The Arbitrum Foundation said on Thursday that ARB, Arbritrum’s new token, will be airdropped to community members on Thursday, March 23

The long-awaited ARB token will grant holders the ability to vote on changes to the leading Ethereum layer 2 network.

The ARB token will serve governance purposes and will have an initial supply cap of 10 billion.

11.62% of it (1.162B tokens) will go toward the airdrop. 1.13% will go to DAOs who helped build applications on Arbitrum.