The main objective of an airdrop is to create awareness of the new token, to boost circulation, and to decentralize the token holders. The number of tokens you receive from the ARB airdrop will depend on your eligibility score, based on the number of criteria you meet. If you have fewer than three points, you won’t be eligible to earn any amount from the airdrop. Depending on the number of points users have, they can earn between 621 ARB and 10,250 ARB, the maximum number of tokens that can be allocated to a wallet.
Step 5: Move Your Tokens to Newton
To claim the Arbitrum airdrop, you need to be eligible based on the points you earned according to the criteria outlined by the team. If you are eligible, you can follow the steps below to claim your Arbitrum airdrop. It is important to note that point scores were capped at 15, and users could earn a maximum of one point per qualifying action performed before the snapshot date. Also, points earned on Arbitrum Nova could either bring a user up to 4 points total, or give them one additional point if they had already scored 4 points or more on Arbitrum One. Permissionless is a conference for founders, application developers, and users. Come meet the next generation of people building and using crypto.
Arbitrum’s Version of Optimistic Rollup
Thus, the minimum airdrop entitlement is 625 tokens, half of the minimum entitlement in the table above; the maximum airdrop entitlement is tokens. This distribution to protocols sought to create a more diverse base of ARB token holders to further decentralize the chain across the team, investors and individual users. Moreover, as protocols directly build on the chain, protocols could propose changes from the perspective of builders to the benefit of all users of Arbitrum. Many crypto projects use airdrops to attract new users and increase token awareness. Free cryptocurrencies are shared with eligible users during airdrops based on certain criteria.
Arbitrum’s recommended wallets are Rainbow, Coinbase Wallet, Metamask, WalletConnect, Trust Wallet, and LedgerLive. When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place.
- The value can range from US$50 to US$10,000 depending on how extensive your interactions within the Arbitrum ecosystem was.
- The number of tokens you receive from the ARB airdrop will depend on your eligibility score, based on the number of criteria you meet.
- You can vote with your own tokens, or you can delegate your voting power to someone else.
How to claim $ARB
These tokens will be subject to lock-up periods and vesting schedules. Notably, the proportion of ARB reserved for insiders is higher compared to similar projects, such as Optimism, which allocated 36% of its OP tokens to investors and core contributors. The team has since then expanded to a global community of developers, academics and operators, with deep experience in cryptography, decentralized systems, and game theory. If you’re eligible, you should be able to follow the onscreen instructions and click claim, and the tokens will be deposited into your wallet.
The Arbitrum(ARB) token is an ERC-20 governance token used to participate in Arbitrum DAO’s on-chain governance. owner’s equity examples and formula The token is minted on Arbitrum One, a Layer 2 Arbitrum rollup chain, and managed by the DAO, which governs both Arbitrum One and Arbitrum Nova chain protocols. Owning $ARB tokens allows you to vote on Arbitrum One and Arbitrum Nova chain governance proposals, such as chain upgrades and the use of the DAO Treasury funds. Votes are token-weighted, meaning the more tokens you have, the more influence your vote has.
You won’t be able to claim your tokens until March 23, 2023, when claiming goes live. After that, the token will be listed on Binance, where you can start trading it immediately (indeed, some folks have already started trading ARB tokens!). Arbitrum will airdrop $ARB tokens directly to your eligible wallet address via MetaMask, Trust Wallet, Coinbase Wallet, Brave or Ledger. Some of the top decentralized finance (DeFi) protocols include Uniswap, Curve, Aave, Balancer, and SushiSwap. Additionally, Arbitrum is not without its native protocols built on the blockchain which include GMX, Radiant, Dopex, and Vesta Finance. Arbitrum is developed by Offchain Labs, a New York-based startup committed to building innovative Ethereum scaling solutions.
Wallets identified as a sybil address under Hop Protocol’s Bounty Program, were also completely disqualified from receiving the airdrop. As the airdrop date approaches, it is necessary to exercise caution, particularly if you are eligible, to ensure you are using the right method and not falling prey to scammers. Once you’ve claimed your ARB tokens you can then move them to Newton. Go back to the homepage of your Arbitrum wallet, click “+” to check the received $ARB under “All My Assets”, and click “+” to add the token to the homepage of your wallet. Rather than executing a transaction on Ethereum, the transaction is instead sent to Arbitrum, whose throughput capacity is seven to 10 times greater than that of Ethereum. However, all employee and investor tokens will be subject to vesting schedules and lock-up periods.
Step 3: Check Your Eligibility
Points criteria was focused primarily on Arbitrum One; however, there was a small subset of criteria applied to activity on Arbitrum Nova. Points earned on Arbitrum Nova could either bring a user up to 4 points total, or give them one additional point if they had already scored 4 points or more on Arbitrum One. You earn maximum one point per qualifying action performed before the snapshot date. Unfortunately, when a crypto airdrop receives this much hype, it doesn’t take long for the crypto scammers to begin circling. Of the 10 billion ARB units intended to be its maximum supply, Arbitrum will airdrop 11.62% to its early adopters and 1.13% to the developers using Arbitrum for building apps. As with many crypto airdrops, Arbitrum aims to reward its early users, since only those who have interacted with the ecosystem to a specified extent up until February 16, 2023, can benefit from it.
Decentralized derivatives platform GMX and exchange Uniswap command the most value. Ethereum native dapps Aave and Curve have also launched on the network, among others. Prior to its token launch, the Ethereum layer-2 network had been governed by New York startup Offchain Labs — the developer behind the protocol. The Arbitrum ARB governance token airdrop is one day away and will mark the beginning of its transition into decentralization. With the distribution of tokens to the Arbitrum DAO treasury, community-owned protocols, and individuals, more than 55% of ARB tokens will be effectively distributed to the community. Looking closely at the distribution, 113 million ARB tokens will also be distributed to DAO treasuries of protocols building on Arbitrum.
Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
The transactions are then processed and sent back to the main chain after validation. Rollups are a smart contract scaling solution that involves compiling multiple off-chain transactions in a process known as ‘rolling up’. Once all the transactions have been rolled up, they are presented as a single transaction to the Ethereum blockchain.
Token holders will elect two groups of six security council members (totaling 12) every six months, each who will have private keys to a multsig that will control the protocol’s primary smart contract. As Arbitrum airdrop its token, it’s important that you tread with caution while claiming your ARB tokens to avoid falling prey to ARB airdrop scams. It’s not uncommon for scammers to use airdrops to phish users through spoof websites as well as other schemes. A cryptocurrency airdrop is where crypto projects send tokens or coins to eligible crypto wallet addresses. The median airdrop size is 1,250 ARB tokens, with more than 245,000 addresses, out of the total 625,143 eligible addresses, falling into this range.