Arbitrum Foundation announced that the ARB token will be distributed to its community members on Thursday, March 23. The ARB token represents the official transformation of Arbitrum into an independent decentralized organization (DAO), which means that its holders can participate in important decisions of Arbitrum One and Arbitrum Nova; Networks that allow the members of this project to make their transactions at a higher speed and of course at a lower cost. Do the Ethereum blockchain.
“Arbitrum’s independent decentralized organization will provide the power to control key decisions at the core protocol level, meaning users can play a role in the way the technology improves and the way the ecosystem monetizes,” the Arbitrum Foundation said in a statement.
The Arbitrom Foundation plans to award a relatively large number of its tokens to investors and core contributors (44%), and the project’s creator, Offchain Labs, touts the replacement of the ARB token as a way to make the blockchain more decentralized.
Steven GoldfeatherCEO of Offchain Labs to CoinDesk “The most exciting part for me is decentralization and Offchain Labs will have no control over the future of this project,” he said. We will act as a service provider and if the DAO asks us to build software, we will do it.”
Arbitrom has partnered with crypto analytics company Nansen to determine eligible users to receive ARB tokens. according to Goldfeather, the number of transactions that users have made, the number of applications that they have used and the duration of using these applications are considered as prerequisites for receiving the next airdrop. Arbitrum One and Arbitrum Nitro are used to determine the eligibility of users, he says.
Arbitrum users can visit the website gov.arbitrum.foundationCheck your eligibility for the next airdrop of this project. Users are advised to be very careful when investigating this issue as scammers often use airdrop events to trick people through websites. They abuse phishing.
The total number of ARB tokens will be equal to 10 billion units. The association of this foundation will have 56% of the tokens under its control and 11.5% of them will be awarded to qualified users through airdrop. 1.1% of the tokens of this foundation will be allocated to independent decentralized organizations that operate in its ecosystem. The remaining tokens will also be kept in the treasury and its control will be in charge of the DAO arbiterium.
44% of the tokens held by Arbitrum will be awarded to investors and employees of Offchain Labs. The company’s CEO says ARB tokens will be subject to a lock-up period and vesting schedule.
Unlike Ether (ETH), which is used to pay for Ethereum and Arbitrom, ARB tokens are only intended for governance of the foundation’s protocol. The DAO Arbitrum management process will also be implemented automatically, which means that users’ votes can be used to directly change the project’s main codes.
Changing the original Arbitrum codes will take time because they need to be inspected and security considerations. Of course, a 12-person security council under the management of Arbitrum One will have the possibility to fix problems faster.
The introduction of ARB coincides with the launch of Arbitrum One; A project that allows third-party applications and protocols to create new Layer 3 projects based on Arbitrum’s low-cost infrastructure.
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