Get Ready for Arbitrum One Airdrop: Here's What You Need to Know

What is Abitrum.

Abitrum One is a layer 2 solution that aims to scale Ethereum while lowering the cost of using the chain. A layer 2 is a chain built and dependent on its layer 1 chain. In this case Ethereum. Transactions on Arbitrum cost less and confirm faster while inheriting the security of Ethereum.

This is made possible by a technology called optimistic rollup. Optimistic rollups move transactions off-chain where the transactions are bundled up and compressed before being submitted to Ethereum, where they become immutable. This process saves gas fees and stores only the necessary data on Ethereum which also saves block space! Arbitrum is the second largest Ethereum layer 2 protocol, after polygon and the ecosystem is bustling with life.

Arbitrum is giving Airdrops on 23rd March 2023. The token will be called $ARB.There is however a criteria to see if you qualify.

• Bridged some tokens to Arbitrum.

• Transacted on the blockchain over time. (using DEXs such as Apex). The more you have conducted transactions, the more the airdrop.

• Activity on Arbitrum nova. Most people have not played with Nova.

What if you are just learning about the airdrop today. You still can take the opportunity.

• Buying Tokens on the ecosystem. This includes Optimism, Arb, GMX.

• You can also buy nfts to increase your activity on the chain.

Key details of the Arbitrum airdrop

Firstly, the governance token will be specific to the Arbitrum One network and will be used to govern other endorsed Layer 2 networks, such as Arbitrum Nova. The airdrop criteria were designed in collaboration with Nansen to reward genuine users who bridged to the network and made regular transactions, rather than those who tried to game the system. The snapshot for the airdrop was taken on February 6 and allocations will not be changed, even if further attempts to game the system are discovered.

In terms of distribution, 11.6% of the total token supply will be given to Arbitrum users, with 1.1% allocated to DAOs in the ecosystem and Protocol Guild, a DAO consisting of Ethereum developers. The majority of the supply, 42.8%, will go to the newly formed Arbitrum DAO, which will be controlled by the Arbitrum Foundation. DAOs will receive tokens based on factors such as the total value locked in the protocol and how long they have been on Arbitrum, and they are expected to distribute these tokens to their users.

Offchain Labs and its advisors will receive 27% of the token supply, while Offchain Labs investors will receive 17.5%. The total supply of tokens is 10 billion.

For now bye. Till the next blog post.