• The Arbitrum Foundation is launching a new token under the ticker ARB, with a $300 million distribution.
• ARB holders will be able to vote on changes to the Ethereum layer 2 network.
• The protocol is transitioning to a decentralized autonomous organization (DAO) and launching Orbit which allows developers to deploy permissionless layer 3 blockchains.
Arbitrum Launches New Token ARB
The Arbitrum Foundation has announced the launch of its new token under the ticker ARB, which will go live on March 23. With a $300 million ARB distribution, The ARB token will allow holders to vote on changes to the Ethereum layer 2 network.
Transition To A DAO Governance
Arbitrum, the layer 2 blockchain protocol designed to increase scalability on the Ethereum blockchain, is taking steps in its transition as a decentralized autonomous organization (DAO). This move allows the Arbitrum One and Arbitrum Nova to function independently of centralized actors, allowing its community to decide the next steps on the network’s roadmap for upcoming events. According to the announcement, the protocol’s DAO can authorize additional Layer 2 chains on Ethereum, regardless of whether the ARB token governs the chain. This mechanism will ensure that its community fully controls the network’s technology.
Launch Of Orbit
In addition, The Arbitrum Foundation has announced the launch of Orbit, which allows developers to deploy their permissionless layer 3 blockchains using protocol’s technology and Ethereum’s security.orbit is designed ti reinforce and grow networks ecosystem ,develop new protocol applications and launch new protocol chains .the arbitrium dao can issue even more permission-based licenses ti its users ensuring complete control over protocols future .
Distribution Of Tokens
Most tokens will be distributed ot over 12% of community members .the foundation and dao will be tasked with distributing additional tokens ti community over time .while user and dao airdrops wil lbe available in one week all investor and team tokens are subject tot 4 year lockups ,with first unlocks happening in one year and then monthly unlocks for remaining three years .
Conclusion
This transition towards decentralization allows for greater governance over decisions made regarding Arbitrums technology ,and ensures that users are able ti safely interact with teir respective applications without worrying about any centralised party tampering with their data or funds .