Arbitrum (ARB) is presented with a fresh opportunity to enhance its reputation with a new initiative. After the recent token buyback campaign, a governance proposal has been put forth to offer crypto airdrops as an incentive to early backers.
Facing a substantial drop of over 80% from its peak in December 2024, Arbitrum is focusing on strategies to revive its value.
A proposal in the governance forum suggests providing airdrops to early supporters who voluntarily returned ARB tokens during the first airdrop in March 2023. The aim is to strengthen community trust, encourage positive participation in governance, and rebuild the network's standing.
The proposed plan involves distributing crypto airdrops proportionate to the amount of tokens returned, ensuring a minimum threshold level for eligible rewards. If approved, the allocations will be distributed on-chain through Arbitrum One (Layer 2) to minimize fees and enhance ecosystem utilization.
Recipients may receive temporary voting delegation options to promote engagement in governance, with final decisions resting with the Arbitrum DAO. Any necessary adjustments will be communicated through public notices and decided by DAO voting.
The proposal is open for community feedback and discussion within the governance forum through three poll options: "Yes: Proceed with the upgraded ARB token reward for eligible wallets", "No: Do not proceed at this time", and "Abstain".
In its efforts to restore trust and value after a significant price drop, Arbitrum also recently introduced a token buyback plan. Despite these initiatives, the ARB token remains considerably below its previous peak. The network is focused on providing users with the flexibility to select their preferred gas token for projects on Arbitrum.
The introduction of gas token customization on Arbitrum aims to allow users to tailor their configurations across all Arbitrum chains. This move has garnered community excitement, offering users the choice to utilize the Arbitrum bridge for Ethereum token exchanges.
Arbitrum is striving to address concerns that token buybacks alone may not be sufficient to rebuild its reputation, with efforts ongoing to drive sustainable growth and strategic value in the network.