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Fortune

Ben Weiss

Arbitrum, a leading scaling solution for Ethereum, will finally have a native cryptocurrency

Arbitrum Ethereum Cryptocurrency Fortune blockchain

An illustration of three gold coins with Ethereum's logo that are fading into the background. (Credit: Photo illustration by Fortune; Original photo by Getty Images)

Offchain Labs, the developer behind the Arbitrum ecosystem, announced on Wednesday it would be airdropping, or releasing for free to select individuals, $ARB, a new token designed to govern the two Arbitrum blockchains.

The new cryptocurrency will be released on March 23 and sent to users of Arbitrum One, the larger of the two blockchains, and Arbitrum Nova, specifically designed for Web3 games and social media applications.

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