Huobi, a popular cryptocurrency exchange, has announced that it will soon be adding a new token called ARB to its trading floor.
This token will be operating on the Arbitrum second layer protocol. The developers of ARB, Offchain Labs, have promised to conduct an airdrop on the same day the token is added to the exchange.
The airdrop will only be available to members of the community who have used the network within the last year. Those who receive the new token will have the opportunity to participate in decision-making processes regarding the development and management of the platform.
Arbitrum plans to issue a total of 10 billion ARB tokens, with around 12% being distributed to users of the Arbitrum protocol. Almost 45% of the tokens will be received by investors and employees of Offchain Labs.
Arbitrum runs on the Ethereum blockchain and offers two networks: Arbitrum One and Arbitrum Nova.
The former promises a high level of reliability in DeFi protocols, but slower transaction speeds and higher fees, while the latter is used for gaming and social applications due to its minimal commissions and high transaction speed.
Meanwhile, participants on the PoolTogether platform are already placing bets on whether the distribution of tokens will occur before the end of March or not.
It has also been reported that the volume of trading in the stablecoin TUSD has doubled after major cryptocurrency exchanges, including Huobi, introduced zero commissions for trading TUSD in pairs with leading cryptocurrencies.
Additionally, an article published in February by Bits.media discussed promising crypto exchange tokens in 2023.