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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. Looking closely at the distribution, 113 million ARB tokens will also be distributed to DAO treasuries of protocols building on Arbitrum. Mark your calendar for March 23, 2023, as the Arbitrum token airdrop goes live. Furthermore, Arbitrum is attempting to encourage more users to join its ecosystem by stating its intention to initiate more airdrops for users who continue to use the Arbitrum ecosystem. You must use an Ethereum wallet compatible with the Arbitrum token; that is, the wallet must be compatible with ERC-20 tokens. Arbitrum’s recommended wallets are Rainbow, Coinbase Wallet, Metamask, WalletConnect, Trust Wallet, and LedgerLive.
The Arbitrum airdrop is a strategy that Arbitrum will use to distribute its ARB tokens to its users. This will help Arbitrum officially launch its native token and spearhead its circulation to early adopters. Arbitrum is a layer 2 blockchain scaling solution built on top of the Ethereum blockchain. Offchain Labs created it in August 2021 with the aim of speeding 10 top cloud security companies up transaction times while lowering the on-chain transaction costs and promoting scalability.
However, all employee and investor tokens will be subject to vesting schedules and lock-up periods. Additionally, Arbitrum supports the Ethereum Virtual Machine (EVM). This means that Ethereum decentralized finance (DeFi) developers can easily link their decentralized applications (DApps) with Arbitrum without making any changes to their apps.
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A helpful way to check your transaction history is by steps to buy bitcoin on atm steps to buy cardano from atm machine using a blockchain explorer like Arbi Scan. A blockchain explorer is like a search engine for blockchain networks, allowing you to review your wallet’s activity with the Arbitrum network during the eligibility period and making sure you have the right wallet. If you haven’t already, this is where you will need to add the Arbitrum One network to your web3 wallet. The website will guide you through how to do this step by step after you connect your wallet, there will be a popup instructions box.
Step 4: Claim Your Tokens!
The release of ARB is planned alongside Arbitrum Obit’s start, which lets other apps and protocols create new Layer 3 blockchains on Arbitrum’s low-cost system. 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. It is already a popular Ethereum Layer 2 solution with many users and supporters worldwide. The rollout of its cryptocurrency is a boon for those users, and we’re interested to see where it will lead in the coming months. You won’t be able to claim your tokens until March joins in crypto miner to its 23, 2023, when claiming goes live.
Arbitrum to Airdrop New Token and Transition to DAO
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. Arbitrum worked with Nansen, the crypto analytics firm, to “snapshot” user activity in February in order to determine who should be eligible for ARB tokens. “How many transactions you did, how many different applications you used, and how long you’ve been using” Arbitrum One and Arbitrum Nitro were among the factors used to determine eligibility, according to Goldfeder. Arbitrum is a layer 2 solution designed to improve the capabilities of Ethereum smart contracts — boosting their speed and scalability, while adding in additional privacy features to boot. The platform is designed to allow developers to easily run unmodified Ethereum Virtual Machine (EVM) contracts and Ethereum transactions on a second layer, while still benefiting from Ethereum’s excellent layer 1 security.
Thus, the minimum airdrop entitlement is 625 tokens, half of the minimum entitlement in the table above; the maximum airdrop entitlement is tokens. A points system was used to determine the number of tokens that airdrop recipients can claim. Points criteria was focused primarily on Arbitrum One; however, there was a small subset of criteria applied to activity on Arbitrum Nova.
- “How many transactions you did, how many different applications you used, and how long you’ve been using” Arbitrum One and Arbitrum Nitro were among the factors used to determine eligibility, according to Goldfeder.
- One way to avoid being scammed is to make sure you only access Arbitrum’s airdrop through the Arbitrum Foundation, the official site for the project.
- The airdrop’s aim is to celebrate Arbitrum’s growth and distribute governance tokens to early supporters.
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According to L2 Beat, a layer 2 analytics site, Arbitrum holds 55% of the Ethereum Layer 2 market share. As you prepare for the Arbitrum airdrop, it’s essential to look ahead and consider the crucial steps to take after the event. Here are several factors to consider to ensure you make the most of your newly acquired tokens. All criteria will be disqualified if you received fewer than three points. The Arbitrum Foundation aimed to involve numerous authentic users in the airdrop, but inevitably, some recent or sporadic users didn’t make the cut. To differentiate between newcomers and airdrop farmers, a points system was employed to determine token eligibility.
Eligibility Criteria: The Golden Ticket to the Airdrop
Arbitrum, a pioneering Layer 2 Ethereum scaling solution, outshines rivals Polygon and Optimism, standing twice their size and ranking fourth by total value locked (TVL) among all cryptocurrency projects. This innovative project seeks to enhance Ethereum’s speed, scalability and efficiency while reducing costs. The airdrop’s aim is to celebrate Arbitrum’s growth and distribute governance tokens to early supporters. Trust Wallet is an easy-to-use, non-custodial crypto wallet that enables users to securely buy, store, sell, and swap over 9M+ crypto assets across 70 blockchains, all under one app. With more than 25M+ users, Trust Wallet is the most secure crypto wallet you can find in today’s market. Rollups are a smart contract scaling solution that involves compiling multiple off-chain transactions in a process known as ‘rolling up’.
The Arbitrum Foundation and Offchain Labs worked with Nansen, a crypto analytics firm, over a couple of months to develop eligibility criteria for the ARB token airdrop. Some factors they looked at included how long a user had been using Arbitrum One and Arbitrum Nitro, how many transactions they did, and the various applications they utilized. They then built a points system hinged on the different metrics of Arbitrum’s usage.