Arbitrum, the Ethereum scaling protocol, has introduced its long-awaited token and is transitioning to a DAO. The $ARB token will be 'airdropped' to eligible users next week. skesslr reports
The Arbitrum Foundation said on Thursday that ARB, Arbritrum’s new token, will be airdropped to community members on Thursday, March 23.
Although the Arbitrum Foundation plans to grant a relatively high number of tokens to investors and core contributors , Arbitrum’s creator – Offchain Labs – boasts that the ARB token will make the Arbitrum ecosystem more decentralized than alternative scaling chains. ARB’s total circulation will number 10 billion. The Arbitrum community will control 56% of those tokens – the airdrop will grant 11.5% of the total supply to eligible Arbitrum users, and 1.1% to DAOs that operate in the Arbitrum ecosystem. The remaining community tokens will go to a treasury controlled by the new Arbitrum DAO, which will allow ARB holders to vote on how to disburse the funds.
Code changes will be subject to a time delay , but a 12-person security council governed by the Arbitrum DAO will have the ability to make quicker bug fixes.
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