Arbitrum Users Claim 42M ARB Tokens in First Hour of Airdrop

Users likely claimed the tokens by interacting with the smart contract directly as blockchain scanners and the website were temporarily down.

AccessTimeIconMar 23, 2023 at 1:57 p.m. UTC
Updated Mar 23, 2023 at 3:08 p.m. UTC

More than 42 million arb tokens were claimed in the first hour as Arbitrum's much-anticipated token airdrop went live on Thursday, Nansen data shows.

  • Some 23,000 individual wallets claimed the airdrop, representing 3% of all eligible wallets.
  • ARB has a total supply of 10 billion, according to technical documents. It traded at just over $1.30 at the time of this writing on Thursday.
  • Arbitrum's website and blockchain scanner was down ahead of the ARB token claim event amid massive interest from token users. "This Serverless Function was rate limited," a prompt on the site stated.
  • The long-awaited Arbitrum token made its market debut Thursday, trading at $3.99 on Uniswap as volatility spiked on decentralized exchanges.
Arbitrum airdrop wallet distribution. (Nansen)
Arbitrum airdrop wallet distribution. (Nansen)
  • Of the 625,000 total eligible wallets, 445,000 received an airdrop of fewer than 2,000 ARB tokens, representing the majority of claimers.

(This is a developing story.)


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.