Airdrop

Arbitrum Launches Native Governance Token ARB And Self-Executing DAO Governance Model

Published

7 days ago

March 17, 2023

Arbitrum Launches Native Governance Token ARB And Self-Executing DAO Governance Model

The Ethereum layer two (L2) scaling solution Arbitrum has launched a native governance token named ARB and a self-executing decentralized autonomous organization (DAO) governance model. The ARB token will have an initial supply of 10 billion, and coins will be airdropped to the Arbitrum DAO treasury, Offchain Labs (the company behind Arbitrum), Offchain Labs investors, users of the Arbitrum platform, and DAOs that are building with the L2 technology.

Arbitrum Launches Self-Executing DAO Governance Model That Aims for Increased Decentralization

Arbitrum, the L2 scaling project, has announced the launch of a self-executing DAO governance model and a new governance token called ARB on March 16, 2023. “Today, the Arbitrum Foundation is extremely excited to announce the launch of DAO governance for the Arbitrum One and Arbitrum Nova networks, alongside the launch of ARB,” the team tweeted on Thursday. The ARB airdrop will be distributed to eligible Arbitrum ecosystem participants, and claiming begins on March 23.

There is an initial supply of 10 billion ARB tokens, and the system’s inflation rate will max at 2% per year, according to the “airdrop eligibility and distribution specifications” page. The ARB tokens will be distributed to early users and DAOs that have utilized the Arbitrum ecosystem before block height 58,642,080 on Arbitrum One, which occurred on Feb. 6, 2023. Arbitrum also noted that it believes the project is “leading the way as the first L2 to launch self-executing governance.”

The self-executing system means that the decentralized autonomous organization “votes about on-chain actions will directly have the power to effect and execute its on-chain decisions, without relying on an intermediary to carry out those decisions.” In addition to the governance system, Offchain Labs has revealed Arbitrum Orbit, a permissionless solution for any developer to build a layer three (L3) blockchain using Arbitrum technology, according to the firm’s press release.

Arbitrum is slightly late to the game in terms of L2s releasing native governance tokens, as Optimism revealed the optimism (OP) token launch in April 2022. Currently, OP is trading for $2.46 per unit, down more than 4% against the U.S. dollar over the last day. OP’s price today is 23.88% lower than the $3.22 all-time high OP achieved 20 days ago on Feb. 24, 2023.

The ARB airdrop announcement and eligibility qualifications further note that “a number of anti-Sybil rules were established” to combat bots from taking advantage of the ARB airdrop. The team also noted that the investor and team tokens are subject to four-year lockups, “with the first unlocks happening in one year and then monthly unlocks for the remaining three years.”

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Airdrop, Airdrop coins, anti-Sybil, arb, ARB airdrop, Arbitrum, Arbitrum airdrop, Blockchain, Bots, Cryptocurrency, DAO, decentralized autonomous organization, Developer, Distribution, Ecosystem, Ethereum, governance token, inflation, Investors, L2, launch, Layer 3, lockups, native, Offchain Labs, OP, Optimism, Orbit, permissionless, platform, Price, Scaling Solution, self-executing, technology, trading, U.S. dollar, users, Voting

What are your thoughts on the launch of ARB and self-executing DAO governance on the Arbitrum L2 platform? Share your thoughts in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Arbitrum Airdrop Goes Live: ARB Price Drops More Than 85%

Published

6 hours ago

March 23, 2023

Jamie Redman

Arbitrum Airdrop Goes Live: ARB Price Drops More Than 85%

On Thursday, the Arbitrum airdrop claiming process went live and ARB markets dropped more than 85% lower than pre-IOU market prices recorded the day before. Arbitrum airdropped just over a billion ARB tokens, or 11.6% of the total supply. At noon ET, more than 474 million tokens had been claimed.

Wild Volatility for ARB Token: Prices Range from $1.10 to $11.80 per Unit Following Airdrop

At block height 16,890,400, around 9 a.m. ET, the Arbitrum airdrop claiming process began and distribution of 11.6% of the supply started. The day before, Bitcoin.com News reported on exchanges listing IOU ARB markets just before the real ARB token launched on Thursday. At that time, ARB’s value in U.S. dollars was more than 85% higher. At the time of writing, a single ARB was trading for $1.25 per unit. The ARB token has seen wild volatility over the last 12 hours with prices ranging from $1.10 to $11.80 per ARB.

ARB’s price has been down despite bitcoin nearing $29,000 and ethereum rising to $1,855 per unit. ARB trade volume is much higher than the ARB IOU volumes recorded yesterday at $8.7 million. In the past 24 hours, roughly $849.81 million in ARB volume has been recorded. The top three crypto exchanges with the most ARB trading activity are Binance, Okx, and Bybit.

With 1.275 billion ARB in circulation, 474 million have been claimed by 244,255 unique addresses. Thirty-nine percent of eligible addresses have been claimed and more than 40% of the airdropped ARB has been received by recipients. At $1.25 per unit, ARB’s overall market valuation was $1.6 billion on Thursday afternoon at noon ET.

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Airdrop, arb, ARB airdrop, ARB tokens, Arbitrum, Arbitrum airdrop, Billion, Binance, Bitcoin, block height 16.890.400, Bybit, Circulation, claimed, claiming, Distribution, drop, eligible, Ethereum, Exchanges, Higher, IOU ARB markets, launched, listing, live, market, Markets, noon, Okx, pre-IOU, Prices, process, recipients, rising, single unit, Supply, Thursday, trade volume, U.S. Dollars, Unique addresses, valuation, Value, volatility

What do you think about the Arbitrum airdrop and its impact on the crypto market? Share your thoughts in the comments section below.

Jamie Redman

Image Credits: Shutterstock, Pixabay, Wiki Commons

adoption

Arbitrum network activity booms ahead of airdrop

Published

13 hours ago

March 23, 2023

Andjela Radmilac

Arbitrum network activity booms ahead of airdrop Andjela Radmilac · 6 hours ago · 2 min read

Arbitrum saw a record number of daily transactions and unique addresses as the market gears up for the upcoming ARB airdrop on March 23.

2 min read

Updated: March 23, 2023 at 10:36 am

Cover art/illustration via CryptoSlate

Network activity on Arbitrum has been booming, with the popular Ethereum layer-2 solution seeing an unprecedented uptick in the number of transactions and addresses.

According to data from Arbiscan, the network processed over 1.3 million transactions on March 21 — up from 1 million transactions recorded on March 20. The sharp increase in the number of daily transactions began in late January and pumped further after Arbitrum announced a massive airdrop to its users.

Graph showing the number of daily transactions on Arbitrum from July 2021 to March 2023 (Source: Arbiscan.io)

The airdrop will see 1.27 billion ARB tokens distributed to users based on a Feb. 26 snapshot. The 1.27 billion ARB tokens represent 12.75% of the token’s circulating supply. Out of the 10 billion tokens, around 56% will be allocated to the community.

Set to take place on March 23, the airdrop will also see 112.8 million ARB tokens distributed to various DAOs in its ecosystem. The network said that this was a way to “empower the subcommunities” and entice them to participate in governance decisions once it fully transitions to a DAO.

Decentralized exchanges (DEXs) GMX and TREASURE would get 8 million tokens each, while Uniswap (UNI) and SushiSwap (SUSHI), would get 4.3 million and 4.2 million ARB tokens, respectively. MakerDAO, KyberSwap, DODO, Camelot, and 24 other projects would receive over 1 million ARB tokens.

The number of unique addresses on Arbitrum has also been growing rapidly. Since the beginning of the year, the network saw almost 1.5 million new addresses created.

Graph showing the number of unique addresses on Arbitrum from July 2021 to March 2023 (Source: Arbiscan.io)

Interest in Arbitrum has also gone up thanks to Coinbase following the announced that it would support its upcoming ARB token and list it for trading. Trading is expected to begin sometime after the airdrop once sufficient supply and liquidity conditions are met. The exchange said that the USD-ARB trading pairs will launch in phases and be considered “experimental.”

The Arbitrum frenzy also saw many users start selling wallets eligible for the airdrop. The current speculative value of ARB hovers around $1, but various IOU markets show that the token is expected to trade around $6 following the airdrop.

Graph showing Arbitrum’s expected IOU price on March 23 (Source: CoinGecko)

Airdrop

BLUR launches on Valentine’s Day, sees this % of claims on first day

Published

1 month ago

February 16, 2023

Suzuki Shillsalot

BLUR launches on Valentine’s Day, sees this % of claims on first day

Blur eventually dropped its token on 14 February.
51% of the token is allocated to the community, according to released tokenomics.

While some around the globe celebrated Valentine’s Day, Blur [BLUR] gave fans what they had been waiting for by releasing its much-anticipated token. The company alerted followers to the release through a social media post on 14 February and pointed qualified users to the AirDrop landing page.

IT’S TIME FOR $BLUR
Care Packages can be opened on Feb 14 at 12PM EST, 1AM HKG, 6PM CET.
Make sure the launch announcement comes from our official @BLUR_io account tomorrow and double check all URLs before claiming. pic.twitter.com/tSbOPLqYTW
— Blur (@blur_io) February 13, 2023

Is your portfolio green? Check out the Blur Profit Calculator

The tokenomics revealed

It was previously noted that the lack of tokenomics was a major complaint against Blur. Unfortunately, there was a lack of it, which cast doubt on the legitimacy of the token and the process by which it was distributed. However, on 14 February, the tokenomics was made public and described the distribution schedule and methods in detail.

In addition, the tokenomics stated that contributors, advisors, investors, and the community at large would receive varying percentages of tokens.

Source: Blur

Community scoops up the BLUR

In all, 360 million tokens were distributed, and as of this writing, over 303.3 million tokens have been claimed, according to statistics from Dune Analytics. The claimed tokens on the first day amounted to over 80% of the AirDrop.

Additionally, the dune data showed that 39.6% of recipients got 100- 1,000 tokens, while 35.8% got 1,000- 10,000 tokens. According to the statement on the Blur page, traders have 60 days to claim their AirDrop.

Source: Dune Analytics

Seven addresses sold all the BLUR tokens they had claimed, while 15 of the top 20 recipients traded the token, according to a post by Lookonchain. On its first day of trading, the price of the token soared to more than $5. However, as of this writing, the price adjusted, and was trading at roughly $0.73, reflecting a gain of over 12% over the same trading time.

How much are 1,10,100 BLURs worth today?

In addition, major exchanges and wallets, including Huobi, OKEx, and Coinbase, promised support for the coin before it launched.

Source: Trading View

The success of the token following its AirDrop remains to be seen. Additionally, it is still being determined if and how the token would affect trades on the Blur NFT marketplace.

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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Arbitrum Launches Native Governance Token ARB And Self-Executing DAO Governance Model

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Arbitrum Launches Native Governance Token ARB And Self-Executing DAO Governance Model

Arbitrum Launches Self-Executing DAO Governance Model That Aims for Increased Decentralization

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Jamie Redman

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Arbitrum Airdrop Goes Live: ARB Price Drops More Than 85%

Wild Volatility for ARB Token: Prices Range from $1.10 to $11.80 per Unit Following Airdrop

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Jamie Redman

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Arbitrum network activity booms ahead of airdrop

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Arbitrum Launches Native Governance Token ARB And Self-Executing DAO Governance Model

Arbitrum Launches Self-Executing DAO Governance Model That Aims for Increased Decentralization

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