Binance will list the Arbitrum network’s native token on March 23

The possibility of withdrawing coins will become available after 24 hours

20.03.2023 - 12:15

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What’s new? Crypto exchange Binance will list the Arbitrum (ARB) network’s native token and open trading of the asset in pairs with BTC and USDT stablecoin on March 23 at 17:00 UTC. On the same day, the developers will launch the asset and conduct an airdrop of ARB among network members, which will mark the official transition of Arbitrum to the format of a decentralized autonomous organization (DAO). The option to withdraw coins from Binance will become available on March 24 at 17:00 UTC. Within 48 hours of listing, the exchange will add ARB as a leveraged asset for a margin pair with USDT.

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Arbitrum is a Layer 2 (L2) network for scaling the Ethereum blockchain, developed by Offchain Labs. It uses Optimistic Rollup technology to aggregate large packets of off-network transactions from Ethereum smart contracts and decentralized applications (DApps) before sending them to Ethereum.

What is known about ARB? The ARB token is for protocol governance only. The governance process of the Arbitrum DAO will be self-executing, votes can be used to directly modify Arbitrum’s core code.

Crypto exchange Huobi also announced the listing of ARB on the day of the launch of the asset. Starting March 17, 12:00 UTC, users can make deposits, and trading in ARB/USDT and ARB/USDD pairs will open “when the deposit volume meets the demand of market trading.”

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MetaMask wallet added support for Arbitrum to its bridge aggregator in February.

On March 2, $136 000 was withdrawn from the Arbitrum-based ArbiSwap exchange’s liquidity pools, causing the ARBI exchange token to collapse by 99,9%. The community accused the exchange team of fraud using the Rug Pull scheme.

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