Arbitrum DAO Claims $56M in Unclaimed ARB from Airdrop as Deadline Expires

Arbitrum DAO takes $56M of unclaimed ARB from airdrop as deadline ends
Unclaimed tokens were 0.69% of total 10B ARB supply
93% of eligible users had claimed their airdrop tokens
Arbitrum is a layer 2 scaling solution for Ethereum by Offchain Labs
ARB is Arbitrum's governance token, airdropped in March 2023
Unclaimed tokens moved to Arbitrum DAO 6 months after initial airdrop

cointelegraph.com

Relevant topic timeline:

9/11/2023

Arbitrum Token Price and Usage Plummet Amid Declining Confidence and Competition from Other Layer 2s

The price of Arbitrum (ARB) tokens experienced a sharp decline of 14.5% due to concerns about governance proposals and declining network activity, potentially impacting the project's overall viability and hindering its growth and adoption.