- Arbitrum will launch one of the biggest airdrops on Thursday.
- ARB token will likely be a good investment because of its market share.
Arbitrum will make headlines on Thursday when it launches one of the biggest airdrops of the year. In it, the layer-1 platform, which competes with Polygon and Optimism, will transition into a DAO. As a result, it will launch the ARB airdrop, making it possible for people to buy and sell the token.
What is Arbitrum?
Arbitrum is a big deal in the cryptocurrency industry. In just a few years, Arbitrum has grown to become the fourth-biggest layer-2 smart contract platforms in the world. It has been used to build over 240 DeFi platforms that have a combined total value locked (TVL) of over $1.9 billion. In the past 30 days, the TVL in this ecosystem has jumped by 15.85%.
Arbitrum has been used to build some of the top dApps. GMX, one of the biggest DeFi platforms in the world, is one of the key dApps in the ecosystem. Recently, GMX said that it will increase its focus to Arbitrum, instead of Avalanche.
Arbitrum has also been used to build other platforms, including Uniswap, Sushi, Aave, and Curve. In the past 30 days, the TVL in the ecosystem has jumped by double-digits.
Arbitrum is also a big player in other industries like NFTs, bridges, and even gaming. In the NFT space, Arbitrum has been used by key marketplaces like Babylons NFT Marketplace, Opensea, and Trove. Reddit also uses Arbitrum for its social projects.
The platform places its TVL at over $3.7 billion. It also states that it has over 2.4 million users from around the world.
What is the ARB airdrop?
For a long time, Arbitrum has existed as a centralized platform where insiders make all the decisions. For it to scale, the developers believe that it needs to become a decentralized autonomous organization (DAO), where community members make decisions.
As a result, they have decided to transition Arbitrum int a DAO and will launch the ARB token on Thursday. Tokenholders will be able to vote for key decisions in the ecosystem.
More than 50% of all the tokens will go to the public. 26% of them will go to the team and future team members. 17% will go to investors and 42% will go to the DAO Treasury. As such, as with most blockchains, it seems like insiders will own most of the tokens.
ARB will likely be a good investment because of the strong market share in the layer-2 network. In the past, we have seen Optimism’s OP price surge close to its all-time high. Similarly, Polygon’s MATIC has become one of the top cryptocurrencies in the world.
