Arbitrum Starts Distribution of Tokens Among DAOs

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The Arbitrum second-tier solution development team has distributed governance tokens among 125 decentralized autonomous organizations (DAOs).

A total of 113 million ARB — 1.13% of the total supply — was transferred to the addresses of these projects, with more distributions expected later.

These projects include GMX, TreasureDAO, SushiSwap, Uniswap, Aave, Hop Protocol, Radiant Capital, Balancer, Gains Network, Synapse, MakerDAO, Vesta, Curve, Layer Zero, 1inch, and Swapr.

The ARB distribution is aimed at increasing activity on the Arbitrum network, with the coins being used both to finance projects and for other purposes to be determined by the community members through voting.

Previously, the network community had overwhelmingly supported AIP-1.1 and AIP-1.2, as an alternative to AIP-1 which had raised many questions and was withdrawn by the team.