Arbitrum

The Protocol

April

Treasure

Arbitrum &#8211; a leading Layer-2 scaling solution for Ethereum &#8211; started distributing its governance token (ARB) on April 25th.
The airdrop is part of the platform&#8217;s roadmap, which designated 1.13% of the overall 10 billion token supply for qualified DAO projects.
<ul>
<li>According to the latest <a href="https://spotonchain.com/" target="_blank" rel="noopener" data-wpel-link="external">data</a>, Arbitrum has distributed over 90 million ARB worth $120 million to 125 DAO wallets.</li>
<li>Treasure DAO was the top receiver with 8 million ARB, while 60 other DAOs pocketed at least 75k ARB each.</li>
<li>Arbitrum-based decentralized exchange GMX is also expected to receive 8 million ARB but has not been airdropped so far.</li>
</ul>
<blockquote class="twitter-tweet">
The full distribution of the DAO airdrop will take place today with those that have confirmed receiving the test transaction that was sent earlier last week.
For more details on the DAO distribution, please read the thread below. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;" /><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;" /> <a href="https://t.co/naApiR7uT2" data-wpel-link="external" target="_blank">https://t.co/naApiR7uT2</a>
— Arbitrum (<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f499.png" alt="💙" class="wp-smiley" style="height: 1em; max-height: 1em;" />,<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9e1.png" alt="🧡" class="wp-smiley" style="height: 1em; max-height: 1em;" />) (@arbitrum) <a href="https://twitter.com/arbitrum/status/1650541491012370435?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">April 24, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<ul>
<li>Other prominent projects under the top 15 receivers are SushiSwap, Balancer, Aave, and DODO, with 4.25 million ARB, 3.01 million ARB, 2.7 million ARB, and 2.2 million ARB, respectively.</li>
<li>The team behind Arbitrum had previously clarified that the airdrop was not a retroactive grant. Instead, the main aim is to empower the sub-communities on the layer 2 networks to localize governance decisions.</li>
<li>The platform also mentioned that the airdrops would be distributed only to projects with a DAO and a community treasury, with an exception for The Protocol Guild &#8211; an organization made up of Ethereum core protocol contributors.</li>
<li>Factors such as &#8211; the DeFi project&#8217;s deployment date, whether it was multi-chain or native to its ecosystem, the transaction volume, the total value of assets locked, and native liquidity moved to the ecosystem &#8211; were weighed in for eligibility of fund allocation.</li>
<li>The development follows the much-anticipated ARB <a href="https://cryptopotato.com/what-you-need-to-know-about-the-arbitrum-airdrop/" target="_blank" rel="noopener" data-wpel-link="internal">airdrop</a> to early adopters.</li>
</ul>
The post <a href="https://cryptopotato.com/arbitrum-airdrops-120m-worth-arb-tokens-to-125-daos/" rel="nofollow">Arbitrum Airdrops $120M Worth ARB Tokens to 125 DAOs</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Arbitrum Airdrops $120M Worth ARB Tokens to 125 DAOs

CryptoPotato_News

Other articles published on Apr 25, 2023

Batch Send Your Crypto Assets with Mass Transfer on the FTM Network

German State Regulators Begin Privacy Inquiry Into ChatGPT

Bitcoin (BTC) Price Prediction 2023, experts advise waiting on BTC and gobble RenQ Finance (RENQ)...

Visa builds the next generation of stablecoin payments

Enhance Token Distribution with Bulk Transfer on Ethereum Network

Jordan Ahli Bank Becomes First Middle Eastern Bank to Integrate AI in Customer Service with ahliG...

Join our free newsletter for daily crypto updates!