What is Arbitrum?
Arbitrum , a layer 2 solution for Ethereum may soon launch its native token and here is a guide on how to prepare for the upcoming Arbitrum Airdrop which may value anywhere from around $2,000-$50,000.
A layer 2 solution called Arbitrum is designed to improve Ethereum smart contracts’ functionality by increasing their speed and scalability and, in addition, by introducing more privacy features.
The platform is intended to let programmers take advantage of Ethereum’s top-notch layer 1 security while running unmodified Ethereum Virtual Machine (EVM) contracts and transactions on a second layer.
It is designed to address some of the drawbacks of existing Ethereum-based smart contracts, namely their low efficiency and high execution costs, which have harmed the Ethereum user experience and frequently make transacting expensive.
Arbitrum has two chains, Arbitrum One and Arbitrum Nova. Arbitrum One is made for dapps, wallets and Defi tools whereas Arbitrum Nova is for Web3 social and gaming.
Will Arbitrum launch its own token like Optimism?
There is no native token of the Arbitrum ecosystem as of now however it is expected to launch its own native token by 2023. Like Optimism, Arbitrum is expected to reward those who have been instrumental as early adopters and active users of projects in the Arbitrum ecosystem.
Criteria used to airdrop OP(Optimism) token
As Optimism and Arbitrum are both Layer-2 solutions for Ethereum the criteria used to airdrop OP maybe similar when Arbitrum token is launched. OP token is trading at around $3 at the time of writing this article. The current value of the airdrop ranges from $750 – $75,000 for Optimism users who met their airdrop criteria.
How to qualify for the Arbitrum Airdrop. Step-by-step guide
1. First add Arbitrum One and Arbitrum Nova to Metamask.
For the tasks given below, do not use a new wallet, use a wallet which you use on a regular basis and has a reputation the blockchain. New wallets will filtered out as “Sybils” and you will not qualify for the airdrop.
Go to chainlist.org. and connect your Metamask wallet.
Go to search and type “Arbitrum”
Click on “Add to Metamask” for Arbitrum One and approve on the metamask wallet.
Click on “Add to Metamask” for Arbitrum Nova and approve on the metamask wallet.
Now, you have successfully connected your Metamask wallet to the Arbitrum One and Arbitrum Nova network.
2. Bridge ETH from Ethereum to Arbitrum Network
Go to bridge.arbitrum.io and connect your Metamask wallet.
Brigde atleast 0.05 ETH from the Ethereum mainnet to Arbitrum One and Arbitrum Nova each.
Wait for 5-10 minutes till the funds arrive at Arbitrum.
3. Tasks for the Arbitrum One Chain
The tasks given below should be done slowly and over a period of 1-2 weeks. It should seem that you are a active member of the Arbitrum ecosystem.
- Go to tofunft.com and get one Arbitrum Odyssey NFT.
- 2. Go to https://portal.arbitrum.one/ . Choose any one or two decentralized platforms like Uniswap and 1 inch. Make some small swaps so that there are some more transactions recorded in the Arbitrum Chain.
- Go to https://guild.xyz/arbitrum . Try to complete as many tasks given in the Guild.
- Try to complete the Arbitrum Adventure tasks. Go to https://beta.layer3.xyz/quests/introduction-to-arbitrum .
4. Tasks for Arbitrum Nova Chain
- Go to https://tofunft.com/arbi-nova and purchase one or two low value NFT’s.
- Go to https://portal.arbitrum.io/nova . Transact in one or two dapps in the Nova ecosystem.
Imprtant Note: There is no assurance that Arbitrum will conduct an airdrop and introduce their own token. It’s just speculation.
5. Prove you are a Human
To prove that you are a human and not a Sybil identity use an identity verification application like Gitcoin passport and Galxe passport. The team while sorting out the potential airdrop receiver will use a Sybil filter. Identity verification is important so that you do not get filtered out.
