The Arbitrum team will airdrop new tokens to the community and transition to a decentralized autonomous organization.

Key Highlights :

1. Arbitrum, the biggest player in Ethereum's layer 2 scaling landscape, is finally getting a token.

2. The token, ARB, will mark Arbitrum's official transition into a decentralized autonomous organization (DAO).

3. ARB holders will be able to vote on key decisions governing Arbitrum One and Arbitrum Nova – networks that allow users to transact on the Ethereum blockchain with greater speeds and lower fees.

4. Although the Arbitrum Foundation plans to grant a relatively high number of tokens to investors and core contributors (44%), Arbitrum's creator – Offchain Labs – boasts that the ARB token will make the Arbitrum ecosystem more decentralized than alternative scaling chains.

5. ARB's total circulation will number 10 billion. 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.

6. According to Goldfeder, these tokens will be subject to lock-up periods and vesting schedules, though the proportion of ARB reserved for insiders is somewhat high in comparison to similar projects.

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.

Continue Reading at Source : coindesk