The Arbitrum Foundation, the entity at the back of the Arbitrum blockchain, launched that it has moved 69,448,385 unclaimed ARB tokens to the decentralized self sustaining group’s (DAO) Treasury.

In an X put up on Sunday, the Arbitrum Foundation notified users of the switch, cautioning them to be wary of scams provided that these tokens can no longer be claimed. On the time of writing, ARB was trading at $0.82, making the cost of the unclaimed tokens price around $59 million.

The tokens signify the unclaimed rewards that had been dispensed to eligible users by process of an airdrop in boring March.

In step with data compiled by Blockwork’s Research on Dune, minute more than 93% of ARB tokens had been claimed in the airdrop – an unsurprising figure, brooding about the anticipation that surrounded the match in the weeks leading up to it.

A total of 583,138 eligible addresses claimed rather over 1 billion ARB tokens.

The notion for Arbitrum to reclaim possession over these unclaimed tokens was self-discipline in motion on Aug. 22. An amazing majority of the neighborhood voted in opt of yoav.eth’s proposal to switch the tokens to the challenge’s Treasury as an different of sending them to an take care of the effect they’d accept as true with been locked perpetually.

The Arbitrum Foundation now holds nearly about $3 billion price of ARB tokens in its DAO Treasury.