Using the Ethereum layer-2 platform, the developers of Arbitrum launched an airdrop of their governance token, ARB, to qualified users and DAOs. According to pre-launch trade prices and general calculations, the typical user received about 625 ARB tokens, which are equivalent to roughly $625 to $1,250. Before the scheduled airdrop of its native token ARB on Thursday, activity on Arbitrum, an Ethereum layer 2 scalability solution that leverages Optimistic rollups technology to deliver faster and cheaper transactions, has increased.
Arbitrum Is Heralding Airdrop Season
According to data provider Arbiscan, the daily total of operations on Arbitrum increased to a new historic high of 1,312,052 on Wednesday, exceeding the prior best of 1,103,398 reached on Feb. 21. There were 1.08 million transactions completed on the Ethereum mainnet.
Since announcing the coin airdrop a week ago, Arbitrum’s total has grown by more than 50%. Data from @Henrystats’ Dune Analytics-based ARB monitor shows that the foremost scaling project has added more than 400,000 new members in the last two weeks, bringing the total number of users to over 3 million. Later on Thursday, nearly 1 billion ARB coins will be distributed for free to about 625,000 wallets.
Delphi Digital stated in a tweet thread that “ARB is decentralizing by issuing its governing token ARB to move towards self-executing [decentralized autonomous organization] governance.” 1.275 billion tokens, or 12.75 percent of the total supply, will be given to DAOs operating within the ARB ecosystem. Airdrops, which include giving away free coins to the community, is a popular strategy for increasing adoption. The entire supply of ARB will be limited to 10 billion.