Arbitrum Airdrops $120M to Projects; Some Dump, Some Look to Bolster Themselves
For some, like Vesta Finance, the airdrop provided a multimillion-dollar stimulus: The project was eligible for 2.7 million arb tokens, worth just under $6 million, despite holding only $3 million in its treasury. This can allow the project to, over time, sell the tokens to bolster its own development or even provide token incentives to users to further jumpstart activity.
