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Dune Analytics data on March 24 reveals that 472,845 ARB claimers have received roughly 892 million tokens since the airdrop began.
The ARB Airdrop
As of March 24, there were precisely 891,924,000 ARB tokens claimed, translating to a 76.75% claim rate.
Parallel data from Arbiscan shows that there is 10 billion ARB as the total supply, with 291,552 holders as of March 24. With this claim rate, only 273,037,185 ARB remains to be claimed at the time writing.
The balance should decrease over time as more people claim their tokens as eligible users began claiming their ARB on March 23. The Arbitrum Airdrop snapshot was done in late February 2023.
Distribution started on March 23 at a block height of 16,890,400 on Ethereum. While Ethereum triggers claiming dates, all claims will be on Arbitrum.
Arbitrum says claiming will end on September 23, 2023. Users who qualify for the ARB airdrop would have completed tasks such as bridging funds to Arbitrum or conducting transactions before the snapshot date.
The ARB token is based on the ERC-20 standard and is fungible.
This means recipients can move their tokens to supported exchanges, including DEXes, liquidating them for cash or other liquid tokens.
As it stands on March 24, traders have been moving their tokens to exchanges and trading them, sometimes booking decent profits.
Are there whales buying $ARB?
1.🧵
Share the top 5 buyers of $ARB with you.A whale bought 4.94M $ARB with 3,700 $ETH ($6.79M)! pic.twitter.com/lSdVzenlxp
— Lookonchain (@lookonchain) March 24, 2023
Arbitrum Is Decentralizing Governance
ARB is the governance token of Arbitrum, a general-purpose layer-2 portal scaling Ethereum. It supports projects to deploy dapps using smart contracts.
According to the Arbitrum documentation, developers can choose Arbitrum One or Nova to deploy various solutions. At the core, these platforms, specifically Arbitrum One, launched earlier, rely on Rollup. Meanwhile, Nova depends on the AnyTrust protocols for scalability.
ARB Price On March 24 | Source: ARBUSDT On Binance, TradingView
By releasing ARB, the platform aims to decentralize governance so that holders can have a say on the development trajectory of the project in the days ahead. Holders of ARB will be free to vote on governance proposals forwarded by various developers to their DAO. There is also a security council, comprising 12 entities selected by the DAO, tasked with ensuring the platform is safe.
Besides directly voting for proposals, holders can delegate their ARB tokens to other delegates. In this way, the platform aims to give token holders a voice, aligning with the principles anchoring blockchain, mainly decentralization.
An extract reads:
Decentralization of Arbitrum’s technology governance represents an important step towards community governance of Ethereum’s scaling technologies and further aligns the Arbitrum community’s incentives with those of the Ethereum community at large.
