Arbitrum, one of the largest Ethereum layer-2 scaling solutions, has announced its airdrop scheduled for March 23. The Arbitrum Foundation said that ARB will be airdropped to community members and DAOs. ARB holders will vote on key governance decisions on the Arbitrum network.

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Arbitrum is one of the largest players in the layer-2 scaling landscape. The scaling solution is finally getting a token, ARB. The project announced that community members will tentatively receive the airdrop on March 23.

ARB will mark Arbitrums official transition into a decentralized autonomous organization (DAO). ARB token holders will vote on key decisions governing Arbitrum One and Arbitrum Nova. These two networks allow users to transact on the Ethereum blockchain with greater speeds and lower fees.

The launch of the development tool alongside the ARB token falls in line with a proposal from Vitalik Buterin, Ethereums co-founder, in which he identified necessary steps to allow optimistic rollups to take off training wheels and become fully decentralized.

Arbitrum will be one of the first Ethereum rollups to move from stage zero to one, according to Steven Goldfeder, CEO at Offchain Labs.

Arbitrums ARB token will put governance in the communitys hands. Working closely with Nansen over the past few months, the team designed airdrop eligibility criteria. The team has shared detailed eligibility criteria for the airdrop on gov.arbitrum.foundation.

User airdrop will make up 11.5% of the total token supply, with an additional 1.1% earmarked for DAOs. The remaining governance tokens will be distributed over time through grant programs and other initiatives led by the DAO.

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Ethereum layer-2 Arbitrums most awaited airdrop of 2023 is expected on March 23 - FXStreet