Arbitrum released its long-awaited token airdrop last week to widespread fanfare. Its successful launch has crypto enthusiasts eagerly awaiting more such giveaways.
Arbitrum, the largest layer-two scaling solution by usage on Ethereum, released its highly anticipated governance token on March 23. The network distributed 1.162 billion tokens – 11.6% of the supply – to 625,000 eligible users. To date, 87% of addresses, or 543,058, have claimed their tokens.
Arbitrum employs a scalability framework called optimistic rollups. This is used by competing layer-two platforms Optimism, Boba Network and Metis Network. Optimistic rollups assume transactions are valid by default and participants in the network are given a certain amount of time, usually one to two weeks, to claim fraudulent transactions.
The applications contributing the most TVL on Arbitrum are GMX and the decentralized exchanges Uniswap V3, Arbitrum Exchange and Sushi.Optimism, a competing layer-two scalability platform, was the first optimistic rollup to launch a token, airdropping 200 million OP tokens to 250,000 addresses in May 2022. On average, each user received 800 OP tokens . Allocations ranged from 409 to 27,534 OP tokens.
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