Arbitrum Airdrop Latest Update: The Foundation Vision For A Decentralized Future
- The DAO airdrop intends to distribute tokens to Arbitrum DAOs to spread governance power more widely among users.
- Only projects with a DAO and a community treasury were eligible to participate in the distribution of tokens.
- Empowering sub-communities to make their own governance decisions is a logical next step to ensure that protocols have the power to decide how governance is distributed within their communities.
The past week has been an exciting time in the world of cryptocurrency, with the community rallying together to show their support. As a result, the Foundation is proud to announce the details of the DAO airdrop, which aims to reach the sub-communities of Arbitrum.
The core principle behind this airdrop is to ensure that protocols have the power to decide how governance is distributed within their communities. The Foundation recognizes that this cannot be done alone; that is where the DAO airdrop comes in. Only projects on Arbitrum with a DAO and a community treasury were eligible to participate in this distribution, with the exception of ProtocolGuild, a collective of Ethereum core devs and contributors.
It is important to note that this is not a retroactive grant but rather a way to empower sub-communities on Arbitrum to make their own governance decisions. Each protocol knows its community best, and allowing these DAOs to determine what is best for their community is the logical next step.
Several factors were considered for distributing tokens to DAO treasuries on Arbitrum, including deployment date, whether it is multi-chain or Arbitrum-native, transaction volume and value, total value locked (TVL), and native liquidity moved to the ecosystem. Duration was also taken into account.
It is worth mentioning that the DAO airdrop was not a replacement for a grants program for both eligible and ineligible projects. However, the Foundation/DAO will soon begin grants programs, which will be an available avenue for further distribution of tokens as deemed appropriate by the DAO.
The hope and intention behind distributing tokens to Arbitrum DAOs is to spread governance power more widely amongst users, rather than allocating it solely to those who were eligible for the airdrop. By empowering sub-communities to make their own governance decisions, the Foundation is supporting the democratization of cryptocurrency governance.
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