Mar 16, 2023 9:03 pm
Arbitrum to Airdrop Governance Token ARB on March 23, Transition to DAO
According to CoinDesk, the Arbitrum Foundation said that Arbritrum's new token, ARB, will be airdropped to community members on March 23. According to the Arbitrum Foundation, the ARB will mark the official transition of Arbitrum to a decentralized autonomous organization (DAO), meaning ARB holders will be able to vote on key decisions governing Arbitrum One and Arbitrum Nova. The Arbitrum Foundation plans to award a relative 44% of tokens to investors and core contributors. Additionally, Arbitrum partnered with crypto analytics firm Nansen to take a snapshot of user activity in February to determine who should be eligible for ARB tokens.