Arbitrum DAO takes $56M of unclaimed Arbitrum (ARB) as airdrop deadline ends

The number of unconfirmed Arbitrum (ARB) tokens represents 0.69% of the total supply of 10 billion ARB or 69.4 million tokens

Arbitrum Dao Takes $56m Of Unclaimed Arbitrum (arb) As Airdrop Deadline Ends_65b97aa4f3a0d.webp

Arbitrum, a major Layer 2 solution for the Ethereum blockchain, has officially added the unclaimed Arbitrum from the Arbitrum airdrop to its network’s treasury.

unclaimed Arbitrum
Arbitrum DAO takes $56M of unclaimed Arbitrum (ARB) as airdrop deadline ends

The Arbitrum Foundation sent 69.4 million unclaimed Arbitrum (ARB) tokens to the Arbitrum’s decentralized autonomous organization (DAO) treasury on Sept. 24, the foundation announced on X (formerly Twitter).

The foundation emphasized that Arbitrum users will no longer be able to claim ARB tokens anywhere. “Please be safe out there,” the Arbitrum Foundation added.

At the time of writing, the transferred amount of ARB is worth around $56 million. The cryptocurrency slipped 1.6% over the past 24 hours, trading at $0.81, according to data from CoinGecko.

The amount of unclaimed ARB tokens accounts for 0.69% of ARB’s total supply of 10 billion. According to data from Dune Analytics, 93% of eligible users had claimed the tokens. Eligible Arbitrum users and developers were allowed to receive up to 12.75% of the token’s supply of 10 billion, or 1.275 billion ARB.

Founded in 2021, Arbitrum is a Layer 2 Ethereum scaling solution created by Off-chain Labs. In March 2023, the Arbitrum Foundation announced the launch of Arbitrum DAO and its native governance token, ARB. Airdropped on March 23, ARB is the ERC-20 governance token allowing holders to participate in the Arbitrum DAO’s on-chain governance protocol.

The movement of the unclaimed Arbitrum tokens to the Arbitrum DAO comes six months after the DAO was created and the ARB tokens were airdropped, as originally outlined in Arbitrum Improvement Proposal 7. The recipients were able to claim their tokens until the Ethereum block 18208000, which was estimated to be created on Sept. 24.

5.0/5

(100 votes)

Latest

Azcnews Breaking Analyst Predicts When Xrp Could Surge To $17

News | Altcoin | Editor Choice

Analyst Predicts When XRP Could Surge to $17

Renowned crypto analyst Egrag Crypto has forecasted a significant rally for XRP, suggesting that its price could soar to $17. Alongside this prediction, he also provided insights into when this milestone might be reached.

Azcnews Breaking Bitcoin Sees Slight Decline Amid Bearish Signals

News | Bitcoin | Editor Choice

Bitcoin Sees Slight Decline Amid Bearish Signals

Bitcoin has dipped to $96K as the Inter-Exchange Flow Pulse signals a potential downtrend, with BTC flowing out of derivatives exchanges, raising concerns about market sentiment and macroeconomic impacts.

Azcnews Breaking Blockchain Games Triple Activity In January Dapprad

News | Editor Choice | GameFi

Blockchain Games Triple Activity in January: DappRadar

According to a recent report from blockchain analytics platform DappRadar, blockchain gaming activity in January surged three times higher than the same month in the previous year.

How To Participate In The Newton Airdrop

Editor Choice | Airdrops | News

How to Participate in the Newton Airdrop

Join the Newton airdrop hunt! The project has successfully raised $83 million from top investment funds and is allowing users to earn credits for a chance to receive future airdrops.

Azcnews Breaking Coinbase Ceo Predicts 10% Of Global Gdp Will Run On Crypto Rails By 2030

News | Altcoin | Editor Choice | Policy & Regulations

Coinbase CEO Predicts 10% of Global GDP Will Run on Crypto Rails by 2030

Coinbase CEO Brian Armstrong predicts that by 2030, up to 10% of global GDP will operate on cryptocurrency infrastructure, signaling a transformative shift in the global economy.