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Arbitrum airdrop: How to qualify for L2 solution’s ARBI token

By Raphael Sanis

Edited by Charlie Mellor

09:59, 3 October 2022

An illustration of a cryptocurrency airdrop featuring ether tokens hanging from parachutes
Arbitrum is an Ethereum Layer 2 solution that is bringing faster transactions and more scalability – Photo: Shutterstock

There has been speculation for some time that Arbitrum, an Ethereum (ETH) Layer 2 solution, would release its own token.

Investors are now theorising about the criteria for an ARBI airdrop, an event where free tokens are sent to early users’ wallets.

ETH to USD

What can we learn from Optimism?

After its competitor Optimism released its OP token in April,  Abritrum’s co-founder posted a cryptic tweet that suggested an ARBI token was imminent. Steven Goldfeder said: “The appetizer is always served before the main course.”

As a close rival, investors are looking towards the optimism airdrop to try to find parallels with a potential ARBI airdrop.

There were various criteria that made you eligible to receive free OP tokens. Investors could have bridged funds to the Layer 2 solution in the early days of the protocol or made a transaction once a week for four weeks.

Those who have bridged from a different Layer 1, like Terra or Solana, to Optimsism were able to receive OP tokens as well.

Voters on the decentralised autonomous organisation (DAO) could also qualify, along with investors holding multi-signature wallets to secure the Optimism protocol.

SOL/USD

174.44 Price
-0.560% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

DOGE/USD

0.13 Price
-0.120% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

ETH/USD

3,446.46 Price
-1.220% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

XRP/USD

0.60 Price
+0.160% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

Potential Arbitrum criteria

Johnny Pedro, head of partnerships at the crypto marketing agency Lunar Strategy, who goes by the Twitter user name Defi Riddler, suggested various criteria to consider in a Twitter thread.

He firstly said those who took part in the Arbitrum Odyssey campaign, a non-fungible token (NFT) event, could qualify for the airdrop. 

Pedro also recommended bridging funds from Ethereum and making transactions on the Arbitrum mainnet, along with frequently interacting with Arbitrum’s many decentralised applications (dApps).

This was echoed by Airdrop.io, a website dedicated towards aggregating airdrop information. It said:

“Arbitrum doesn’t have a token yet and could potentially have one in the future. There’s a chance that they may do an airdrop to users who’ve used their bridge.”

Other suggestions from Pedro included joining the official Arbitrum Discord channel and completing some of its quests, which usually require holding different tokens.

Its important to remember that this is all speculation. Arbitrum’s token has not even been confirmed yet, let alone an airdrop event. Investors should take this into consideration before participating in any potential airdrop criteria.

Markets in this article

ETH/USD
Ethereum / USD
3446.46 USD
-42.45 -1.220%

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The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
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