New Coin Listing - Trade Arbitrum (ARB) on Obiex Now
The Arbitrum token is the latest hot coin on the market. Here's a quick explainer of what Arbitrum is, where to buy Arbitrum tokens and how to buy ARB on Obiex.
What is Arbitrum (ARB)?
Arbitrum is a smart contract which helps the Ethereum blockchain process transactions. For more context, a smart contract is a computer program that helps complete and process cryptocurrency transactions.
Ethereum is an efficient blockchain, but sometimes, transactions become too much to process. This transaction overflow is because Ethereum has become very popular for activities like buying and selling digital art and decentralised finance (DeFi).
This popularity causes the Ethereum system to become occasionally congested, making transactions expensive and slow.
To solve this problem, the Ethereum team is working on both on-chain (within the blockchain) and off-chain (outside of the blockchain) solutions to improve its processing capacity.
Arbitrum was developed by Offchain Labs in 2021 as a solution to improve the efficiency of the Ethereum blockchain by increasing transaction speed and reducing trading fees.
What is the Arbitrum token (ARB)?
$ARB is the native governance token of Arbitrum.
This governance token allows its holders to vote in decisions related to how the Arbitrum smart contract and foundation works. The release of this token means that Arbitrum is now a decentralised autonomous organisation (DAO).
A decentralised autonomous organisation is a type of organisation that uses computer programs called smart contracts to run its operations and make decisions.
Instead of relying on a central authority like typical organisations, it relies on a decentralised voting process where token holders can vote on proposals, and the results are automatically executed through smart contracts.
The goal of a DAO is to create a transparent and democratic way of making decisions and running an organisation.
Today The Arbitrum Foundation is extremely excited to announce the launch of DAO governance for the Arbitrum One and Arbitrum Nova networks, alongside the launch of $ARB. https://t.co/TB3wG0QK0v
— Arbitrum (💙,🧡) (@arbitrum) March 16, 2023
When is the Arbitrum Token Launching?
The Arbitrum Foundation announced the launch of the ARB token on March 16, 2023, via their Twitter account. The ARB airdrop will be distributed to eligible Arbitrum participants, and claiming begins today, March 23, 2023.
2/ Arbitrum is decentralizing by launching its governance token $ARB to transition towards self-executing DAO governance.
— Delphi Digital (@Delphi_Digital) March 22, 2023
12.75% of its supply, or 1.275 billion tokens will be distributed to Arbitrum community members and DAOs in the Arbitrum ecosystem. pic.twitter.com/FqVkx5FQ7H
How much $ARB will eligible traders receive?
Most eligible traders would receive about 625 $ARB tokens, while others would receive about 10,250 tokens. In total, Arbitrum users will receive 1.162 billion ARB via airdrop to their wallet addresses.
How much is ARB currently worth?
According to CoinGecko, $ARB hit a high of $8.65 but has since fallen down to $2.02 (a -72.07% price reduction in the last 24 hours )
The Arbitrum token currently has a Market Cap of $1,765,792,291 and a 24 Hour Trading Vol of $648,985,814.
Where to Buy Arbitrum (ARB) Token
The Arbitrum Token (ARB) is available on Obiex for buying, selling, swapping and trading.
How to buy Arbitrum token on Obiex
- Sign in to Obiex with your registered email and password. If you don’t have an obiex account, click here to create one in less than 2 minutes.
- Tap the swap button and select USDT, BUSD OR USDC from the "from" coin list.
- Select ARB from the "select coin" list.
- Select and confirm the coin amount you want to exchange.
- The swapped amount of ARB is now in your ARB wallet.
How to Swap from ARB to other coins on Obiex
- Sign in to Obiex with your registered email and password. If you don’t have an obiex account, click here to create one in less than 2 minutes.
- Tap the swap button and select ARB from the "from" coin list.
- Select USDT, BUSD OR USDC from the "select coin" list.
- Select and confirm the coin amount you want to exchange.
- The swapped amount of the coin is now in your wallet.
Disclaimer: This article was written by the writer to provide guidance and understanding of cryptocurrency trading. It is not an exhaustive article and should not be taken as financial advice. Obiex will not be held liable for your investment decisions.
