KyberSwap introduces $ARB liquidity pools and liquidity mining to Arbitrum for the first time

Only projects with a DAO and a community fund will receive airdrops, with the exception of The Protocol Guild. Factors considered for eligibility include deployment date, multi-chain or native status, transaction volume, total asset value locked and native liquidity moved.

strengthen communities

The $ARB governance token is Arbitrum’s first native digital asset. As part of the platform’s airdrop, 11.62 percent of the token’s circulating supply will be distributed to early backers and 1.13 percent to developers building on top of Arbitrum. This means that soon 12.75 percent of the token’s total supply will come into circulation.

According to the Arbitrum Foundation, the airdrop was not retroactive. It was instead a way to empower sub-communities in the Layer2 network to decide how governance is handled locally.

As Arbitrum noted, airdrops would only be available for projects with a decentralized autonomous organization (DAO) and a community treasury. Still, it made an exception for The Protocol Guild, a collection of Ethereum core developers.

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How much $ARB did DAOs get?

When selecting projects for airdrops, Arbitrum evaluated factors such as deployment date and whether they spanned multiple chains or were native to their ecosystem. In addition, the transaction volume and the total value of the assets tied to the project as well as domestic liquidity are taken into account.

Arbitrum has airdropped a total of $112.834 million in ARBs to DAOs. Below are the top seven DAOs that received the most $ARB during the airdrop, according to a list compiled by Nansen:

• Darling DAO: Treasure is an Arbitrum-based decentralized network for blockchain-based metaverse projects. Through its NFT marketplace and gaming and staking platform Bridgeworld, Treasure aims to build and support the growth of new, decentralized metaverses. The Arbitrum Foundation has airdropped $8 million ARB in Treasure, the most ever received from a DAO.

• GMX: On the next line is GMX, which also received $8 million ARB. With GMX you can trade both spot and perpetual assets with low swap fees and almost no price impact. Liquidity providers earn fees from market making, swap fees and leveraged trading through this multi-asset pool.

• Uniswap: Uniswap facilitates automated trading of decentralized finance (DeFi) tokens through its decentralized trading protocol. Token trading on Uniswap is fully automated and open to anyone who owns tokens, while trading is more efficient than on traditional exchanges. Uniswap received $4.378 million ARB.

• sushi exchange: SUSHI is an Automated Market Maker (AMM). AMMs are an increasingly popular tool among cryptocurrency users and decentralized exchanges that use smart contracts to create markets for a specific pair of tokens. The protocol aims to diversify the AMM market and also add new features not found on Uniswap such as: B. an internal token, SUSHI, which rewards network participants. Sushi DAO received $4.249 million ARB.

• Dopex: The Dopex protocol maximizes liquidity for option writers and minimizes losses for option buyers. Users can deposit basis/quota for their respective pools, earn passive income by writing and buying discounted options across liquidity pools. In total, Dopex received $3.863 million ARB.

• Curve: Curve manages liquidity with an automated market maker (AMM) on a decentralized exchange for stablecoins. In August, Curve launched a decentralized autonomous organization (DAO) that uses CRV as its underlying token. The DAO connects multiple smart contracts for users’ escrowed liquidity to the Ethereum-based Aragon creation tool. Curve received $3.476 million ARB.

• Radiation Protocol: Radiant was designed to solve scaling, concurrency, and Turing Complete programming problems associated with all existing blockchains. It is a peer-to-peer digital asset system that facilitates direct trading between users without the need for a central authority. Radiant Capital received $3.348 million ARB.

Besides these protocols, Balancer, Protocol Guild, CAP, and Vest Finance were also among the projects that received the most airdrops. The launch of the Arbitrum token is among the most anticipated events in the crypto space this year, especially as it has been gaining momentum in the non-governance token DeFi sector since last year.

Arbitrum ($ARB) is trading at $1.32 with a market cap of $1.674 billion. According to CoinMarketCap, the token’s price has fallen more than 88% today, within minutes of being listed on various exchanges.

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What is arbitration:

Arbitrum is an Ethereum Layer 2 network that allows developers to create and deploy highly scalable smart contracts at low cost. You can use Arbitrum chains to do all the things you do on Ethereum – use Web3 apps, deploy smart contracts, etc., but your transactions will be cheaper and faster. The team’s flagship product, Arbitrum Rollup, is an optimistic rollup protocol that inherits Ethereum-level security.

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