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Arbitrum DAO takes $56M of unclaimed ARB as airdrop lower-off date ends

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The amount of unclaimed Arbitrum tokens accounts for 0.69% of ARB’s total provide of 10 billion.

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Arbitrum, a prime layer-2 scaling respond for the Ethereum blockchain, has formally added the unclaimed tokens from its airdrop to its treasury.

The Arbitrum Foundation sent 69.4 million unclaimed Arbitrum (ARB) tokens to its decentralized independent group (DAO), the Arbitrum DAO, on Sept. 24, the basis introduced on X (formerly Twitter).

The basis emphasized that Arbitrum users will no longer be ready to claim ARB tokens any place. “Please be exact available within the market,” the Arbitrum Foundation added.

On the time of writing, the transferred amount of ARB is worth around $56 million. The cryptocurrency slipped 1.6% over the final 24 hours, trading at $0.81, essentially essentially essentially based on data from CoinGecko.

The amount of unclaimed ARB tokens accounts for 0.69% of ARB’s total provide of 10 billion. In accordance with data from Dune Analytics, 93% of eligible users had claimed the tokens. Eligible Arbitrum users and developers had been allowed to acquire up to 12.75% of the token’s provide of 10 billion, or 1.275 billion ARB.

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Based in 2021, Arbitrum is a layer 2 Ethereum scaling respond created by Offchain Labs. In March 2023, the Arbitrum Foundation introduced the commence of the Arbitrum DAO and its native governance token, ARB. Airdropped on March 23, ARB is the ERC-20 governance token, allowing holders to win half within the Arbitrum DAO’s on-chain governance protocol.

The circulation of the unclaimed ARB tokens to the Arbitrum DAO comes six months after the DAO changed into created and the ARB tokens had been airdropped, as firstly outlined in Arbitrum Improvement Proposal 7. The recipients would possibly possibly claim their tokens till the Ethereum block 18208000, estimated to be created on Sept. 24.

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