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- The network has designated 1.13% of its total token supply of 10 billion for airdrops to qualifying DAOs.
- The Treasure DAO received 8 million ARB.
Recently, Arbitrum, a leading Layer-2 scaling solution for Ethereum, commenced the distribution of its governance token, ARB. The network has set aside 1.13 percent of its total token supply of 10 billion for airdrops aimed at eligible DAO projects as part of its initiative.
The complete distribution of the DAO airdrop is scheduled for today for those who have confirmed receipt of the test transaction sent out earlier last week.
For further information regarding the DAO distribution, please refer to the thread below.https://t.co/naApiR7uT2
— Arbitrum (
,
) (@arbitrum) April 24, 2023
,To date, Arbitrum has distributed nearly $120 million worth of ARB to 125 DAO accounts. The Treasure DAO secured 8 million ARB, while the remaining 60 DAOs each received a minimum of 75,000 ARB.
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However, GMX, a decentralized exchange operating on Arbitrum, has yet to obtain its 8 million ARB. Other significant projects among the top 15 recipients include SushiSwap, Balancer, Aave, and DODO, which received 4.25 million, 3.01 million, 2.7 million, and 2.2 million ARB, respectively.
Developers of Arbitrum have previously indicated that the airdrop will not be retroactively applied. The emphasis is instead on decentralizing layer 2 network governance to smaller communities.
The platform stated that airdrops would be allocated only to projects possessing both a DAO and a community treasury, with the exception of The Protocol Guild, which consists of developers contributing to Ethereum’s core protocol.
Factors such as deployment date, whether the DeFi project was multi-chain or native to its ecosystem, transaction volume, total value of locked assets, and native liquidity transferred to the ecosystem were all taken into account. Following the long-anticipated ARB airdrop to early adopters, this represents the next logical progression.
As per CMC, the current price of Arbitrum is $1.32 USD, with a 24-hour trading volume of $532,002,135 USD. Arbitrum has decreased by 0.66% over the last 24 hours.
