, 113 million ARB tokens will also be distributed to DAO treasuries of protocols building on Arbitrum. Arbitrum worked with Nansen, a cryptocurrency consulting company, to evaluate ARB token eligibility based on user activity. We are not involved in the published airdrops in any way. Although we try to list only legit projects we can not be responsible for any issues or loss due to scam. The introduction of ARB coincides with the launch of Arbitrum Obit, enabling third-party apps and protocols to build layer 3 blockchains on Arbitrum’s low-fee infrastructure. ARB’s total circulation will be 10 billion, with 56% controlled by the community and 44% allocated to investors and core contributors of Offchain Labs.
Mark your calendar for March 23, 2023, as the Arbitrum token airdrop goes live. This document is currently in public preview and may change significantly as feedback is captured from readers like you. Click the Request an update button at the top of this document or join the Arbitrum Discord to share your feedback.
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. can i transfer my cryptocurrency interest to another wallet 2020 To claim your ARB tokens, you’ll need a wallet that’s compatible with the Ethereum network. While Newton isn’t affiliated with or endorses any particular wallets, there are many examples of such wallets including MetaMask, MyEtherWallet, and Trust Wallet. To ensure your eligibility to claim the airdrop, please connect the same wallet that you regularly use to interact with the Arbitrum network.
Arbitrum Airdrop: How to claim your free $ARB token?
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. 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. Arbitrum, Ethereum’s layer 2 scaling why use blockchain technology blockchain guides solution, has confirmed the launch of its latest token, ARB. The Arbitrum Foundation revealed that the tokens would be distributed to community members via Arbitrum airdrop, and that token claims would initiate on March 23. If you’re eligible, you should be able to follow the onscreen instructions and click claim, and the tokens will be deposited into your wallet.
DAO airdrop criteria and distribution
If you haven’t already, this is where you will need to add the Arbitrum One network to your web3 wallet. The website will guide you through how to do this step by step after you connect your wallet, there will be a popup instructions box. If you are already connected to the Arbitrum One Network, you may skip this step. 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. 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.
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. The Arbitrum Foundation declared the release of its latest digital asset, the ARB token, on Mar 16, 2023, marking the shift to a decentralized autonomous organization (DAO).
Arbitrum DAO will control key decisions at the core protocol level, including technology upgrades and revenue allocation for ecosystem support. The Arbitrum Foundation revealed that the tokens would be airdropped to community members, and token claims will begin on March 23, around seven days from the time asp tutorial of publishing. The token distribution for the airdrop was based on a points system centered primarily on Arbitrum One. However, only a few requirements were tied to Arbitrum Nova activity. To participate in the $ARB airdrop, there are specific requirements that must be met to determine eligibility.
What is ARB and How to Claim It?
Refer to our Sybil accounts concept document for a conceptual introduction to Sybil accounts. Go back to the homepage of your Arbitrum wallet, click “+” to check the received $ARB under “All My Assets”, and click “+” to add the token to the homepage of your wallet. Click “CONNECT WALLET” – “WalletConnect” – “imToken” and approve the DApp to connect to your wallet. Then click “CHECK ELIGIBILITY” to check the number of your claimable $ARB. Arbitrum’s delay in launching its governance token is attributed to prioritizing technology development.
The median airdrop size is 1,250 ARB tokens, with more than 245,000 addresses, out of the total 625,143 eligible addresses, falling into this range. On the high end of the spectrum, just over 4,400 addresses will be eligible to claim the maximum amount at 10,250 ARB tokens. Only one point was granted for each qualifying action, with a maximum of 15 points given to each participant. Let’s take a look at the documentation the team released, outlining the criteria that determine which users are eligible.
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. Subsequent unlocks will take place monthly, with the final unlock on 23 March 2027. Wallets identified as a sybil address under Hop Protocol’s Bounty Program, were also completely disqualified from receiving the airdrop. Refer to Arbitrum Sybil Hunting to learn more about the Sybil mitigation methodology.
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). Arbitrum has allocated a total of 1.162 Billion ARB for airdrops. As predicted in our speculative airdrop section, they’ve concluded the first round of airdrop to various users. There will also be future airdrops to users who continue to interact with the Arbitrum ecosystem, such as interacting with dApps like Vela Exchange and GMX.
Arbitrum is a layer 2 solution designed to improve the capabilities of Ethereum smart contracts — boosting their speed and scalability, while adding in additional privacy features to boot. Eligible users can claim tokens by visiting the official Arbitrum Website. Arbitrum collaborated with Nansen, a crypto analytics firm, to determine ARB token eligibility based on user activity.