As the deadline for claiming ARB tokens expired over the weekend, the Arbitrum Foundation announced on Sunday that it had moved 69 million unclaimed tokens to the network’s treasury.
The tokens, which account for 0.69% of the total supply of 10 billion ARB, are valued at more than $59 million at current market rates.
ARB tokens were distributed to eligible users in a massive airdrop in late March, which saw over 42 million tokens claimed by 23,000 unique users within hours of launch.
According to a Dune Analytics dashboard, 93% of the eligible users had claimed their tokens.
