Ethereum scaling blockchain Arbitrum has completed the distribution of ARB tokens worth over $120 million to projects on its network.
In March, Arbitrum also conducted airdrop of ARB tokens ranging from 625 to 10,000 tokens to individual users based on their network activities and wallet numbers.
Project developed on Arbitrum, such as the continuous trading protocol GMX and token launchpad Camelot, earned tokens proportionate to their smart contract distributions, user and transaction volume numbers, and other factors. Arbitrum even provided millions of dollars in incentives for projects like Vesta Finance.
Despite holding only $3 million in its treasury, the project earned approxiamtely 2.7 million ARB tokens worth almost $6 million. The project can now sell the tokens to fund its own development or use them to incentivize its users.
For example, reward-focused project PlutusDao said they will use what they earned from the airdrop in ''multiple ways to make the project stronger.''
However, some projects decided to sell their tokens immediately. Game project TridebtDAO put its $175,000 worth of ARB tokens up for sale across three addresses, which drew criticism from the community.
