The Arbitrum token is officially in the hands of the broader crypto economy. Over 900M $ARB tokens have been claimed thus far, representing a vast majority of the total airdrop supply.

Let's check in how the network is behaving and see what's going on in the Arbitrum economy.

• What are users doing with $ARB? Selling, bridging, holding?
• How's bridging activity? Are airdrop claimers bridging out? Are there non-airdrop allocated users entering the ecosystem - if yes, what are they mostly doing?
• What is the general network activity? Are certain platforms experiencing more or less volume?
• What is trading activity looking like? Are certain tokens being trading most? Are token prices depressed?

This investigation aims to determined the possible applications of the airdropped $ARB. Also, the impacts of this airdrop on the economy and health of the Arbitrum network. For these purposes, this analysis is divided into the following parts:

• Stats related to the airdrop and behavior of the airdrop cliamers
• Application of the $ARB token
• Bridge, trade and trasnfer of $ARB into the CEXs
• Impacts of the $ARB airdrop on the Arbitrum network

Arbitrum is a blockchain and one of the best layer 2 scaling solutions on the Ethereum network. But what does this sentence mean? According to most users of the digital currency market, the speed of Ethereum is too slow and the transaction fee is too high, Ethereum version two (ETH 2.0) will not solve the problem completely. This is where the Arbitrum project comes into play.

Arbitrum is a secondary blockchain that, just like Ethereum, houses many decentralized applications. The big difference between this blockchain and other blockchains independent of Ethereum, such as Solana, is that its native currency is not supposed to be used to pay transaction fees. Fees are paid in Ethereum; Therefore, by having the same features as the Ethereum network and accepting decentralized applications, Arbitrum reduces the load on the Ethereum network.

As a layer 2 scaling solution for Ethereum, Arbitrum has attracted a lot of attention in the cryptocurrency community. The main reason this network is important is its potential to address scalability issues. In less than a week, the Arbitrum team is set to airdrop its native token, ARB, to users who have interacted with Ethereum dApps in the past. Airdrop aims to encourage users to test Arbitrom's network and experience its benefits, such as faster and cheaper transactions. With this airdrop, the team hopes to increase adoption of the network and demonstrate the value of its technology to the wider cryptocurrency community.

Dao Arbitrum has signed a memorandum of understanding with Nansen, a blockchain data analysis company, to identify the activities of eligible users. By creating a snapshot, Nansen will determine who is eligible to receive ARB tokens based on the "number of transactions and duration of network usage as of February 2023."

Arbitrum users can claim their airdrop tokens, if eligible, by visiting gov.arbitrum.foundation and connecting their wallet.

The data provided by Flipside has been used to handle this analysis.

This dashboard is divided into these major sections as below:

1- General airdrop analysis

• Total claimed amount.

• Total airdrop claimers

• Average and median of airdrop volume

• Frequency of usage of Arbitrum network by eligible addresses

• Active days of the eligible addresses

• Age of wallets for eligible addresses

2- Applications of the $ARB token

• What do claimers do with their $ARB? HODL or Sale?
• Share of each sector on $ARB usage
• Programs and actions with $ARB token
• Delegation analysis
• Trade of $ARB
• Bridge analysis
• Transfer $ARB into the CEXs

3- Impacts of the $ARB airdrop on the Arbitrum network

• Count of transactions and paid fee
• Active wallets and attraction of newcomers to the ecosystem
• ETH value of transactions
• General trade pattern after airdrop and popular swap pairs
• Most popular programs on the Arbitrum after $ARB airdrop