Arbitrum to Airdrop new token and transition to DAO
16 Mar 2023 2:50 PM
Arbitrum, the biggest player in Ethereum’s layer 2 scaling landscape, is finally getting a token. The Arbitrum Foundation said on Thursday that ARB, A...
- Arbitrum, the biggest player in Ethereum’s layer 2 scaling landscape, is getting a token called ARB.
- ARB will mark Arbitrum’s official transition into a decentralized autonomous organization (DAO).
- ARB holders will be able to vote on key decisions governing Arbitrum One and Arbitrum Nova.
- ARB’s total circulation will number 10 billion.
- The other 44% of ARB’s circulation will go to the investors and employees of Offchain Labs.
- Unlike ether (ETH), which is used to pay out fees on Ethereum (and Arbitrum), the ARB token will only be used for protocol governance.
- ARB’s introduction has been timed to coincide with the launch of Arbitrum Obit.
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The article has a positive sentiment as it talks about the launch of a new token for Arbitrum, which will make the ecosystem more decentralized and allow ARB holders to vote on key decisions governing Arbitrum One and Arbitrum Nova.
What is ARB and what is its purpose?
How will ARB holders be able to vote on key decisions governing Arbitrum One and Arbitrum Nova?
What is the total circulation of ARB and who will control it?
What is the difference between ARB and ether (ETH)?
Why was ARB's introduction timed to coincide with the launch of Arbitrum Obit?