CDS Crypto News Arbitrum Treasury Raised $59 Million Due to Users Who Didn’t Receive Their Tokens as a Result of Airdrop
Crypto News

Arbitrum Treasury Raised $59 Million Due to Users Who Didn’t Receive Their Tokens as a Result of Airdrop

Arbitrum treasury is now richer.

408
Arbitrum Treasury Raised $59 Million Due To Users Who Didn'T Receive Their Tokens As A Result Of Airdrop

Crypto News – The 69 million unclaimed ARB tokens were sent to the network’s treasury over the weekend, according to the Arbitrum Foundation, which oversees the development of the Arbitrum blockchain.

Arbitrum Treasury Raised $59 Million Due to Users Who Didn’t Receive Their Tokens as a Result of Airdrop

Technical data state that the unclaimed prizes make up 0.69% of ARB’s total supply of $10 billion. Data from a Dune Analytics dashboard reveals that 93% of the tokens had been claimed by qualified users.

At the current price, these coins are worth more than $59 million. ARB tokens were airdropped to qualified users in late March, and there was a tremendous amount of community interest. Within hours of the airdrop going live, 23,000 different people claimed almost 42 million tokens.

Arbitrum Community Reached a Common Decision on Remaining Tokens

Although the deadline for requesting tokens after the ARB launch was set for September 24th, there were a number of people who did not request tokens or forgot to do so. Normally, unclaimed tokens are frozen. However, Yoav.eth, a member of the Arbitrum community, proposed in a governance vote in August that these tokens be moved to the Arbitrum treasury instead of being frozen indefinitely. A majority of token holders, 99.96%, approved the proposal. After the transfers on Sunday, the treasury of Arbitrum currently has ARB tokens valued at close to $3 billion.

Arbitrum Treasury Raised $59 Million Due To Users Who Didn'T Receive Their Tokens As A Result Of Airdrop
Sources:coindesk
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Related Articles

Sui Blockchain Faces First Major Outage: What Happened and What’s Next

Sui blockchain faces its first major outage—learn what happened, the impact on...

MicroStrategy Stock Reaches New High as Bitcoin Surges Above $98,000

MicroStrategy’s stock surged to a new all-time high as Bitcoin reached $98,000,...

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana Face Resistance

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana...