Are you participating in the Arbitrum Airdrop on 23 March? The Airdrop marks decentralized governance for Arbitrum, where the users will be distributed $ARB tokens as an acknowledgment for their continuous support. If you are participating in Anrbitrum's mega event, here are a few things you must steer clear of.
Arbitrum helps users develop low-cost EVM applications using Ethereum security. This Level-2 solution developed by Offchain Labs, helps one develop secured Ethereum scaling options. While Ethereum is known for its security, its only drawback was its limited throughput.
It could only handle 25 transactions per second. However, such drawbacks are now fruitfully overcome with the help of Arbitrum, which helps you overcome the scalability issue in Ethereum.
Arbitrum is an efficient chain that is committed to maintaining the security of Ethereum transactions. It records all Ethereum transactions as soon as they take place and delivers them to the Ethereum main net at a later point in time.
In short, Arbitrum is precisely a PA who handles all your phone calls and texts and schedules your meetings, allowing you to focus on other important tasks. However, all the details are transferred to you as soon as you have some burden off your shoulder!
The Arbitrum foundation recently announced decentralized governance for two networks- Arbitrum One and Arbitrum Nova. It is also set to airdrop 11.6% of the tokens to the core members on 23 March 2023. The Airdrop will mark greater decentralization, allowing the core members and Arbitrum supporters to vote for or against the changes within the network.
Wondering whether you are eligible for the Arbitrum Airdrop? The developing team has set several eligibility criteria regarding claiming the tokens during the Airdrop.
The team has also developed a point scale for the members, and tokens will be airdropped based on individual points and activities, mainly on Arbitrum One. Remember, though the eligibility criteria also involve some activities on Arbitrum Nova, the developing team is mostly focusing on Arbitrum One. Here are some of the eligibility criteria to watch out for.
Arbitrum Airdrop is one of the fascinating ways to participate in the ecosystem's operations and governance. However, there are several other ways to participate in the ecosystem without claiming the Airdrop.
While the Airdrop lets you vote for and participate in the ecosystem's decision-making process, you can also contribute to the ecosystem by voting yourself as a delegate. You can also build an L3 chain with the help of Arbitrum Stack and contribute towards developing dApps.
News of the Arbitrum Airdrop has consequentially raised Arbitrum transaction volumes since the beginning of the month, giving stiff competition to Ethereum. The decentralized transaction exchanges also reached an all-time high over the past 14 days, marking an increase of 32.41%. The top five DEX, including SushiSwap, Uniswap, Camelot, Balancer, and ZyberSwap, also witnessed a sudden spike in their trading volumes, with Camelot spiking to $38.45 million.
However, while Airbitrum shows a triple-fold increase in transaction volumes, indicating the pump amongst investors, with the Airdrop day around the corner, one must be cautious of phishing activities and fake tokens. Needless to say, careful operations with informed choices can help you make the most out of the Mega Airdrop event.