Arbitrum, a significant layer-2 scaling solution for the Ethereum blockchain, has officially added the unclaimed tokens from its airdrop to its treasury, accounting for 0.69% of ARB’s total supply of 10 billion.
On September 24, the Arbitrum Foundation transferred 69.4 million unclaimed Arbitrum (ARB) tokens to its decentralized autonomous organization (DAO), the Arbitrum DAO, the foundation announced on X (previously Twitter).
The foundation emphasized that Arbitrum users can no longer claim ARB tokens in any location. “Please be safe out there,” added the Arbitrum Foundation.
At the time of writing, the value of the transferred ARB is approximately $56 million. According to data from CoinGecko, the cryptocurrency price fell 1.6% over the past 24 hours to $0.81.
Unclaimed ARB tokens constitute 0.69 percent of ARB’s supply of 10 billion. Dune Analytics data indicates that 93% of eligible users had claimed tokens. Arbitrum users and developers could receive up to 12.75 percent of the total supply of 10 billion tokens, or 1.275 billion ARB.
Offchain Labs founded Arbitrum in 2021 as a layer 2 scaling solution for Ethereum. The Arbitrum Foundation declared the launch of the Arbitrum DAO and its native governance token, ARB, in March 2023.
Airdropped on March 23, ARB is the ERC-20 governance token that allows holders to partake in the on-chain governance protocol of the Arbitrum DAO.
The transfer of unclaimed ARB tokens to the Arbitrum DAO occurs six months after the creation of the DAO and the airdrop of ARB tokens, as detailed initially in Arbitrum Improvement Proposal 7.
The beneficiaries could claim their tokens until block 18208000 of Ethereum, which is anticipated to be created on September 24.
