Technical Difficulties Aren’t Stopping Users From Claiming Arbitrum Airdrop
More than half of unique wallets have already claimed their ARB
CryptoFX/Shutterstock modified by Blockworks
Ethereum layer-2 scaling solution Arbitrum has officially launched its governance token airdrop.
Immediately following the airdrop token claim event, Arbitrum’s front end was forced to shut.
Almost 85,000 users had signed onto the webpage in a 30-minute window, Arbiscan, its blockchain scanner, said in a tweet.
Previously governed by New York-based Offchain Labs, the ARB token is designed for Arbitrum to decentralize its governance.
The Airdrop will allocate 12.75% of ARB’s total supply to users and DAOs building on the network.
Roughly 11.6% of the supply goes to users at a present value of $1.56 billion and 1.1% of the supply goes to DAOs, currently valued at $151 million, Blockworks Research data shows.
At the time of writing, over half of eligible users have claimed their airdrop — equating to roughly 330,000 unique addresses.
Of the remaining ARB tokens, 43% will go to the DAO treasury — managed by the community, while 27% will be allocated to Offchain Labs. And 17.5% will be given to investors of the New York-based startup.
Eligible airdrop recipients will have six more months to claim their airdrops.
The company warned users to only use the official website to avoid potential copycat scams. “This is the safest way to claim, and you’ll be able to vote for your favorite ecosystem delegate.”
Get the day’s top crypto news and insights delivered to your email every evening. Subscribe to Blockworks’ free newsletter now.
Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief.
Can’t wait? Get our news the fastest way possible. Join us on Telegram and follow us on Google News.
