Layer 2 Network Arbitrum’s long-awaited airdrop has finally been announced. In a tweet dated today (16th March), the official Arbitrum Twitter posted a link to a YouTube video titled “Wen? Now”.
According to a post on Arbitrum’s Governance Documents, snapshots for the $ARB token were taken on the 6th of February, with the airdorp set to occur on the 23rd of March.
Am I Eligible For The $ARB Token?
If you’re rushing – click this LINK to check whether you qualify for the $ARB token airdrop.
Otherwise, eligibility for the airdrop was broken down into two periods – pre and post Arbitrum Nitro.
By performing certain actions on the Arbitrum Network, users were awarded points, with a bias toward early adopters. For example, if users had bridged funds, conducted transactions on two distinct months, and interacted with four different smart contracts, and conducted $10,000 in transactions, they would be eligible for four points
These points then translate to their respective airdrop entitlement (i.e. 4 points = 1,700 $ARB tokens)
Tokenomic Breakdown and Comparison With Optimism $OP Airdrop
$ARB is set to go live with a maximum supply of 10 billion tokens, with a capped inflation rate of 2% annually.
According to their site, 11.62% of this, or 1.16 billion tokens, have been set aside for airdrops to reward Arbitrum users.
As Arbitrum is shifting toward a DAO governance format, a large part of the $ARB token allocation – 42.78%, will set aside for the DAO Treasury. The remaining allocation will be split between the team, investors, and protocols building on Arbitrum.
In comparison, fellow Layer 2 Optimism distributed 5% of their total supply, or 200 million $OP tokens during their first airdrop. While more airdrops have since been conducted by Optimism, their native token is still valued at $2.4 with approximately a $760,000,000 market capitalization.
Should Arbitrum achieve the same valuation as Optimism, this could translate to each $ARB token being worth $0.105.
[Editor’s Note: This article does not represent financial advice. Please do your research before investing.]
Featured Image Credit: ChainDebrief