Arbitrum Announces Anticipated ARB Airdrop

Working as a layer-2 solution on the Ethereum network, Arbitrum is moving to the DAO governance model. The protocol will also issue a crypto-asset called ARB, using this asset as a governance token. The ARB, which will have a supply of 10 billion, will be distributed via airdrop to the Arbitrum DAO treasury, Offchain Labs, the company behind the Arbitrum protocol, Offchain Labs investors, users of the Arbitrum platform and other DAOs using the layer-2 network.

Layer-2 network Arbitrum announced the adoption of DAO as its governance model yesterday, while its new issued token ARB will be distributed to rights holders starting March 23. The initial supply of the new cryptocurrency is set at 10 billion units. According to the information on the official site, the annual inflation rate of the ARB is expected to be a maximum of 2%. ARB tokens will be distributed to Arbitrum platform users and DAOs prior to the block height of 58,642,080 on Arbitrum One last month.

In the statement made about the ARB issuance, it was stated that the tokens to be distributed to the investor and team have a 4-year lock-in period. The first unlocking will take place within a year, followed by monthly unlocks for 3 years. 56% of the ARB supply will be controlled by the community, and 44% will be allocated to Offchain Labs’ investors and main contributors. ARB assets will only be used for protocol governance, and token holders will have the ability to vote on proposals for code changes on the network.

In the Arbitrum ecosystem, which has moved to a new governance model, the actions in the Blockchain network will be determined by voting among the ARB-owning community members. In addition, in the statement made by Offchain Labs, it was announced that Arbitrum Orbit will be launched as a permissionless solution for developers to create a third layer (L3) Blockchain network using Arbitrum technology, apart from the DAO model.