2023-04-10 21:29:04
Now that it’s in the rear-view mirror, it’s safe to say that the Arbitrum airdrop was one of the craziest stories we’ve seen recently in crypto.
Read about all the hype, scams, and the technology behind it here:https://pontem.network/posts/arbitrum-what-you-need-to-know-2
Arbitrum is a Layer 2 optimistic rollup for Ethereum. (If you don’t know what that means, you need to read the article!) When they rolled out a new governance DAO back in March, the ARB token came with it -- and it quickly started a feeding frenzy.
Soon, Crypto Twitter was filled with excitement, speculation, and sadly, a plethora of scams. And to make matters worse, the demand overloaded Arbitrum’s servers right as the airdrop began!
The dust has settled, the ARB has been claimed, and its price has fallen to $1.21.
Then a new scandal struck: the Foundation submitted a proposal toallocate 750 million ARB for grants & op costs.
The DAO voted “no” -- only to find out that a lot of the tokens had already been spent!
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