{"id":581873,"date":"2023-04-25T12:43:25","date_gmt":"2023-04-25T11:43:25","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=581873"},"modified":"2023-04-25T12:45:52","modified_gmt":"2023-04-25T11:45:52","slug":"l2-arbitrum-shares-arb-tokens-to-daos","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/l2-arbitrum-shares-arb-tokens-to-daos\/","title":{"rendered":"L2 Arbitrum Shares ARB Tokens To DAOs Within Its Ecosystem"},"content":{"rendered":"\n<p>Summary: <\/p>\n\n\n\n<ul><li>Ethereum\u2019s leading Layer 2 scaling network Arbitrum started distributing its ARB governance token to DAOs in its ecosystem.<\/li><li>Trading venues GMX, Uniswap, and Sushiswap are among several eligible decentralized autonomous organizations or DAOs within Arbitrum\u2019s ecosystem.<\/li><li>The project allocated 1.13% of its 10 billion supply towards these DAOs after announcing its governance airdrop in March.<\/li><\/ul>\n\n\n\n<p>Ethereum\u2019s leading Layer 2 scaling network Arbitrum started <a href=\"https:\/\/twitter.com\/arbitrum\/status\/1650541491012370435?s=20\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/twitter.com\/arbitrum\/status\/1650541491012370435?s=20\" rel=\"noreferrer noopener nofollow\">distributing<\/a> its ARB governance token to DAOs in its ecosystem weeks after it airdropped free coins to eligible users as a reward for supporting the chain. <\/p>\n\n\n\n<p>DeFi projects like Aave, Uniswap, GMX, SushiSwap, TreasureDAO, Balancer, Layer Zero, 1inch, MakerDAO, Curve, and Gains Network to name a few all feature among eligible decentralized autonomous organizations or DAOs set to receive ARB tokens from the scaling solution. <\/p>\n\n\n\n<p>Arbitrum previously allocated 1.13% of its 10 billion supply towards these DAOs after announcing its governance airdrop to network users and participants in March. This distribution is not to be mistaken with the <a href=\"https:\/\/en.ethereumworldnews.com\/arbitrum-airdrop-live-arb-below-2\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/en.ethereumworldnews.com\/arbitrum-airdrop-live-arb-below-2\/\" rel=\"noreferrer noopener\">airdrop<\/a> sent to users or grants that the protocol&#8217;s own DAO would issue to other DAOs as part of the roadmap. <\/p>\n\n\n\n<p>Last week, the protocol sent out test transactions to eligible DAOs. Those that confirmed receiving the mock transactions will receive full distribution, the L2 network noted in a tweet. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The full distribution of the DAO airdrop will take place today with those that have confirmed receiving the test transaction that was sent earlier last week.<br><br>For more details on the DAO distribution, please read the thread below. \ud83e\uddf5\ud83d\udc47 <a href=\"https:\/\/t.co\/naApiR7uT2\" rel=\"nofollow\">https:\/\/t.co\/naApiR7uT2<\/a><\/p>&mdash; Arbitrum (\ud83d\udc99,\ud83e\udde1) (@arbitrum) <a href=\"https:\/\/twitter.com\/arbitrum\/status\/1650541491012370435?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">April 24, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Arbitrum&#8217;s on-chain data also showed massive ARB token outflows from the Foundation&#8217;s address to over 125 DAO wallets. Per previous details from the airdrop, the DAO distribution boasts 113 million ARB tokens worth around $145 million at current prices. ARB traded above $1.32 on Tuesday, as seen on TradingView charts. <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img width=\"851\" height=\"518\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/04\/ARBUSDT_2023-04-25_12-44-58.png\" alt=\"\" class=\"wp-image-581878\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/04\/ARBUSDT_2023-04-25_12-44-58.png 851w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/04\/ARBUSDT_2023-04-25_12-44-58-300x183.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/04\/ARBUSDT_2023-04-25_12-44-58-770x469.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/04\/ARBUSDT_2023-04-25_12-44-58-269x164.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/04\/ARBUSDT_2023-04-25_12-44-58-746x454.png 746w\" sizes=\"(max-width: 851px) 100vw, 851px\" title=\"\"><figcaption><strong><a href=\"https:\/\/www.tradingview.com\/symbols\/ARBUSDT\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.tradingview.com\/symbols\/ARBUSDT\/\" rel=\"noreferrer noopener\">ARB\/USDT by TradingView<\/a><\/strong><\/figcaption><\/figure>\n\n\n\n<h2>Arbitrum Moves Past AIP-1 Debacle <\/h2>\n\n\n\n<p>The Ethereum-based scaling solution was the subject of intense community backlash after a governance proposal that sought to allocate 750 million ARB to the Arbitrum Foundation was implemented before voting ended. <\/p>\n\n\n\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/arbitrum-rethinks-aip1-community-concerns\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/en.ethereumworldnews.com\/arbitrum-rethinks-aip1-community-concerns\/\" rel=\"noreferrer noopener\">AIP-1<\/a>&#8216;s contentious vote was rectified in AIP-1.1 after the community approved the move, and the tokens were transferred to the administrative budget for special grants which is managed by the protocol&#8217;s self-governing DAO and its 12-member council. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Ethereum\u2019s leading Layer 2 scaling network Arbitrum started distributing its ARB governance token to DAOs in its ecosystem. Trading venues GMX, Uniswap, and Sushiswap are among several eligible decentralized autonomous organizations or DAOs within Arbitrum\u2019s ecosystem. The project allocated 1.13% of its 10 billion supply towards these DAOs after announcing its governance airdrop in March. Ethereum\u2019s leading Layer 2 scaling network Arbitrum started distributing its ARB governance token to DAOs in its ecosystem weeks after it airdropped free coins [&hellip;]<\/p>\n","protected":false},"author":55,"featured_media":581877,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[825,947,108120,2],"tags":[108708,108898,7002,108862],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581873"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=581873"}],"version-history":[{"count":3,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581873\/revisions"}],"predecessor-version":[{"id":581879,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581873\/revisions\/581879"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/581877"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=581873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=581873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=581873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}