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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. 

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. 

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.