• The Arbitrum Foundation has announced the launch of its new token under the ticker ARB, which will go live on March 23.
• The ARB token will allow holders to vote on changes to the Ethereum layer 2 network and transition as a decentralized autonomous organization (DAO).
• The protocol is launching Orbit, which allows developers to deploy their permissionless layer 3 blockchains using the protocol’s technology and Ethereum’s security.
Arbitrum Token Launch
The Arbitrum Foundation has announced the launch of its new token under the ticker ARB, which will go live on March 23. With a $300 million ARB distribution, holders of this token will be able to vote on changes to the Ethereum layer 2 network.
Arbitrum Becoming DAO
Arbitrum, the layer 2 blockchain protocol designed to increase scalability on the Ethereum blockchain, is taking steps in its transition as a decentralized autonomous organization (DAO). Launching a DAO governance marks an achievement for the protocol in decentralizing the network, becoming the first Ethereum Virtual Machine (EVM) roll-up technology to accomplish decentralization.
Orbit Deployment
In addition, Arbitrum is launching Orbit, which allows developers to deploy their permissionless layer 3 blockchains using its technology and Ethereum’s security. This is designed to reinforce and grow its ecosystem as well as develop new protocol applications and chains. Through Orbit, even more permission-based licenses can be issued by its users, ensuring full control over its future.
ARB Token Distribution
Most tokens are being distributed among 12% of community members while investor and team tokens are subject to 4 year lockups with monthly unlocks over three years. Additionally, users and DAOs can receive airdrops within one week after launch.
Conclusion
The Arbitrum Foundation has released a new token that will allow users greater control over changes made to their Layer 2 network as well as expanding their possibilities through Orbit deployment for permissionless layer 3 blockchains. With tokens distributed among 12% of community members plus investor and team locks ups spread out over four years with monthly unlocks for three years following that, this launch marks an important step forward for both Arbitrum and crypto development overall!