Top US crypto exchange Coinbase has added Arbitrum’s upcoming crypto asset, ARB, to its listing roadmap, in anticipation of the token’s airdrop later this week.
With Arbitrum, an Ethereum (ETH) scaling solution, planning to airdrop 12.75% of the ARB token’s supply on Thursday, March 23rd, Coinbase is adding the layer-2 altcoin to its roadmap.
“Asset added to the roadmap today: Arbitrum (ARB).”
The project’s developers announced the airdrop last week, outlining the protocol’s upcoming plans to switch to being governed by a self-executing decentralized autonomous organization (DAO). The Arbitrum officials say they created a special points system that takes into account a variety of metrics to determine which users will receive the crypto assets.
Coinbase created the listing roadmap last year to increase transparency and reduce the possibility of front-running their listing announcements.
It’s not the only major exchange to roll out support for ARB. Binance also said on Monday that it planned to list the token on Thursday.
Last week, at least four other major crypto exchanges also announced their intention to list the highly anticipated new crypto asset, including MEXC, Huobi, Bybit, and Bitrue.
Arbitrum currently ranks fourth among all chains in terms of total value locked (TVL) with $1.98 billion, behind Ethereum, Tron (TRX) and BNB Smart Chain, according to the decentralized finance tracker DeFi Llama Polygon (MATIC) is fifth, with $1.08 billion in TVL.
The TVL of a blockchain represents the total capital held within its smart contracts.
TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.
Generated Image: Midjourney
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