Is arbitrum getting a token?

Arbitrum, the biggest player in Ethereum’s layer 2 scaling landscape, is finally getting a token. The Arbitrum Foundation said on Thursday that ARB, Arbritrum’s new token, will be airdropped to community members on Thursday, March 23.

What is arbitrum & how does it work?

What is Arbitrum? Arbitrum is an Ethereum Layer 2 blockchain, built using optimistic rollup technology. Arbitrum aims to scale Ethereum, allowing users to avoid the high transaction fees that Ethereum is notorious for, while leveraging on the security of Ethereum’s battle-tested network.

Who controls arbitrum tokens?

The Arbitrum community will control 56% of those tokens – the airdrop will grant 11.5% of the total supply to eligible Arbitrum users, and 1.1% to DAOs that operate in the Arbitrum ecosystem. The remaining community tokens will go to a treasury controlled by the new Arbitrum DAO, which will allow ARB holders to vote on how to disburse the funds.