How to Claim Arbitrum Airdrop & Deposit ARB on Bybit

On Mar 16, 2023, the Arbitrum Foundation announced the launch of its new token, ARB, and Arbitrum’s transition to a decentralized autonomous organization (DAO). The Arbitrum community owns 56% of the total supply of ARB tokens, with 12.75% being airdropped to eligible users on Mar 23, 2023. The rest of the community-owned tokens will be distributed by the Arbitrum Foundation and DAO over time. The remaining 44% of the total supply will be granted to investors and core contributors.

If you’re one of the lucky ones who are eligible, you’ll be glad to know that Bybit is one of the few exchanges to offer a suite of ARB products you can utilize the Arbitrum airdrops you received:

• Spot: ARB/USDT, ARB/USDC (trade up to 5X leverage on Spot with 60% Collateral Ratio Value)

• Derivatives: ARBUSDT

• Leveraged Token: ARB3L/USDT

• DCA Bot: ARB/USDT, ARB/USDC

• Spot Grid Bot: ARB/USDT

• Copytrading: ARBUSDT

• Futures Grid Bot: ARBUSDT

As part of our ARB Campaign, we also have a few exciting events for you to take part in to win a share of the 400,000 USDT total prize pool. Furthermore, users who stake ARB from Mar 23, 2023 will win a share from the 150,000 ARB prize pool.

Follow our detailed guide to find out how to claim your Arbitrum airdrop and deposit your ARB tokens into your Bybit Spot account for trading. 

How to Claim Arbitrum Airdrop

If you believe you’ve checked all the boxes on the eligibility criteria, you can proceed to the official Arbitrum website to verify your eligibility and view your airdrop entitlement. 

Click the Connect Wallet button and choose your wallet provider: MetaMask, Trust Wallet, Brave or Ledger.

*To facilitate easier understanding, we will use MetaMask as an example.

If you don’t already have the Arbitrum One network on your MetaMask wallet, don’t worry, as a window will pop up to prompt the addition of it.

After checking that the network details are correct, click on Approve and Switch Network.

Once you’ve successfully connected your wallet, you may click on the Check Eligibility button.

If you’re eligible, you should see the number of tokens you’ll receive during the airdrop on the left and see the meaningful actions you have taken on the right. You can also expand the list with the + sign to see more details.

Who Can Claim the Arbitrum Airdrop?

A points system was designed to reward early adopters and determine the number of tokens they would get during the airdrop. Users are awarded a point for every meaningful action that they took before the Feb 6, 2023 snapshot captured at block height #58642080. Users can earn a maximum of 15 points and score a minimum of three points to be eligible for the airdrop. 

How Many ARB Tokens Can I Receive?

Based on the number of points you have earned, you’ll be able to receive the corresponding number of tokens:

How to Deposit ARB on Bybit

After you’ve claimed your ARB tokens from the airdrop on Mar 23, you’ll be able to deposit those tokens into your Bybit Spot account to trade. If you don’t have an account yet, you can register for your Bybit account to get started.

On Desktop

Step 1: Click on Assets on the top right-hand corner of the Bybit home page to be directed to the Assets Page under Spot. 

Step 2: Search for the ARB token in the search column and click on Deposit. Copy your Bybit deposit address.

Step 3: On MetaMask, click on the ARB token and ensure that you are on the Arbitrum One network before clicking on Send. 

Step 4: Input the copied Bybit deposit address into the destination address field on MetaMask. Then, click Send.

Step 5: Wait for the ARB tokens to appear in your Bybit Spot account and then you can trade.

On Mobile

Step 1: Tap on the Assets button at the bottom right corner of the page. 

Step 2: Tap on Deposit.

Step 3: Search for the ARB token in the search bar.

Step 4: You’ll be directed to your Bybit wallet address. Copy this address and input this into your MetaMask destination address field. Then, tap Send.

The Bottom Line

Once you’ve transferred the ARB tokens into your Bybit Spot Trading account, you’ll be able to proceed and trade the ARB/USDT and ARB/USDC Spot Trading pairs. 

With this guide, you’ll be able to claim your ARB airdrop tokens and deposit them into your Bybit Spot account for trading. Get started with trading ARB on Bybit!

#Bybit #TheCryptoArk