Arbitrum

What is Arbitrum (ARB)?

ARB is Arbitrum’s native token, which is Layer 2 scaling solution based on Ethereum. They work at Arbitrum optimistic reports and relies on and relies on the compatibility and security of Ethereum. However, compared to Ethereum, Arbitrum has lower commissions. Moreover, this more scalable, faster and has higher throughput.

It is also worth noting that Arbitrum has dynamic DeFi ecosystem which consists of various tools, decentralized applications (dApps) and so on.

To see the current price of ARB, check out the Arbitrum price chart above.

Options for using ARB tokens

ARB is Arbitrum’s native governance token.. When the platform handed over control to the community and became decentralized autonomous organization (DAO)The Arbitrum token became a means of giving community members voting rights. They can vote on a wide variety of issues, including upcoming functions, Arbitrum updates, Security Council elections, distribution of funds, and so on. In addition, ARB token holders can also make suggestions for various changes.

Moreover, ARB tokens can be staked generate rewards and protect the network. However, please note that ARB cannot be used to cover network fees. Instead, arbitration fees are covered by ETH or other tokens based ERK-20 token standard.

If you are planning to purchase ARB crypto assets, be sure to analyze the Arbitrum price chart in advance. It shows the current and previous ARB price.

Who founded Arbitrum?

Offchain laboratories developed the Arbitrum crypto project. Offchain Labs is a development company founded Stephen Goldfeder, Ed Felten and Harry Kalodner.

Stephen Goldfeder is the Chief Executive Officer of Offchain Labs. He is an entrepreneur and computer scientist with a Ph.D. from Princeton.

Ed Felten is the Chief Scientist at Offchain Labs. Felten was formerly Barack Obama’s deputy chief technology officer. In addition to his work at Offchain Labs, he is also a professor of computer science at Princeton University.

Harry Kalodner is the CTO of Offchain Labs. He also holds a Ph.D. in computer science from Princeton.

Tokenomics of ARB

At the time of writing, there is no maximum supply set. However, The initial total supply of Arbitrum coins is 10 billion. The ARB token generation event took place on March 23, 2023. Arbitrum tokens were distributed as follows:

• Treasury Arbitrum DAO – 42.78%;
• Offchain Labs team and consultants – 26.94%;
• Investors – 17.53%;
• Airdrop to early Arbitrum users – 11.62%;
• Airdrop in DAO – 1.13%.