According to @BitcoinEmber’s monitoring, among the 125 projects that received ARB from the Arbitrum Foundation, 4 have directly sold all/most of the ARB they received (rather than using these ARBs to incentivize their own project users), namely: The Damned Pirates Society (150,000), Trident (257,540), xToken Terminal (35,000), and Rice Wallet (12,500).
