breaking news How to Check Arbitrum Airdrop Eligibility • $ARB Token • Benzinga

In the fast-paced field of crypto, airdrops provide exciting and rewarding experiences that captivate countless enthusiasts. Arbitrum’s next airdrop is set to be one of the most notable events in recent history, distributing over 1 billion tokens to over 600,000 wallet addresses on March 23, 2023.

Arbitrum, a pioneering Ethereum layer 2 scaling solution, outperforms rivals Polygon and Optimism, being twice their size and ranking fourth in total value locked (TVL) among all cryptocurrency projects. This innovative project aims to improve the speed, scalability and efficiency of Ethereum while reducing costs. The purpose of the airdrop is to celebrate the growth of Arbitrum and distribute governance tokens to early supporters.

In this comprehensive guide, Benzinga dives into the captivating world of Arbitrum airdrop, helping you navigate the process of verifying your eligibility and unlocking your share of this highly anticipated token giveaway.

The Arbitrum Foundation aimed to involve many genuine users in the airdrop, but inevitably some recent or sporadic users were not successful. To differentiate newcomers from airdrop farmers, a point system was used to determine token eligibility.

The snapshot took place on February 6, 2023. Points earned (minimum of three) prior to the launch of Arbitrum Nitro’s mainnet held double the value of those earned afterward. Nitro debuted at block #22207817.

Prior to the snapshot, each qualifying action earned a user one point, with a maximum limit of 15 points. A series of actions allowed users to earn points, including:

• You transferred funds into Arbitrum One.
• You transferred funds to Arbitrum Nova.

• You traded for 2 separate months.
• You have traded for 6 separate months.
• You have traded for 9 separate months.

Frequency of transactions and interaction

• You have made transactions with a total value of more than $10,000.
• You have made transactions with a total value of more than $50,000.
• You have made transactions with a total value of more than $250,000.

Assets related to Abitrum One

• You have deposited more than $10,000 in assets.
• You have deposited over $50,000 in assets.
• You have deposited over $250,000 in assets.

Assets bridged to Abritrum Nova

• You have made more than 3 transactions.
• You have made more than 5 transactions.
• You have made more than 10 transactions.

A minimum of three points is required to be eligible. All criteria will be disqualified if you scored less than three points. Sybil detection criteria were used which affected eligibility.

Many anti-Sybil measures have been put in place to prevent bots from taking advantage of the airdrop. These measures are as follows:

• If an airdrop recipient’s wallet transactions all occurred within 48 hours, a point is subtracted.
• If an airdrop recipient’s wallet balance is less than 0.005 ETH and the wallet has not interacted with more than one smart contract, a point is subtracted.
• If an airdrop recipient’s wallet address was identified as a Sybil address during the Hop Protocol bounty program the recipient is disqualified.

Arbitrum refrained from revealing the full list of airdrop recipients. However, you can quickly check your eligibility on the official Arbitrum website. The team also provided the essential criteria and dataset, allowing users to independently assess the fairness and accuracy of the process. Here is a concise guide to determining your eligibility.

The first step is to identify your Arbitrum wallet address and confirm that it matches the address used during the eligibility period.

A useful way to check your transaction history is to use a blockchain explorer like Arbi Scan. A blockchain explorer is like a search engine for blockchain networks, allowing you to review your wallet activity with the Arbitrum network during the eligibility period and ensure you have the right wallet.

Visit the official Arbitrum website to determine your airdrop eligibility. Enter your wallet address in the tool and you will receive a confirmation regarding your eligibility status. This user-friendly method streamlines the process, saving time and effort.

As you prepare for the Arbitrum airdrop, it’s essential to look ahead and consider the crucial next steps after the event. Here are several factors to consider to ensure you get the most out of your newly acquired tokens.

Once the airdrop is done, you’ll be eager to claim your tokens. As of this writing, the airdrop claim period is set to begin on March 23. Expect a lot of volatility as the market reacts to the launch of the new ARB token.

It is essential to store your airdrop tokens safely. Once the token is officially released, it is advisable to explore the best hardware wallet available, such as Ledger or Tangem, and software wallets such as Trust Wallet to protect your tokens. Ledgers are a great choice for storing $ARB tokens, especially due to their tight integration with Metamask. This allows you to easily use all EVM compatible blockchains like Arbitrum, BSC, Optimism, Avalanche, Polygon and many more.

The ARB token is only used to make decisions about the protocol, not to pay fees like ether (ETH) on Ethereum and Arbitrum. The governance of the Arbitrum DAO allows users to modify the main code directly without any intermediary.

The release of ARB is planned alongside the launch of Arbitrum Obit, which allows other applications and protocols to create new Layer 3 blockchains on Arbitrum’s low-cost system.

As the highly anticipated Arbitrum airdrop approaches, the excitement is palpable. Scheduled to distribute over a billion tokens to over 600,000 wallet addresses, this event is shaping up to be truly memorable. Get ready to embark on this remarkable journey, check your ARB eligibility, and grab the opportunity to make your mark in the ever-changing world of cryptocurrency.