It focuses on a particular point of disagreement over transaction history. Additionally, layer-2 transactions are not entirely executed on the main chain, rendering gas block limits irrelevant. Arbitrum’s AVM greatly improves optimistic rollups because it stores very little data on-chain for optimal scalability. Moreover, to address potential delays due to fraud challenges, the AVM uses pipelining to process multiple disputes, while verification nodes help speed up the process.
The initial step is to pinpoint your Arbitrum wallet address and confirm that it aligns with the address employed during the eligibility period. The Arbitrum Foundation aimed to involve numerous authentic users in the airdrop, but inevitably, some recent or sporadic users didn’t make the cut. To differentiate between newcomers and airdrop farmers, a points system was employed to determine token eligibility. If you’re eligible, you should be able to follow the onscreen instructions and click claim, and the tokens will be deposited into your wallet.
Tips for Maximizing Potential Rewards
Still, the number of new wallets interacting with the network declined over time, suggesting that much of the initial interest was driven by the token distribution itself. While it brought many users, most of them were likely motivated by short-term financial gains. Retention rates declined after the giveaway period, falling below pre-airdrop levels.
But for Arbitrum, it has its own virtual machine called Arbitrum Virtual Machine (AVM). As Arbitrum airdrop its token, it’s important that you tread with caution while claiming your ARB tokens to avoid falling prey to ARB airdrop scams. It’s not uncommon for scammers to use airdrops to phish users through spoof websites as well as other schemes.
- Arbitrum has refrained from revealing the full list of airdrop recipients.
- Let’s understand how Arbitrum works and its different networks to further gauge the importance of the ARB token airdrop.
- This approach ensured that tokens were allocated to those who actively interacted with the blockchain, rather than being distributed at random.
- Once received, the rewards could be withdrawn or staked, depending on user preference.
As part of their efforts to promote adoption and grow their community, Arbitrum has announced an airdrop of free ARB tokens to users who meet certain criteria. In this article, we will discuss when the airdrop is happening and how you can claim your free ARB tokens. Approximately 625,100 wallets qualified for getting the crypto airdrop. The number of tokens received depended on the cryptocurrency wallet guide for beginners 2021 Arbitrum airdrop tiers, with some users receiving the minimum 625 ARB, while highly engaged ones received more.
Even though many participated, some failed to claim their allocation before the deadline. Many later wondered, “Can I still get Arbitrum airdrops?” but after September 24, 2023, any unclaimed rewards were returned to the Arbitrum DAO treasury. To be eligible for Arbitrum’s airdrop of free ARB tokens, users must meet certain criteria. These criteria may include holding a minimum amount of ETH in their wallet, using Arbitrum’s Layer 2 solution for transactions, or being an active member of the Arbitrum beginner’s guide to buying and selling cryptocurrency community.
What is an Optimistic Rollup?
Airdrops are a common method for projects to distribute tokens to their communities, often as a reward for early support or engagement. In the case of the Arbitrum airdrop, 11.5% of the total supply of ARB tokens in circulation will be distributed. As you prepare for the Arbitrum airdrop, it’s essential to look ahead and consider the crucial steps to take after the event. Here are several factors to consider to ensure you make the most of your newly acquired tokens. If you haven’t already, this is where you will need to add the Arbitrum One network to your web3 wallet.
Is this campaign guaranteed to qualify for future airdrops?
Arbitrum is a Layer 2 scaling solution for Ethereum that helps reduce transaction fees and improve speed without compromising on security. The remaining 44% will be given to Offchain Labs’ investors and employees, who developed Arbitrum. These tokens will be subject to lock-up periods and vesting schedules. Notably, the proportion of ARB reserved for insiders is higher compared to similar projects, such as Optimism, which allocated 36% of its OP tokens to investors and core contributors. $ARB will solely function as a governance tool for the Arbitrum protocol, unlike ETH which is used to pay fees on both Ethereum and Arbitrum. The governance process of Arbitrum DAO will be autonomous, allowing votes to directly modify the core code of Arbitrum.
It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period. Next, once you are successfully connected, go back to the Arbitrum Foundation’s website and click on ‘Check Eligibility’ to confirm if you are eligible for the ARB airdrop. Go to your Trust Wallet, click on ‘Settings’ then ‘WalletConnect’, and scan the QR code.
As a consequence, claimants routing transactions through Infura could experience delays or transaction failures. The main objective of an airdrop is to create awareness of the new token, to boost circulation, and to decentralize the token holders. Arbitrum can also support the execution of smart contracts, making it a versatile scaling solution for the Ethereum network. Using Arbitrum, developers can create more complex and feature-rich decentralized applications (dApps).
Step 3: Check Your Eligibility
According to the Arbitrum Foundation, the snapshot for the genesis airdrop has already been taken on February 6 and no further snapshots will be taken. So, if you have interacted with the Arbitrum network on or before that, you are most probably eligible for the airdrop. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop.
The first will confirm the number of tokens you are receiving and the delegator you have chosen. Scroll to the bottom of the page, and you will be prompted to “Claim and Delegate Your tokens“. One way to avoid being scammed is to make sure you only access Arbitrum’s airdrop through the Arbitrum Foundation, the official site for the project. If you have any question you would like to receive an answer please send us an email to email protected. Yes, the AI Atlas campaign is open to all users, regardless of participation in previous Arbitrum initiatives. Within weeks, it became one of the largest DEXs by total value locked (TVL), proving that aggressive incentives could work in a competitive landscape.
Can I still claim Arbitrum airdrops?
But the Arbitrum airdrop seems to offer more than just giveaways; it represented an important step in the decentralization of a layer-2 solution, giving its early community a voice in its future. Arbitrum’s layer-2 network allows developers to build and deploy highly scalable smart contracts at low cost, while benefitting from Ethereum’s robust layer-one security. Since its launch last year, the Arbitrum ecosystem has greatly expanded, ranking 6th in all chains total value locked with 129 integrated protocols. The Arbitrum community will have control of 56% of the 10 billion tokens, while 11.5% will be airdropped to eligible Arbitrum users. In addition, 1.1% will be allocated to the DAOs that manage the Arbitrum ecosystem. The rest of the tokens will go to a treasury that the Arbitrum DAO will manage.
- After attracting enough liquidity, SushiSwap automatically transferred over $1 billion worth of assets from Uniswap to its platform.
- This helped secure its position as the second-largest destination after Polygon.
- While the token distribution has ended, in the meantime, you can join BitDegree’s Season 7 Airdrop with a $30,000 prize pool up for grabs.
- This will help Arbitrum officially launch its native token and spearhead its circulation to early adopters.
As of now, 56% of the overall ARB token supply is owned by the Arbitrum community, with 12.75% set to be distributed via airdrop to qualified users on Mar 23, 2023. The Arbitrum Foundation and DAO will dispense the remaining community-owned tokens gradually. Meanwhile, 44% of the total token supply will be allotted to investors and essential contributors.
The connected wallet allows you to collect the airdrop tokens and carry out other activities and transactions on the platform. Visit following an investigation quadrigacx ceo found guilty of misappropriation of his clients’ funds the official Arbitrum website to determine your airdrop eligibility. Input your wallet address into the tool, and you will receive a confirmation regarding your eligibility status.
It aims to reduce Ethereum’s network congestion and transaction costs. Arbitrum does this by offloading computation and data storage from the main chain. Once the airdrop date has been announced, Arbitrum will provide instructions on how to claim your free ARB tokens. This may involve signing a message with your wallet address, participating in a specific transaction, or completing a form on their website. Follow the instructions carefully to ensure that you receive your tokens. You can verify your eligibility on the official website linked above.