Coinbase, a leading cryptocurrency exchange in the US, has included $ARB, a crypto asset from Arbitrum, a scaling solution on Ethereum (ETH), in its listing roadmap.
This move is in anticipation of the token’s airdrop that is scheduled for March 23rd. $ARB is a layer-2 altcoin that is set to be governed by a self-executing decentralized autonomous organization (DAO), as announced by the project’s developers.
Arbitrum officials created a special points system that considers various metrics to determine which users will receive the crypto assets.
Coinbase established the listing roadmap to enhance transparency and avoid front-running their listing announcements. Other major exchanges such as Binance, MEXC, Huobi, Bybit, and Bitrue have also expressed their intent to list $ARB.
READ MORE: Bitcoin: Is the Market Overbought or Just Getting Started?
Arbitrum is currently ranked fourth among all chains in terms of total value locked (TVL) with $1.99 billion, following Ethereum, Tron (TRX), and BNB Smart Chain, as reported by the decentralized finance tracker DeFi Llama.
The TVL of a blockchain represents the total capital held within its smart contracts. It is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.
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