Aribtrum (ARB) Tokens Moved to Arbitrum DAO Treasury
A total of 69.5 million unclaimed Aribtrum (ARB) tokens, valued at approximately $57 million, have been transferred to the Arbitrum DAO Treasury. This decision was made by the DAO instead of keeping the tokens locked indefinitely as part of the Arbitrum Improvement Proposal AIP-7.
Conclusion of the Arbitrum Deadline
The highly-anticipated Arbitrum airdrop took place in March, rewarding early adopters based on factors such as platform usage duration and asset value bridged onto Arbitrum chains. Until Ethereum block 18208000 on September 24th, eligible users had the opportunity to claim their tokens. As per data from Dune Analytics, 93.3% of users successfully claimed their ARB tokens. The remaining unclaimed tokens were moved to the Arbitrum Treasury under AIP-7, following a proposal that received overwhelming support.
Transfer of Unclaimed ARB Tokens
The official announcement from the Arbitrum Foundation confirmed the transfer of 69 million unclaimed ARB tokens to the network’s treasury. These tokens cannot be claimed anywhere else. The DAO Treasury now holds over $2.9 billion worth of ARB tokens.
Different Approach by Optimism
In contrast to Arbitrum, Optimism, another Ethereum layer-2 solution using optimistic roll-up technology, plans to distribute unclaimed funds directly to eligible users from its initial airdrop in June 2022. Approximately $61.7 million worth of OP tokens remained unclaimed out of a total airdrop value of $271 million. Additionally, Optimism announced a separate token airdrop for governance members.
Hot Take: Unclaimed Tokens Find a New Home
The recent transfer of unclaimed ARB tokens to the Arbitrum DAO Treasury showcases the importance of ensuring that all users have equal opportunities to claim their rewards. While Arbitrum decided to consolidate the unclaimed tokens, other projects like Optimism have taken a different approach, aiming to directly distribute unclaimed funds to eligible users. This raises questions about the most effective and fair way to handle unclaimed tokens in the crypto space. As the industry continues to evolve, finding innovative solutions for token distribution will be crucial in maintaining user trust and engagement.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen’s contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.