Over 600K Addresses Qualified For Arbitrum Airdrop With 1,895 Tokens On Average
Moreover, the report highlights that only 4,428 addresses met the full allocation airdrop conditions, meaning that these addresses will receive the maximum amount of tokens. The airdrop was conducted to incentivize users to participate in the new Arbitrum network, a Layer 2 scaling solution for Ethereum.
Arbitrum, a Layer 2 scaling solution for Ethereum, is set to have a total circulation of 10 billion tokens. Of that total, the Arbitrum community will control 56%, with the remaining 44% going to investors and employees of Offchain Labs, the development firm behind the platform.
The airdrop will grant eligible Arbitrum users 11.5% of the total supply, while DAOs operating in the Arbitrum ecosystem will receive 1.1%. The remaining community tokens will be held in a treasury controlled by the new Arbitrum DAO, with ARB holders having the power to vote on how the funds should be disbursed.
Offchain Labs CEO Ed Felten has stated that the tokens reserved for insiders will be subject to lock-up periods and vesting schedules. However, the proportion of ARB tokens reserved for insiders is somewhat higher than in similar projects. For example, Arbitrum’s main competitor, Optimism, rewarded 36% of its OP tokens to investors and core contributors.
Nonetheless, the community and team tokens combined will constitute a significant portion of the total token supply, with the community tokens alone accounting for 11.5%. This distribution model aims to incentivize community involvement and support the growth of the Arbitrum ecosystem.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.