Arbitrum Airdrop Eligibility: How to Claim Your Free ARB Tokens
Arbitrum is a layer-2 scaling solution for Ethereum that aims to improve the speed, scalability, and affordability of smart contracts. Arbitrum has recently announced the launch of its native governance token, ARB, which will be airdropped to eligible users and DAOs on the Arbitrum platform.
In this article, we will explain what Arbitrum is, how the ARB token works, and how you can check your eligibility and claim your free ARB tokens from the airdrop.
What is Arbitrum?
Arbitrum is a protocol that enhances the capabilities of Ethereum smart contracts by moving most of the computation and storage off-chain, while preserving the security and decentralization of Ethereum. Arbitrum uses a technique called optimistic rollups, which allows users to execute transactions on a sidechain and periodically submit proofs to the main chain. If anyone disputes the validity of a transaction, they can challenge it and trigger an on-chain verification process.
Arbitrum claims to offer several benefits over other layer-2 solutions, such as:
- Compatibility with any Ethereum smart contract, without requiring any code changes or special tools.
- Low gas fees and fast confirmation times, thanks to the reduced congestion on the main chain.
- High scalability and throughput, as Arbitrum can process thousands of transactions per second.
- Flexible and customizable security parameters, as users can choose their preferred level of trust and finality.
- Decentralized and permissionless operation, as anyone can deploy and use Arbitrum chains without relying on intermediaries or gatekeepers.
What is the ARB token?
The ARB token is the native governance token of the Arbitrum protocol. It will be used to:
- Participate in the Arbitrum DAO, which will have the power to upgrade the protocol, allocate funds, and elect a Security Council that can perform emergency actions.
- Delegate voting power to other users or DAOs that are involved in governance.
- Pay for fees and services on the Arbitrum platform, such as gas fees, bridge fees, sequencer fees, etc.
- Incentivize network security and adoption, as validators, sequencers, bridge operators, developers, and users will be rewarded with ARB tokens for their contributions.
The initial supply cap of ARB tokens is 10 billion, with a maximum inflation rate of 2% per year. The initial token allocation is as follows:
- 42.78% for the Arbitrum DAO treasury
- 26.94% for Offchain Labs team and future team + advisors
- 17.53% for Offchain Labs investors
- 11.62% for users of the Arbitrum platform (via airdrop)
- 1.13% for DAOs building apps on Arbitrum (via airdrop)
How to check your eligibility for the Arbitrum airdrop?
The Arbitrum airdrop will take place on March 23rd, 2023, when the Ethereum chain reaches block 16890400. It will distribute 11.62% of the total supply of ARB tokens to eligible users and 1.13% to eligible DAOs.
To be eligible for the user airdrop, you need to have scored at least three points based on your activity on Arbitrum One (the mainnet version of Arbitrum) or Arbitrum Nova (the testnet version of Arbitrum) before February 6th, 2023 (the snapshot date). Points could be earned by performing various actions, such as bridging funds, conducting transactions, depositing liquidity, etc. The more points you have, the more tokens you can claim.
How to claim your ARB tokens from the Arbitrum airdrop?
If you are eligible for the Arbitrum airdrop, you can claim your ARB tokens by following these simple steps:
- Visit the Arbitrum airdrop claim page and connect your wallet. You can use any Web3 wallet that supports Arbitrum, such as MetaMask, Trust Wallet, imToken, etc.
- Click on “Check Eligibility” to see how many points and tokens you have earned. You can also see the list of actions that contributed to your score.
- If you are eligible, click on “Start claiming” to proceed. You will need to pay a gas fee on Ethereum to claim your tokens.
- Select a delegate or delegate to yourself. A delegate is a user who will represent your voting power in the Arbitrum DAO. You can choose any delegate from the list or enter an address manually. You can also delegate to yourself if you want to participate in governance directly. You can change your delegate at any time.
- Confirm the transaction and wait for it to be processed. Once it is done, you will receive your ARB tokens in your wallet.
Congratulations! 🎉 You have successfully claimed your free ARB tokens from the Arbitrum airdrop. You can now use them to vote on protocol upgrades, pay for fees, or trade them on exchanges that support Arbitrum.
What are some other sources of information about Arbitrum and the airdrop?
If you want to learn more about Arbitrum and the airdrop, you can check out these sources:
- The official documentation of Arbitrum, where you can find detailed information about the protocol, the token, the DAO, and the airdrop.
- The official blog of Offchain Labs, the team behind Arbitrum, where you can find updates, announcements, and tutorials.
- The official Twitter account of Arbitrum, where you can follow the latest news and developments.
- The official Discord server of Arbitrum, where you can join the community and chat with other users and developers.
- The official subreddit of Arbitrum, where you can discuss and share anything related to Arbitrum.