As the airdrop deadline approaches, Arbitrum DAO snatches $56M of unclaimed ARB.

In the realm of crafting written content, three pivotal elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity, in essence, gauges the intricacy woven into the fabric of text. Burstiness, on the other hand, delves into the rhythmic cadence of sentences, assessing their fluctuations. Lastly, predictability delves into the reader’s likelihood of anticipating the next sentence. It’s an intriguing dance between these factors that makes for compelling content.

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Now, let’s rephrase the provided text:

A mere 0.69% of ARB’s total supply, which amounts to 10 billion tokens, lies dormant and unclaimed in the realm of Arbitrum. Arbitrum, a prominent layer-2 scaling solution tailored for the Ethereum blockchain, has formally absorbed these unclaimed tokens from its airdrop into its treasury vault.

The Arbitrum Foundation executed the transfer of 69.4 million unclaimed Arbitrum (ARB) tokens to its decentralized autonomous organization (DAO), known as the Arbitrum DAO, on the 24th of September. This announcement echoed through the digital corridors of X (formerly Twitter), signaling the end of the road for aspiring ARB claimants. The Arbitrum Foundation, in a parting message, urged users to navigate the blockchain space cautiously, now that ARB tokens were beyond their grasp.

As the quill scratches these words, the transferred ARB tokens command an approximate valuation of $56 million. However, the cryptocurrency seems to have faltered slightly, experiencing a 1.6% dip over the past 24 hours and trading at $0.81, as per the insights gleaned from CoinGecko.

In the grand scheme of ARB’s 10-billion-token supply, the unclaimed ARB tokens amount to a meager 0.69%. Analytical data sourced from Dune Analytics shines a light on the fact that a robust 93% of eligible users have already laid claim to their tokens. These eligible users and developers were entitled to receive a portion of the token’s 10-billion-strong supply—precisely 12.75%, which translates to 1.275 billion ARB tokens.

Founded back in 2021, Arbitrum stands as a formidable layer 2 Ethereum scaling solution meticulously forged by the brilliant minds at Offchain Labs. Fast-forward to March 2023, and the Arbitrum Foundation has ushered in the era of the Arbitrum DAO, complete with its native governance token, ARB. This governance token, residing on the ERC-20 standard, bestows upon its holders the privilege of partaking in the Arbitrum DAO’s on-chain governance protocol.

The migration of unclaimed ARB tokens to the Arbitrum DAO unfolds as a narrative that spans six months, commencing from the DAO’s inception and the initial ARB token airdrop, as elucidated in the Arbitrum Improvement Proposal 7. A limited window existed for recipients to claim their tokens, set to close with the creation of Ethereum block 18208000, a milestone projected to transpire on the auspicious date of September 24th.