Arbitrum, a leading layer-2 scaling solution for Ethereum, has transferred unclaimed tokens from its airdrop to its treasury.
Arbitrum Foundation Sends Unclaimed ARB To The DAO Treasury as Airdrop Ends
, a leading layer-2 scaling solution for Ethereum, has transferred unclaimed tokens from its airdrop to its treasury.
The Arbitrum Foundation sent 69.4 million unclaimed ARB tokens to the Arbitrum DAO, stating that users will no longer be able to claim them. The transferred tokens are valued at approximately $56 million.
Around 93% of eligible users had already claimed their tokens, and the unclaimed tokens represent 0.69% of the total token supply.
Arbitrum was developed by Offchain Labs in 2021, and in March 2023, it launched a highly anticipated airdrop of its governance token, ARB, which allows participation in the Arbitrum DAO's on-chain governance protocol. Eligible users had until Ethereum block 18208000, estimated to be generated on Sept. 24, to claim their airdrop.
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