Arbitrum announces launch of ARB token, but here's the caveat

Arbitrum, the popular layer-2 solution, registered a sharp increase in trading activity on its network. As per Dune Analytics, the number of daily transactions went past 1.4 million on 16 March.

Timeline of Arbit

Amid the hype surrounding the Ethereum Shanghai upgrade and the Arbitrum airdrop, co-founder Vitalik Buterin recommends crypto investors using social recovery wallets and multi-signature wallets to achieve self-custody of crypto funds. He also uses a multisig wallet personally to store his funds, as does the Ethereum Foundation.

The wait for one of the most highly anticipated events in the cryptocurrency industry over the past couple of months is finally over with the announcement of the long-awaited ARB token.  The news means that Arbitrum, one of the biggest players in the Ethereum layer-2 scaling solution landscape, will finally get a token.

The Ethereum layer two (L2) scaling solution Arbitrum has launched a native governance token named ARB and a self-executing decentralized autonomous organization (DAO) governance model.

The top rival of the Ethereum (ETH) layer-2 scaling solution Polygon (MATIC) is announcing that it will be transitioning to decentralized governance as well as airdropping a significant amount of its new native asset, ARB.

The Arbitrum Foundation, which is the major player in Ethereum's (CRYPTO: ETH) Layer 2 scaling landscape, announced the launch of a new token called ARB (CRYPTO: ARB). This token will be distributed to community members via an airdrop on March 23, marking the official transition of Arbitrum into a decentralized autonomous organization (DAO).