Arbitrum foundation has finally announced its long awaited arbitrum airdrop. $ARB will be airdropped to community members on Thursday, March 23. ARB’s total circulation will number 10 billion. The Arbitrum community will control 56% of those tokens – the airdrop will grant 11.5% of the total supply to eligible Arbitrum users, and 1.1% to DAOs
$ARB will be used to participate in the Arbitrum DAO. Arbitrum will be the first L2 to have “self-executing governance,” meaning governance will happen entirely on-chain. Proposals do NOT have to be implemented manually by the core team.
$ARB isn’t the only launch. Arbitrum has also announced Arbitrum Orbit, a framework for creating L3s that settle to Arbitrum-based rollups. L3s are “L2s for L2s” and retain the security guarantees of the L2 but allow for massive increases in scalability. 1.162 Billion $ARB token will be airdropped to users of the arbitrum platform.
$ARB Distribution:
43% – Arbitrum DAO community treasury
27% – Offchain Labs
17.53% – Arbitrum Investors
11.62% – Arbitrum Users (“The Airdrop”)
1.13% – DAOs on Arbitrum (“DAO Airdrop”)
User airdrop eligibility details: https://docs.arbitrum.foundation/airdrop-eligibility-distribution
DAO airdrop criteria and distribution
A separate distribution was allocated for DAOs that are building applications in the Arbitrum ecosystem, as well as the Protocol Guild, a collective of Ethereum contributors. The distribution of tokens to DAOs was weighted based on a variety of factors, including time projects have been on Arbitrum, TVL of assets on the chain, whether a project was Arbitrum native, and whether project operated with actual on-chain treasuries.
Vesting and lockup details
While the user and DAO airdrops will be available in one week, all investor and team tokens are subject to 4 year lockups, with the first unlocks happening in one year and then monthly unlocks for the remaining three years.
