ARB

Arbitrum Treasury Grows Nearly $60M from Unclaimed ARB Tokens

by BSC News

September 25, 2023

chain

Unclaimed ARB tokens worth $56.54 million have been transferred to the Arbitrum DAO treasury from the airdrop contract.

The Arbitrum airdrop has now seen unclaimed tokens worth a staggering $56.54 million transferred to the DAO treasury from the airdrop contract. Originally part of the airdrop, the tokens, totaling 69,448,385 ARB, were sent into the treasury at Ethereum block 18208000, about 7 hours ago.

Source: Arbiscan

On March 23, Arbitrum announced the launch of its highly-anticipated DAO governance and its native $ARB token, positioning the network as a decentralized autonomous organization, and enabling $ARB token holders to actively participate in crucial governance decisions.

However, the launch of the ARB token and subsequent airdrop was not without its fair share of challenges. Technical glitches marred the initial hour of the launch, causing frustration among eager users attempting to claim their tokens.

At the time of writing, the price of Arbitrum’s native token, ARB, is trading at $0.8142, per data from CoinMarketCap.

With the DAO treasury now significantly fortified, Arbitrum's future looks promising as it continues to navigate the rapidly evolving landscape of decentralized finance.

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