Today, the Arbitrum Foundation has started the full distribution of 1.13% of ARB to DAOs (Decentralized Autonomous Organisations). A total of 112,834,000 ARB will be awarded to 137 different DAOs. To ensure only authentic DAOs receive these funds, the Arbitrum Foundation sent out a test transaction earlier last week to confirm registration. Data from platform provider Spot On Chain reveals that Treasure DAO was the biggest beneficiary, with 8 million ARB distributed. Sixty other wallets received a minimum of 75,000 ARB. Additionally, the airdrop created a good reaction for the token, with its price increasing.

Following the airdrop, the Arbitrum Foundation proposed a new set of reforms, known as AIP-1.1 and AIP-1.2. AIP-1.1 addresses a specific smart contract lockup timeline and focuses on expenditure, financial budget and transparency. AIP-1.2 further determines the revisions to the governing documents of the foundation and reduces the initial ARB token requirement from 5 million to 1 million.

Further, the proposed reforms passed without any dissent or back and forth during the voting session, with more than 99% in favor of them. While the airdrop is expected to increase the value of the token over the long-term, analysts have noticed that the token has gone into a negative trend. However, experts remain optimistic that the token's price will grow significantly in the future.



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