Intro:
The Arbitrum Foundation declared the release of its latest digital asset, the ARB token, on Mar 16, 2023, marking the shift to a decentralized autonomous organization (DAO). As of now, 56% of the overall ARB token supply is owned by the Arbitrum community, with 12.75% set to be distributed via airdrop to qualified users on Mar 23, 2023. The Arbitrum Foundation and DAO will dispense the remaining community-owned tokens gradually. Meanwhile, 44% of the total token supply will be allotted to investors and essential contributors.
A Step-by-Step Guide
The Arbitrum network has announced an airdrop of its native token, ARB, to users who have used Ethereum on the Arbitrum network in the past. If you're eligible, this could be a great opportunity to get some free tokens. In this guide, we'll walk you through the steps to claim your ARB token airdrop and how to move your ARB tokens on Newton to start trading. Please note that Arbitrum (ARB) is available for funding and trading via web and android on Newton (iOS support coming shortly)!
Step 1: Go to Arbitrum Website and Connect your Wallet
To claim your ARB tokens, you'll need a wallet that's compatible with the Ethereum network. While Newton isn’t affiliated with or endorses any particular wallets, there are many examples of such wallets including MetaMask, MyEtherWallet, and Trust Wallet. To ensure your eligibility to claim the airdrop, please connect the same wallet that you regularly use to interact with the Arbitrum network.
Please ensure that you're connecting to the correct website. Link can be found here: https://arbitrum.foundation
Step 2: Switch to the Arbitrum One Network
If you haven’t already, this is where you will need to add the Arbitrum One network to your web3 wallet. The website will guide you through how to do this step by step after you connect your wallet, there will be a popup instructions box. If you are already connected to the Arbitrum One Network, you may skip this step.
Step 3: Check Your Eligibility
Before you can claim your ARB tokens, you must ensure that you're eligible. After you connect your wallet, you can check if your wallet is eligible.
To qualify for the airdrop, you need to have interacted with the Ethereum network before Feb 6, 2023 (check the official announcement for more details). If you have, you should be able to claim your tokens.
The amount of ARB tokens you will receive from the airdrop is dependent on your score in the points system that Arbitrum developed. Points are awarded for every meaningful action that was taken before the Feb 6, 2023 snapshot which was at block #58642080. The maximum score is 15 points and the minimum score to be eligible for the airdrop is 3 points.
Step 4: Claim Your Tokens!
This is the fun part! If you’re eligible, you should be able to follow the onscreen instructions and click claim, and the tokens will be deposited into your wallet.
Step 5: Move Your Tokens to Newton
Once you’ve claimed your ARB tokens you can then move them to Newton.
Move your ARB to Newton via web browser:
1. Log into your Newton account.
2. On the right-hand side of the dashboard, navigate to the downwards pointing arrow (Add Funds).
3. Select "Crypto from Wallet".
4. Select coin, network, and generate address:
- Select the cryptocurrency you are adding with the currency selector ("Choose Coin").
- Select the network to use for the transfer. (Note, in terms of the Arbitrum airdrop, please use the Arbitrum One network. We do not support the Arbitrum Nova network at this time. Funds sent via the Arbitrum Nova network cannot be recovered).
- Then click "Generate Address" to create and display your funding address.
For example, if you are adding Bitcoin on the Bitcoin Network, you would select "Bitcoin" with the coin selector and the network will default to "Bitcoin".
5. Scan the QR code using your external wallet you will be sending the funds from - or copy the address in Newton and paste it into the destination field in your external wallet and send your funds.
Move your ARB to Newton via the mobile app:
1. Open the Newton mobile app and log into your account.
2. Tap the Transfer icon at the bottom.
3. Navigate to the "ADD FUNDS" tab and select "Crypto from Wallet".
4. Select coin, network and generate address:
- Select the cryptocurrency you are adding with the currency selector ("Choose Coin").
- Select the network to use for the transfer (Note, in terms of the Arbitrum airdrop, please use the Arbitrum One network. We do not support the Arbitrum Nova network at this time. Funds sent via the Arbitrum Nova network cannot be recovered).
- Then click "Generate Address" to create and display your funding address.
5. Scan the QR code using your external wallet you will be sending the funds from - or copy the address in Newton and paste it into the destination field in your external wallet and send your funds.
Once you’ve transferred your ARB to Newton you can now trade it if you wish to do so.
Please note that Arbitrum (ARB) is now available for funding and trading via web and android on Newton (iOS support coming shortly)!
If you’re not already a Newton user you can signup at the link here: https://web.newton.co/signup
Note: When funding your account with Arbitrum, please ensure that you use the Arbitrum One network. We do not support the Arbitrum Nova network at this time. Funds sent via the Arbitrum Nova network cannot be recovered.
