This detailed, step-by-step guide will help you understand the Arbitrum (ARB) token airdrop, which will occur on March 23.
After the successful airdrop of Optimism’s OP token, the Arbitrum (ARB) airdrop is without a doubt one of the most eagerly awaited events to occur in the cryptocurrency industry. The airdrop has a total budget of 1.162 billion ARB, and claims can be made starting on March 23rd. Here is a thorough explanation of how to check your eligibility and ultimately receive the ARB token.
Arbitrum Airdrop Eligibility Screening
The snapshot for the Genesis airdrop was already taken on February 6, according to the Arbitrum Foundation, and no additional snapshots would be taken. You are most likely eligible for the airdrop if you have engaged with the Arbitrum network on or before that date.
Visit the official airdrop page for Arbitrum and connect the cryptocurrency wallet you used to sign up for the network to begin the verification process. Using a brand-new wallet won’t work because it won’t be included in the snapshot. Click “Check Eligibility” once your wallet is connected.
Quantity Of Claimable ARB Tokens
If you are qualified, it will show how many tokens you will obtain once the claim is live. A fixed number of tokens will be issued to each user based on a point system developed by the Arbitrum team. A user must have at least three points to be eligible, and the maximum number of points is 15. A single address may only get a total of 10,200 tokens.
On March 23, when the system goes live, you will be able to claim the number of tokens indicated.
Actions Required Grab Points
When determining how many points will be given to a specific user, Arbitrum takes into account a number of variables, some of which are:
- Money bridged into Arbitrum One
- More than four transactions were completed, or more than four separate smart contracts were contacted.
- Completed deals with a value greater than $10,000 overall
- More than $50,000 in liquid assets were placed in Arbitrum.
- Funds bridged into Arbitrum Nova
- More than three transactions on Arbitrum Nova were completed.
Utility of Arbitrum (ARB) Token ARB
Utility of Arbitrum (ARB) Token ARB, On the other hand, the formal statement made it abundantly clear that the ARB token will not be used to cover network transaction fees.
Listing Of The ARB Token On Exchange
There was no mention in the formal announcement of which cryptocurrency exchanges would list the ARB token. Yet it stands to reason that significant trading venues like KuCoin, Coinbase, Kraken, Binance Exchange, and others will swiftly list the token as soon as it becomes available. Other Layer-2 scaling solution tokens, like Optimism’s OP token, which is currently trading on a number of different reputable platforms, have shown the same behaviour.