Searches for Arbitrum, the largest Ethereum layer 2 scaling system, have surged on Google in the past 24 hours after the Arbitrum Foundation announced the airdrop on Thursday.
Arbitrum appears to be of particular interest in China, as the country currently dominates Google Trends’ “Regional Interest” category.
source: google trends
The Arbitrum blockchain has a total value locked (TVL) of $1.66 billion spread across derivatives exchanges, decentralized exchanges, and lending protocols. The new token was created during Arbitrum’s transition to a decentralized autonomous organization (DAO), providing governance for the network. As such, the platform features governance voting and proposals for token holders.
Tokens will be airdropped to eligible users on Thursday (March 23), with 11.5% of the total supply allocated to Arbitrum users.
Arbitrum’s move is said to follow Optimism, a rival layer-2 scaling system that released its airdrop last April. According to DefiLlama, the Optimism (OP) token currently has a market cap of $792 million and a TVL of 0.84. Since Arbitrum has more than double the funds locked on the blockchain, using the same ratio, the token’s market capitalization is expected to be around $2 billion.
Token ARBs interested on twitter
After Arbitrum announced the launch of the airdrop on March 23, ARB also became popular on Twitter.
Currently, ARB is the sixth most trending topic on Twitter in the US, with over 10,000 tweets. Arbitrum posted a 93-second clip ending with Offchain Labs co-founder Ed Felten saying:
“Together let us build Arbitrum. March 23”.
As of now, the line tweet Has 2.5 million views.
Offchain Labs is a New York-based company developing Arbitrum, the leading Layer 2 rollup and fourth largest blockchain by total value locked.
As stated in the blog post, Arbitrum is taking its decentralization efforts a step further by issuing ARB tokens that “support community-based DAO governance.” postal on the blog.
When asked “Why now?” in a twitter spaceArbitrum co-founder and Offchain Labs CEO Steven Goldfeder said:
“In order to empower the community to build chains and empower other layer 2s to empower the community, there first has to be a community. In other words, there has to be a DAO, and now is the right time to really empower the community.”
Mixed feelings more than Arbitrum’s Discord channel
Arbitration Discord Also active. Since the announcement, users have sent thousands of messages in the general chat, expressing their entire thoughts.
Despite claiming to be eligible, some were frustrated by not qualifying for the airdrop, while others expressed gratitude for the “free money.” Alternatively, many sought help with the airdrop, questioning the circulating supply of ARB at the time of the February snapshot and launch.
Additionally, there has been a lot of speculation about the potential price of ARB.
- Arbitrum airdrops new token ARB and migrates to DAO
- Does Arbitrum Take the Top Spot in the Tier 2 Space?
- What to expect after Crypto.com (CRO) price loses key support
front page
According to Kyptos
