Arbitrum DAO Secures 69.4 Million ARB Tokens in Treasury After AIP-7 Approval
In a recent announcement, Arbitrum DAO has successfully executed the transfer of 69,448,385 ARB tokens from the token claim contract back to the project’s treasury. This significant move was in line with the approval of AIP-7, marking a crucial development in the project’s ongoing efforts to manage its token distribution effectively.
The execution of AIP-7, a proposal within the Arbitrum governance framework, signaled a significant shift in how the project manages unclaimed tokens. The 69,448,385 ARB tokens, which had been unclaimed since the project’s airdrop in March, have officially found their way into the #ArbitrumDAO treasury.
The 69,448,385 unclaimed ARB remaining in the token claim contract has officially been moved to the #ArbitrumDAO treasury as outlined in AIP-7
You cannot claim those tokens anywhere.
Please be safe out there!💙🧡 https://t.co/sY6MmKl09h
— Arbitrum (💙,🧡) (@arbitrum) September 25, 2023
Unfortunately, those who missed claiming their tokens during the airdrop phase will no longer have an opportunity to do so. This move underscores the importance of timely token claims in the crypto space, where opportunities can vanish quickly.
At the outset of the airdrop, Arbitrum had announced plans to reward over 625,000 eligible wallets with a total allocation of 1.162 billion ARB tokens, equivalent to 11.62% of the project’s total supply of 10 billion ARB tokens.
Despite the frenzy surrounding the airdrop, data from Nansen reveals that more than 320 million ARB tokens remain unclaimed, distributed across 190,000 eligible addresses. This statistic highlights that over 30% of eligible users have yet to receive their airdrop rewards.
With the recent influx of unclaimed tokens, the Arbitrum DAO treasury now holds a substantial reserve of 3.59 billion ARB tokens. At current market rates, this stash is valued at approximately 2.92 billion USD. The strengthened treasury is expected to play a crucial role in the project’s future development and ecosystem growth.
In conclusion, while the opportunity to claim the unclaimed ARB tokens may have passed, Arbitrum DAO’s treasury now stands stronger, providing a solid foundation for the project’s future endeavors. As the crypto world marches forward, staying updated and engaged is key to making the most of the opportunities it offers.
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