📌Arbitrum DAO’s launch teaches some painful lessons

Arbitrum is the biggest Ethereum L2 by TVL, double that of its closest competitor (Optimism) and capturing over 58% of the market.

Yesterday, Arbitrum officially launched its DAO by airdropping the ARB token and thus beginning the handing over of its governance to the community.

The token launch was rocky. With Arbiscan down due to a possible DDoS attack, only bots and developers could claim, leaving others very angry.

❕It took hours for claiming to start working.

Many of the over 600,000 wallets eligible for claiming ARB belonged to airdrop farmers (with one person often holding many eligible wallets) who generally look to dump the token onto the market ASAP. Still, many held and bought ARB, looking forward to participate in its governance.

They are the builders who want to participate in Arbitrum DAO’s governance. Will they now be reluctant to govern? Will they dump their tokens along with the airdrop farmers?