According to CoinDesk, the Arbitrum Foundation has transferred 69 million unclaimed ARB tokens to the network's treasury as the claim period for the tokens ended over the weekend. The unclaimed rewards represent 0.69% of ARB's total supply of 10 billion. Data from a Dune Analytics dashboard shows that 93% of eligible users had claimed the tokens.
The tokens are worth over $59 million at current prices. ARB tokens were airdropped to eligible users in late March, with over 42 million tokens claimed by 23,000 unique users hours after going live. Airdrops refer to the unsolicited and/or automatic transfer of tokens from projects to crypto users.
The claims deadline was set on September 24 after ARB went live. A governance vote in August saw Arbitrum community member yoav.eth propose that these tokens be transferred to the Arbitrum treasury instead of being locked forever. The vote received 99.96% approval from token holders. Following Sunday's transfers, Arbitrum's treasury now holds nearly $3 billion worth of ARB tokens, according to blockchain data.
