Arbitrum to airdrop 112.8M ARB tokens to DAOs on its ecosystem

Arbitrum, a leading Ethereum Layer 2 scaling solution, has announced its plans to offer an airdrop of 112.8 million ARB tokens to various decentralized autonomous organizations (DAOs) within its ecosystem. The move is seen as a way to drive greater adoption of the technology, with the tokens expected to provide various incentives to users for utilizing the platform. The airdrop is scheduled to take place over the next few weeks, with eligible DAOs receiving a proportional share of the tokens based on their level of activity on the network. The announcement has been met with widespread enthusiasm from the crypto community, with many experts predicting a surge in demand for ARB tokens as a result of the airdrop.

Arbitrum to Airdrop $112.8 Million Worth of Tokens to DAOs on March 23

Ethereum’s layer2 solution, Arbitrum, has announced that it will distribute 112.8 million ARB tokens to 137 Decentralized Autonomous Organizations (DAOs) on its network on March 23. According to the company, the airdrop is not a retroactive grant, but rather a way to empower sub-communities on the layer2 network to localize their governance decisions.

In a tweet, Arbitrum explained that the airdrops will be given only to projects with a DAO and a community treasury. However, it has made an exception for The Protocol Guild, a collective of Ethereum core developers and contributors. The company also revealed that it considered other factors such as the project’s deployment date, multi-chain or native to its ecosystem, transaction volume, total value of assets locked on the project, and native liquidity moved to the ecosystem.

The airdrop is intended to spread governance power more widely among users than solely allocating it to those who were eligible for the airdrop. The highest amount of tokens, eight million each, will go to the decentralized exchange GMX and TREASURE. Other projects like Uniswap (UNI), SushiSwap (SUSHI), MakerDAO, KyberSwap, DODO, Camelot, and 24 other projects will receive over 1 million ARB tokens. ParaSwap, Chainlink (LINK), and 43 other projects will get over 200,000 tokens, while the least amount of tokens (75,000) will be distributed to 60 decentralized finance (DeFi) projects.

This airdrop is expected to promote greater decentralization and wider community participation in decision-making on the Arbitrum network. With its layer2 solution, Arbitrum aims to make Ethereum more scalable while retaining its core functionalities. The airdrop reinforces its commitment to the growth and development of the Ethereum ecosystem.

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