Arbitrum’s long-awaited airdrop to go live next week, with self-executing DAO
Layer 2 project Arbitrum will airdrop a governance token with the ticker ARB to its community members on March 23. This brings Arbitrum one step closer to being fully decentralized. The token will control the governance of the Arbitrum One and Nova networks through a DAO, which will be supported by a security council, according to governance documents.
“The goal of the airdrop and the goal of the token is really to give governance power over to the community members and try to identify the real community members that are active in the chain, are participating and will participate,” said Steven Goldfeder, CEO of Offchain Labs, the maker of Arbitrum, in an interview. Arbitrum’s form of governance will be a self-executing DAO. This means that governance members will be able to pass protocol upgrades that will automatically be applied on-chain. In doing so, Offchain Labs has gone for a more radical form of decentralization; one that Goldfeder reckons is absolutely necessary.
Source
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