The Arbitrum Foundation, which maintains the development of the Arbitrum blockchain, said on Sunday it had transferred 69 million worth of unclaimed ARB tokens to the network’s treasury as the claiming period for the tokens expired this weekend.
According to technical documents, the unclaimed rewards represent 0.69% of ARB’s total supply of 10 billion. Facts A Dune Analytics dashboard shows that 93% of eligible users had claimed the tokens.
These tokens are worth over $59 million at current prices. ARB tokens were dropped to eligible users in late March, sparking a huge community response – with more than 42 million tokens claimed by 23,000 unique users hours after going live.
Airdrops refer to the unsolicited and/or automatic transfer of tokens from projects to crypto users.
While the claim deadline was set for September 24 after ARB went live, a board vote in August saw Arbitrum community member yoav.eth propose transferring these tokens to the Arbitrum treasury – rather than being locked forever. The voice received 99.96% approval of token holders.
Arbitrum’s coffers now hold nearly $3 billion in ARB tokens after Sunday’s transfers. blockchain data shows.