Arbitrum, a Layer-2 ecosystem, has recently announced the allocation of a reward to various DAO projects on its platform. The announcement was made on the company’s blog post, where they stated that it was crucial to distribute governance rights through tokens to more entities. As a result, the Layer-2 ecosystem decided to allocate a significant airdrop to DAO organizations that meet the requirements.
The total number of tokens allocated is nearly 113 million ARB, which is equivalent to 1.13% of the total supply. “DAO projects on Arbitrum with a Treasury reserve will be eligible to receive the airdrop in this allocation round. The only exception to this rule is the Protocol Guild, a team consisting of many core developers and contributors who built on Ethereum.”
Arbitrum clarified that this airdrop does not equate to a grant, so it is certain that there will be a future allocation under the grant category. This allocation will help projects in the ecosystem have enough funds to participate in network development. The top 10 projects that received the most airdrop include familiar names such as Treasure, GMX, Sushiswap, and Curve. To learn more about notable projects in the Arbitrum ecosystem, readers can click on the article link below.
Arbitrum DAO Airdrop list: https://t.co/LRYXsvuNZm pic.twitter.com/nXpfgMArGl
— AZCoin News (@azcoinnews) March 21, 2023
The process of allocating more tokens to projects is essential for Arbitrum to promote development and retain users, especially after on-chain data continuously records that funds are moving towards ecosystems without tokens to “hunt airdrops.”
Previously, on March 16th, Arbitrum launched the ARB token and allocated 11.62% of the total supply to users who had tested the product early on. The allocation of tokens to DAOs is another significant step in building a robust ecosystem and promoting network development.
Read more:
- Why Are Many People Not Receiving Arbitrum’s Airdrop?
- Arbitrum Airdrop Qualifies For More Than 625,000 Addresses, Sparks Record High L2 Transactions Surpassing ETH By 148%
- Arbitrum IOU Listed At $10 USD
- Token Unlock Sparks Queries On Arbitrum’s Token Supply And Market Influence, ARB Being Sold Around $1 Via OTC