Arbitrum DAO Goes Live with Massive Airdrop

The long-anticipated Arbitrum token $ARB has finally gone live after a massive airdrop that saw investors claiming as much as $1.7 billion. Activity swelled on the Arbitrum blockchain, exceeding Ethereum’s all-time high as users swarmed the website to collect their tokens and join the DAO. 

We understand there has been difficulty connecting to the foundation site and claiming tokens.

These issues are now resolved, and claiming is well underway.

We greatly appreciate everyone's patience throughout these times of exceptionally high traffic.

Please read 🧵👇 pic.twitter.com/pdIyI2bumW

— Arbitrum (💙,🧡) (@arbitrum) March 23, 2023

The new ARB token, which is currently trading at $1.30 per token and experiencing initial volatility, will grant users governance within the DAO, allowing them to propose votes; and, because the Arbitrum DAO is self-executing, successful votes will be immediately implemented through the blockchain network. 

Remember #Arbinauts, you have 6 months to claim your tokens! Gas fees will be quite high, and there will be server congestion.

— Arbitrum (💙,🧡) (@arbitrum) March 23, 2023

Selected investors will have the next 6 months to claim their tokens, but the Arbitrum team warns that early activity might be hindered by high gas fees due to the sudden rise in user activity.