The highly anticipated launch and airdrop of Arbitrum's native governance token ARB took place on March 23, creating a buzz around the layer-2 protocol as hundreds of thousands of eligible users and DAOs tried to claim the token. Overwhelming user demand led the airdrop claim page to crash shortly after its launch, displaying 404 and 429 errors for over an hour, Cointelegraph reported.
Since Arbitrum was one of the largest blockchain projects without a token, the hype around its drop was expected. Nevertheless, it exemplifies how community-driven projects in the space can still thrive, despite competitors, technical challenges, market downturns and regulatory uncertainty.