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How to claim the $ARB airdrop？ imToken Ethereum Wallet, Bitcoin Wallet Help Center
Moreover, to address potential delays due to fraud challenges, the AVM uses pipelining to process multiple disputes, while verification nodes help speed up the process. To claim your ARB tokens, you’ll need a wallet that’s compatible with the Ethereum network. While Newton isn’t affiliated with or endorses any particular wallets, there are many examples of such wallets including MetaMask, MyEtherWallet, and Trust Wallet. To ensure your eligibility to claim the airdrop, please connect the same wallet that you regularly use to interact with the Arbitrum network.
The event, which incentivizes users and potential users to use a platform or token, aims to help the token get adopted early. Optimistic rollups assume all transactions as valid, hence an “optimistic” outlook. There is a time period during which users can dispute any suspicious transactions contained in a bundle. If a fraudulent transaction is detected, a fraud proof is executed which basically runs the correct transaction computation using the data on the main chain.
Token allocation & airdrop distribution
The main objective of an airdrop is to create awareness of the new token, to boost circulation, and to decentralize the token holders. The number of tokens you receive from the ARB airdrop will depend on your eligibility score, based on the number of criteria you meet. If you have fewer than three points, you won’t be eligible to earn any amount from the airdrop. Depending on the number of points users have, they can earn between 621 ARB and 10,250 ARB, the maximum number of tokens that can be allocated to a wallet.
As the days count down to the airdrop, users have also begun speculating on the opening price of the ARB token. Mark your calendar for March 23, 2023, as the Arbitrum token airdrop goes live. 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. 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.
Step 4: Claim Your Tokens!
In addition, 1.1% will be allocated to the DAOs that manage why is profit margin ratio important the Arbitrum ecosystem. The rest of the tokens will go to a treasury that the Arbitrum DAO will manage. A further 44% of ARB’s circulation will go to the employees and investors of Offchain Labs who first developed Arbitrum.
Arbitrum Airdrop Guide — How to Get Arbitrum Airdrop?
Thus, the minimum airdrop entitlement is 625 tokens, half of the minimum entitlement in the table above; the maximum airdrop entitlement is tokens. This distribution to protocols sought to create a more diverse base of ARB token holders to further decentralize the chain across the team, investors and individual users. Moreover, as protocols directly build on the chain, protocols could propose changes from the perspective of builders to the benefit of all users of Arbitrum. Many crypto projects use airdrops to attract new users and increase token awareness. Free cryptocurrencies are shared with eligible users during airdrops based on certain criteria.
These tokens will be subject to lock-up periods and vesting schedules. Notably, the proportion of ARB reserved for insiders is higher compared to similar projects, such as Optimism, which allocated 36% of its OP tokens to investors and core contributors. The team has since then expanded to a global community of developers, academics and operators, with deep experience in cryptography, decentralized systems, and game theory. 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.
This helps to reduce gas prices while retaining secure transactions and relieving network latency. Arbitrum is an Ethereum layer-2 scaling solution created to improve the scalability and performance of the Ethereum smart contract. The network has been under the sole authority of Offchain Lab since its introduction in August 2021. However, introducing the ARB governance token will end the centralized control and make it community governed. Arbitrum’s layer-2 network allows developers to build and deploy highly scalable smart contracts at low cost, while benefitting from Ethereum’s robust layer-one security.
The company originated from the computer science research department of Princeton University, co-founded in 2018 by Harry Kalodner, Steven Goldfeder, and Ed Felten. 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. If you are already connected to the Arbitrum One Network, you may skip this step.
- ARB will have a total circulating supply of 10 billion tokens.
- The Arbitrum Foundation and DAO will dispense the remaining community-owned tokens gradually.
- This will help Arbitrum officially launch its native token and spearhead its circulation to early adopters.
- The remaining 4.447 billion tokens will be subjected to a four-year lockup, with the first unlock occurring one year after the upcoming airdrop, on 23 March 2024.
- Arbitrum is an optimistic rollup scaling solution on Ethereum.
To qualify for the airdrop, you need to have interacted with the Ethereum network before Feb 6, 2023 (check the official announcement for more details). Almost 12% of the total airdrop supply will be distributed to Arbitrum users and a tad over 1% of will be given to DAOs building on top of the network. 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.
Since its launch last year, the Arbitrum ecosystem has greatly expanded, ranking 6th in all chains total value locked with 129 integrated protocols. But for Arbitrum, it has its own virtual machine called Arbitrum Virtual Machine (AVM). Arbitrum teamed up with Nansen, a crypto analytics firm, to establish ARB token eligibility based on the level of user activity. According to the official announcement from Arbitrum, Arbitrum is using a points system to determine the number of ARB tokens that airdrop recipients can claim. ARB will have a total circulating supply of 10 billion tokens. The Arbitrum community will have control of 56% of the 10 billion tokens, while 11.5% will be airdropped to eligible Arbitrum users.
$ARB will solely function as a governance tool for the Arbitrum protocol, unlike ETH which is used to pay fees on both Ethereum and Arbitrum. The governance process of Arbitrum DAO will be autonomous, allowing votes to directly modify the core code of Arbitrum. Check out our LayerZero Airdrop Guide for another highly anticipated token airdrop. Click “CONNECT WALLET” – “WalletConnect” – “imToken” and approve the DApp to connect to your wallet. Then click “CHECK ELIGIBILITY” to check the number of your claimable $ARB. Avoid giving out your private keys or personal information to anyone claiming to help you claim the airdrop.
Points criteria was focused primarily on Arbitrum One; however, there was a small subset of criteria applied to activity on Arbitrum Nova. 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. Unfortunately, when a crypto airdrop receives this much hype, it doesn’t take long for the crypto scammers to begin circling. Of the 10 billion ARB units intended to be its maximum supply, Arbitrum will airdrop 11.62% to its early adopters and 1.13% to the developers using Arbitrum for building apps. As with many crypto airdrops, Arbitrum aims to reward its early users, since only those who have interacted with the ecosystem to a specified extent up until February 16, 2023, can benefit from it.
It aims to reduce Ethereum’s network congestion and transaction costs. Arbitrum does this by offloading computation and data storage from the main chain. It focuses on a particular point of disagreement over transaction history. Additionally, layer-2 transactions are not entirely executed on the main chain, rendering gas block limits irrelevant. Arbitrum’s AVM greatly improves optimistic rollups because it stores very little data on-chain for optimal scalability.
