With more than 25M+ users, Trust Wallet is the most secure crypto wallet you can find in today’s market. Since optimistic rollups do not perform any computation by default, it offers massive improvements in scalability. On the downside, potential fraud challenges of optimistic rollups could lead to delays in transactions, since progress comes to a halt until it the dispute is resolved.
Arbitrum Is an Exciting Ethereum Project
Another risk is the upgradability of Arbiturm’s smart contract, as seen with Jump Crypto’s counter-exploit of the Wormhole hacker last month. A smart contract is considered to be most secure if it can not be upgraded, which is not the case for both Arbitrum and Optimism. State validation refers to the proofs used or how the network decides which transactions (network state) are valid. ARB holders will vote on all aspects of the protocol including upgrades, inflation adjustments, as well as capital allocations (including grants). According to Blockworks Research, ARB will allow for decentralized governance over the Arbitrum protocol, similar to Optimism’s OP token. Since its inception, Arbitrum has been operating without a token.
- The main objective of an airdrop is to create awareness of the new token, to boost circulation, and to decentralize the token holders.
- But for Arbitrum, it has its own virtual machine called Arbitrum Virtual Machine (AVM).
- If you are eligible, you can follow the steps below to claim your Arbitrum airdrop.
- It aims to reduce Ethereum’s network congestion and transaction costs.
$ARB Airdrop Eligibility: How to claim Arbitrum $ARB token airdrop
The Arbitrum Foundation declared the lexatrade review release of its latest digital asset, the ARB token, on Mar 16, 2023, marking the shift to a decentralized autonomous organization (DAO). 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 Arbitrum airdrop was a significant event that rewarded early adopters of the Arbitrum One and Arbitrum Nova networks. The criteria for eligibility were focused on various actions taken by users on these networks, and the airdrop token allocation was determined based on the number of points earned.
User airdrop eligibility details
Rolling up makes Arbitrum faster and cheaper to use, with all transaction data being relayed back to the Ethereum blockchain. The layer 2 protocol can process 40,000 transactions per second, while Ethereum can manage only roughly 14 transactions per second. Transactions on Ethereum cost several dollars to complete, while the same costs approximately two cents on the Arbitrum blockchain. Arbitrum is a layer 2 blockchain scaling solution built on top of the Ethereum blockchain.
On the high end of the spectrum, just over 4,400 addresses will be eligible to claim the maximum amount at 10,250 ARB tokens. The first thing to do to participate in Arbitrum Airdrop is to visit the Arbitrum airdrop page, where you can connect your wallet with the Connect Wallet option. The connected wallet allows you to collect the airdrop tokens and carry out other activities and transactions on the platform. To check your eligibility, go to arbitrum.foundation and connect your wallet.
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. You will automatically be asked to confirm the connection on your Trust Wallet app to check your airdrop availability. For purposes of this guide, we will connect to Trust Wallet on mobile using WalletConnect. The remaining 4.447 billion tokens will be subjected to a four-year lockup, with the first unlock occurring one year after the upcoming airdrop, on 23 March 2024. Subsequent unlocks will take place monthly, with the final unlock on 23 March 2027.
TON isn’t the only blockchain to go offline for hours at a time. Although enabling fraud proofs is much better than having none at all — as in the case of Arbitrum’s competitor Optimism — it would be more ideal to have permissionless proofs. An eligible candidate for the council must be a member of the DAO and receive support from 0.2% of votable tokens. Chosen members will receive a $5,000 stipend in the form of ARB tokens. A security council will also be established to make swift decisions when a normal governance process may be too slow. Following Arbitrum’s Nitro upgrade, there has been an uptick in transactions on-chain, recently overtaking Ethereum in daily transactions.
“In Arbitrum’s case, they have fraud proofs enabled, but only by whitelisted validators and used interactive proofs which take many transactions to solve,” Blockworks Research said. While the ARB token airdrop is only a matter of hours away, it’s still important that you do your own research (DYOR) on this and other kinds of airdrops. DYOR will not only help to protect you from scammers but it can also help you to make better financial decisions. Simply put, Arbitrum seeks to expand Ethereum’s smart contracts capability by improving its scalability and speed while still offering auxiliary privacy features. The remaining 44% will be given to Offchain Labs’ investors and employees, who developed Arbitrum.
We’ve covered Arbitrum extensively in the past, and if you have been following our guides, you would have benefitted from the airdrop. The value can range from US$50 to US$10,000 depending on how extensive your interactions within the Arbitrum ecosystem was.
Arbitrum, a popular Ethereum layer-2 protocol, is set to issue its own native token to eligible community members – scheduled for an airdrop on March 23, 2023. With the launch of the ARB token, Arbitrum will officially transition into a decentralized autonomous organization (DAO). As described earlier, points scored before and after Arbitrum Nitro was deployed on Arbitrum One mainnet were weighted differently. If an address only became fully eligible (minimum of three points) post-nitro, all points scored counted as post-nitro points.
However, this will soon change as Arbitrum will airdrop its new and long-awaited native token, ARB, on March 23, 2023. Here’s a breakdown of everything you need to know about Arbitrum and its airdrop in case you want to participate. And if you are looking to participate, you can easily check your eligibility using Trust Wallet.
ARB holders can vote on key decisions that will govern Arbitrum One and Arbitrum Nova with the introduction of the ARB token. This article will try to introduce the details of Arbitrum airdrop eligibility and how to claim it. Arbitrum is an optimistic rollup scaling solution on Ethereum. Scaling solutions are designed to ease congestion and prices of gas fees on the Ethereum network. The Arbitrum airdrop is a strategy that Arbitrum will use to distribute its ARB tokens to its users. This will help Arbitrum officially launch its native token and spearhead its circulation to early adopters.
Arbitrum ($ARB) Token Airdrop: Arbitrum Odyssey how to guide
The fact that points earned before the launch of Arbitrum Nitro were worth twice as much as points earned after added an extra incentive for early adopters to participate. Although Arbitrum delayed launching its governance token, most people are still looking forward to theArbitrum Airdrop. The Arbitrum Foundation and Offchain Labs worked with Nansen, a crypto analytics firm, over a couple of months to develop eligibility criteria for the ARB token airdrop. Some factors they looked at included how long a user had been using Arbitrum One and Arbitrum Nitro, how many transactions they did, and the various applications they utilized.