Unless you’ve been hiding under a rock I’m sure you’ve heard about the Arbitrum airdrop that was recently announced, expected to inject around $1 billion worth of liquidity into the ecosystem this is one space to keep an eye on.
The Arbitrum Airdrop
What we know so far
Around a week ago the Arbitrum team announced the long-awaited and talked-about airdrop for their native token $ARB. This had the Twitter community abuzz with excitement as people could finally check their eligibility and start calculating how much their airdrop could be worth.
While none of us know what the token will be trading at launch there has been much speculation that it will be around the $1 mark which would palace Arbitrum at a $1.3 billion market cap. While this may seem high for right a launch the network has seen incredible growth over the past few months and has quickly risen to the rank #4 by TVL.
The Arbitrum airdrop is set to happen on the 24th March 2023. How do you think the $ARB token price will react once live?
As we all know tokenomics is a super important part of a crypto project and can often be make or break, tokenomics can also be an easy time to spot any shady activity, so how are the Arbitrum tokens distributed?
While many large networks have a large chunk of their tokens held by VCs or team members, Arbitrum is not one of these. With an impressive roughly 56% of $ARB tokens being community owned. Out of that allocation, 12.75% of the $ARB tokens will be airdropped during the airdrop happening soon.
What is Arbitrum?
Arbitrum is a layer 2 blockchain that offers impressive transaction speeds and low transaction costs. Recently gaining some serious traction in the past couple of weeks it has developed a flourishing ecosystem of DeFi projects, gamblefi projects, and more.
With over 3.4 million users already and an impressive $3.75B total value locked, we could very well be watching one of the next big blockchains coming to life before our eyes. Built to help Ethereums congestion and scalability issues, Arbtrium has already saved users over $640 million in gas fees.
Arbitrum is an EVM-compatible chain meaning developers can launch and deploy their dApps from Ethereum quickly and easily on Arbtrium. The Arbitrum teams also have plans on launching Stylus which will enable developers to deploy dApps written in Rust, C++, C, and more alongside existing Soldiity dApps.
Arbitrum utilizes roll-up technology to process transactions at the fraction of the price of Ethereum and at a much faster speed, while support on Metamask the network has seen a flock of traffic and I suspect will continue to do so post-airdrop.
Projects to watch on Arbitrum
Arbitrum has developed a very impressive ecosystem in a short amount of time with dozens of DeFi protocols being launched and deployed alongside a lot of casino projects which have chosen the network for its speeds and low transaction costs as well as being EVM compatible.
DeFi protocols to watch:
Camelot – DEX
VELA – Derivatives
SolidLizard – DEX
Gamblefi projects to watch:
While the Arbitrum network isn’t just dexes and gamblefi projects these two sectors have been thriving as of late, with dexes being essential to participate in the ecosystem and casinos truly finding their home on Arbitrum due to the fundamentals of the network.