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Arbitrum Airdrops $120M Worth ARB Tokens to 125 DAOs

Arbitrum (ARB) Begins Trading: Here’s What the Airdrop is Worth

Arbitrum, a leading Layer-2 scaling solution for Ethereum, started distributing its governance token (ARB) on April 25th.

The airdrop is part of the platform’s roadmap, which designates 1.13% of the overall 10 billion token supply for qualified DAO projects.

  • According to the latest data, over 90 million ARB worth $120 million has been distributed to 125 DAO wallets.
  • Treasure DAO received the highest amount with 8 million ARB, while 60 other DAOs received at least 75k ARB each.
  • Arbitrum-based decentralized exchange GMX is set to receive 8 million ARB but has not yet been airdropped.
  • Other prominent projects under the top 15 receivers are SushiSwap, Balancer, Aave, and DODO, with 4.25 million ARB, 3.01 million ARB, 2.7 million ARB, and 2.2 million ARB, respectively.
  • The team behind Arbitrum clarified that the airdrop is not a retroactive grant. Instead, the main aim is to empower the sub-communities on the Layer-2 networks to localize governance decisions.
  • The platform also mentioned that the airdrops will only be distributed to projects with a DAO and a community treasury. The Protocol Guild is an exception, which is made up of Ethereum core protocol contributors.
  • Factors such as the DeFi project’s deployment date, whether it was multi-chain or native to its ecosystem, the transaction volume, the total value of assets locked, and native liquidity moved to the ecosystem were weighed for fund allocation eligibility.
  • The development follows the much-anticipated ARB airdrop to early adopters.