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.
Naomi Gonzales
- 2023-04-25
Arbitrum Foundation Airdrop To DAOs
The Arbitrum Foundation has started the full distribution of 1.13% of ARB to Decentralized Autonomous Organisations (DAOs). Data from Spot On Chain reveals that Treasure DAO was the biggest beneficiary of the airdrop. Additionally, the airdrop created a good reaction for the token, with its price increasing before going into a negative trend later.
![CandleFocus ArbitrumFoundation-ARB-DAO-Airdrop-Token](https://images.candlefocus.com/Arbitrum-Foundation-Airdrop-To-DAOs.jpg)