In mid-March last year, Ethereum (ETH) layer 2 scaling project Arbitrum (ARB) announced its long-awaited airdrop.
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Announcing that the ARB token airdrop would be held on March 23, Arbitrum stated that the airdrop would represent 12.75% of the total supply of the token.
It was stated that the deadline for airdrop requests was September 24, 2023. However, some users did not receive their ARBs despite the six-month claim period.
At this point, the Arbitrum Foundation announced that 69 million ARB (worth $57 million) that had not been requested by users to date was transferred to the Arbitrum DAO treasury.
“The remaining 69,448,385 unclaimed ARBs in the token claim contract have been officially transferred to the Arbitrum DAO treasury as stated in AIP-7.”
According to on-chain data, the Arbitrum DAO treasury currently stands at 3.6 billion ARB (worth $2.9 billion).
The data also shows that unclaimed ARB represents 0.69% of the total supply of 10 billion, with 93% of users claiming ARB tokens they are entitled to as a result of the airdrop.
ARB, which was listed on Binance on March 23, 2023 and later rose to $1.82, is trading at $0.80 at the time of writing.
*This is not investment advice.