Categories: FintTechMenafn

Binance And BitMex To List Arbitrum’s ARB Token After Mar. 23 Airdrop

Summary:

  • Arbitrum’s hyped ARB governance token will list on major crypto centralized exchanges Binance and BitMex.
  • Binance announced spot pairs for ARB in Bitcoin and Tether’s USDT with an option for Margin trading.
  • BitMex will list an ARB/USDT futures contract and enable up to 20x leverage trading for users.
  • The listing news was shared ahead of Arbitrum’s token airdrop scheduled for Thursday, Mar. 23.

Major crypto centralized exchanges Binance and Bitmex announced support for Arbitrum’s upcoming ARB token airdrop scheduled for Thursday, Mar. 23.

Arbitrum’s ARB is “tentatively set to open trading for these spot trading pairs at 2023-03-23 17:00 (UTC)”, Binance said on Monday. The crypto exchange will list two spot pairs for traders – ARB/BTC and ARB/USDT. This will allow users to trade ARB against crypto’s largest coin and USDT, the biggest U.S. dollar-pegged stablecoin on the market.

Binance plans to open ARB deposits once token claims kick off at Ethereum block height 16,890,400 while withdrawals will be enabled roughly five to six hours after. The leading exchange also announced isolated margin trading for the ARB/USDT pair 48 hours after ARB withdrawals officially open.

Crypto derivatives exchange BitMex also unveiled futures trading for the ARB token. According to a BitMex announcement tweet on Monday, ARB/USDT futures contract will go live on the exchange ahead of Thursday’s airdrop. BitMex traders can trade ARB/USDT will up to 20x leverage, the platform noted.

https://twitter.com/BitMEX/status/1637652936196235265?ref_src=twsrc%5Etfw” rel=”nofollow noopener

Arbitrum’s ARB Governance Token Airdrop

On Mar. 16, the Arbitrum Foundation unveiled the ARB token airdrop for users and active network participants. ARB was announced as the governance token for Abritrum’s ecosystem, along with a self-executing decentralized autonomous organization (DAO), a licensing initiative, and Layer 3 developers kit for builders.

The Ethereum L2 scaling protocol worked closely with on-chain data aggregator Nansen to flesh out eligibility criteria for the airdrop, said CEO of Offchain Labs and Arbitrum creator, Steven Goldfeder.

A snapshot was taken on Feb. 6 to confirm active users on the network over the past year. Eligible users will be able to claim tokens from Thursday. The L2 scaling solution allocated 12.75% of ARB’s total supply to the community via an airdrop. 11.5% was earmarked for users while 1.25% will be distributed to DAOs and project building on Arbitrum.

Ryan Helton

A Stock enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with eTrendy Stock as a contributor for most stock category and his articles are always well-researched and accurate.

Recent Posts

Ethereum Price Prediction: Can ETH Sustain Its Bullish Momentum as Price Surges 15%?

Ethereum is back in the spotlight, not for explosive price action, although it has made…

10 hours ago

Ajman Bank Successfully Prices USD 500 million Inaugural 5 Year Sukuk

Ajman, UAE, 25th April 2025, Ajman Bank P.J.S.C. (“Ajman Bank” or “the Bank”), the first Islamic…

19 hours ago

The Rise of Autonomous Finance: How 9M is turning AI into a fully operational investment system

The Rise of Autonomous Finance: How 9M is turning AI into a fully operational investment…

19 hours ago

Echo Launches Real Unique Tokenomics with Real Yield in USDC

Douglas, Isle of Man, 25th April 2025, ZEX PR WIRE, Echo is about to launch…

20 hours ago

World of Dypians Wins $450K in BNB Chain’s Support Program and Announces Monumental New Features

Tortola, BVI, 25th April 2025, ZEX PR WIRE, World of Dypians (WoD), a highly immersive…

21 hours ago

Hyperliquid Price Analysis: HYPER Eyes $20 as Price Tests Critical Resistance

Hyperliquid (HYPE) has staged an impressive climb, doubling in price since its low of $9.30 on…

22 hours ago