Arbitrum launches airdrop, understand the specific rules in one article

Author: Qin Xiaofeng, ODAILY Planet Daily

Tonight, the Layer 2 scaling solution Arbitrum announced that it will airdrop governance tokens ARB to its community members on March 23. The query link has been published: https://arbitrum.foundation/.

According to the Arbitrum Foundation, ARB will mark Arbitrum's official transition to a Decentralized Autonomous Organization (DAO), meaning that ARB holders will be able to vote on key decisions regarding the management of Arbitrum One and Arbitrum Nova. "The Arbitrum DAO will have the authority to control key decisions at the core protocol level, from how the chain's technology is upgraded to how the chain's revenue is used to support the ecosystem."

It is understood that Arbitrum collaborated with the crypto analytics company Nansen to take a "snapshot" of user activity in February this year to determine who should be eligible for ARB tokens, with the specific amount depending on several factors:

• Cross-chain to Arbitrum: 1) You have transferred funds to Arbitrum One; 2) You have transferred funds to Arbitrum Nova;

• Transactions over different time periods: 1) You have transacted in two different months; 2) You have transacted in six different months; 3) You have transacted in nine different months;

• Transaction frequency and interaction: 1) You have made more than 4 transactions or interacted with more than 4 smart contracts; 2) You have made more than 10 transactions or interacted with more than 10 smart contracts; 3) You have made more than 25 transactions or interacted with more than 25 smart contracts; 4) You have made more than 100 transactions or interacted with more than 100 smart contracts;

• Transaction value: 1) The total value of your transactions exceeds $10,000; 2) The total value of your transactions exceeds $50,000; 3) The total value of your transactions exceeds $250,000;

• Providing liquidity: 1) You have deposited more than $10,000 in liquidity; 2) You have deposited more than $50,000 in liquidity; 3) You have deposited more than $250,000 in liquidity;

• Arbitrum Nova activity: 1) You have made more than 3 transactions; 2) You have made more than 5 transactions; 3) You have made more than 10 transactions.

Each item is worth 1 point, and the points system is used to determine the number of tokens airdrop recipients can claim. The point criteria mainly focus on Arbitrum One; however, a small portion of the criteria applies to activities on Arbitrum Nova. Points earned on Arbitrum Nova can bring users up to 4 points, or an additional point if they have already earned 4 points or more on Arbitrum One. Each qualifying action performed before the snapshot date can earn a maximum of one point. The point cap is 15 points. Additionally, since the criteria and design of the entire airdrop are aimed at rewarding early adopters, points earned (at least three) before the launch of Arbitrum Nitro on the Arbitrum One mainnet are worth double the points earned afterward. Arbitrum Nitro launched on the Arbitrum One mainnet at block number #22207817. The number of tokens received for different points is as follows:

In addition, to prevent bots from exploiting the airdrop, some anti-sybil rules have been established: if the airdrop recipient's wallet transactions all occur within 48 hours, 1 point will be deducted; if the airdrop recipient's wallet balance is less than 0.005 ETH and the wallet has not interacted with more than one smart contract, 1 point will be deducted; if the airdrop recipient's wallet address is identified as a sybil address during the Hop protocol bounty program, that recipient will be disqualified.

It is understood that the total issuance of ARB will reach 10 billion. The Arbitrum community will receive 56%—the airdrop will provide 11.5% of the total supply to eligible Arbitrum users, 1.1% to DAOs operating within the Arbitrum ecosystem, and the remaining community tokens will go into a treasury controlled by the new Arbitrum DAO, allowing ARB holders to vote on how to allocate funds.

The remaining 44% of ARB circulation will go to the team and investors of Offchain Labs, the company that built Arbitrum, which is slightly higher than its competitor Optimism (Note: Optimism allocates 36% of its tokens to investors and core contributors). CEO Goldfeder stated that the team's tokens will be locked.

Data shows that the current locked value on the Arbitrum One network is $3.69 billion, with a Layer 2 market share of nearly 55%, ranking first.