Arbitrum announces launch of ARB token, but here’s the caveat

ambcrypto.com:

Arbitrum, the popular layer-2 solution, registered a sharp increase in trading activity on its network. As per Dune Analytics, the number of daily transactions went past 1.4 million on 16 March.

The number of daily active users also went past 135,000, representing a jump of more than 50% over the past week.

Source: Dune Analytics

Such an upswing was last witnessed during the latter part of February, during which Arbitrum managed to surpass Ethereum in daily transactions. However, since then trading activity slowed down considerably.

So, what’s changed on 16 March?

The Arbitrum ecosystem announced the launch of its native token, ARB, speculations of which were rife in the crypto space since the unprecedented increase in trading activity on the blockchain.

Arbitrum joined other layer-2 solutions like Optimism [OP] in launching its governance token. Arbitrum said that the upcoming airdrop, slated for 23 March, will distribute 12.75% of the tokens meant for community allocation. While 56% of the tokens will be community-owned, 44% will be set aside for investors and core contributors.

— Arbitrum (