Top cryptocurrency exchange Binance has announced that it will list Arbitrum (ARB) and that trading for Arbitrum (ARB) spot pairs will ostensibly begin on March 23 at 5:00 p.m. UTC.
Binance will list two new spot trading pairs with the tickers ARB/BTC and ARB/USDT. Users can deposit in preparation for trading once the official token claim is live at the Ethereum block height of 16,890,400, estimated to be around March 23 at 12:30 p.m. UTC.
#Binance is listing @arbitrum $ARB.— Binance (@binance) March 20, 2023
➡️ https://t.co/6YOugDSXrU pic.twitter.com/jnamYKI71U
Furthermore, ARB withdrawals are anticipated to open on March 24 at 5:00 p.m. (UTC). In addition, Binance says it will add ARB as a borrowable new asset, with the new ARB/USDT margin pair on an isolated margin within 48 hours from March 23 at 5:00 p.m. UTC.
One of the oldest crypto exchanges in the crypto space, Poloniex, also announced it will list Arbitrum (ARB). The deposit for ARB will commence on March 23, 2023, at noon (UTC), while trading for ARB/USDT is set to begin on March 23, 2023, although the exact timing is yet to be confirmed.
ARB is the native governance token of Arbitrum, a Layer 2 scaling solution project for Ethereum, with an initial supply cap of 10 billion at launch.
The Arbitrum token is majority community-owned (over 56%). Of this community allocation, 12.75% will be distributed in the Arbitrum Airdrop this Thursday, March 23, based on data taken in a snapshot on Feb. 6, 2023.
Lookonchain estimates that 1.162 billion Arbitrum tokens will be airdropped on March 23.
The Arbitrum Foundation and DAO will be charged with the responsibility of distributing the remaining community tokens over time.
According to Nansen, 625,143 addresses are eligible, or 28% of those that bridged to Arbitrum One before Feb. 6, 2023.