Arbitrum To Airdrop New Token
Arbitrum, the dominant player in Ethereum’s layer 2 scaling landscape, has received a token.
According to the Arbitrum Foundation, ARB, Arbritrum’s new token, will be airdropped to community members on Thursday, March 23.
According to the Arbitrum Foundation, ARB will mark Arbitrum’s official transition into a decentralised autonomous organisation (DAO), which means that 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 at faster and lower fees.
“Arbitrum DAO will have the power to control key decisions at the core protocol level, from how the chain’s technology is upgraded to how the revenue from the chain can be used to support the ecosystem,” the Arbitrum Foundation said in a statement.
(With inputs from Shikha Singh)
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