Arbitrum

Foundation

Coin

<ul class="news-points"> 
 <li>Around $56.5 million worth of ARB in unclaimed tokens were sent back to the project’s treasury.</li> 
 <li>ARB may continue to move between $0.80 and $0.83 in the short term.</li> 
 <li>If the OBV fails to rise, then ARB could drop to $0.79.</li> 
</ul> 
The <a href="https://coinedition.com/arbs-week-of-gains-may-be-followed-by-a-drop-to-0-746/">Arbitrum (ARB)</a> Foundation has ordered that the 69.44 million unclaimed ARB tokens be returned to the DAO’s treasury. The tokens represent what is left of Arbitrum’s decision to distribute rewards to its early users earlier in the year. 
<h2 class="wp-block-heading" id="h-arb-goes-back-to-the-initiators">ARB Goes Back to the Initiators</h2> 
In March, when Arbitrum’s Mainnet launched, the project allocated a sizable portion of the tokens to its Testnet users. Within the first hour of launch, over 42 million ARBs were claimed, and on the first day, users had claimed $120 million worth of the token. 
Despite the impressive number, there was still about $56.5 million worth of ARB left unattended. For the Arbitrum Foundation, six months is enough to claim the tokens. Hence, the decision to take back the tokens to the treasury. 
At press time, the DAO’s <a href="https://arbiscan.io/token/0x912ce59144191c1204e64559fe8253a0e49e6548?a=0xf3fc178157fb3c87548baa86f9d24ba38e649b58" target="_blank" rel="nofollow">wallet</a> had 3.95 billion ARB, valued at $2.92 billion. However, the decision seemed to have lit…
The post <a rel="nofollow" href="https://coinedition.com/arbitrum-dao-sends-unclaimed-tokens-to-treasury-as-arb-drops/">Arbitrum DAO Sends Unclaimed Tokens to Treasury as ARB Drops</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Arbitrum DAO Sends Unclaimed Tokens to Treasury as ARB Drops

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