The scaling solution on Ethereum, Arbitrum’s homepage crashed due to a sudden spike in users just after it opened the claiming for its most awaited governance tokens, the $ARB token. Apart from this, its linked analytic platform, Arbiscan also faced disruption in showing on-chain data.
Arbiscan stated in the tweet it surpassed Etherscan’s peak traffic last year, which shows soaring demand for scaling solutions like Arbiscan.
Arbitrum also hit an all time high daily transactions and unique wallets interacting with the network following the ARB token airdrop.
The website was showing a 429 error that commonly prompts after the abruptly high user activity on the website. While the Arbiscan website repeatedly displayed “The service is unavailable.”
Arbitrum announced the $ARB token’s airdrop on March 16 that officially marks the conversion of Arbitrum into a decentralised autonomous organisation (DAO). Through $ARB tokens, users can participate in voting to make decisions about the protocol.
As per the reliable source, the eligible wallets will get 625 $ARB tokens, though fully eligible wallets that mark all checklists would get 10,250 tokens.
However, after claiming tokens, most token holders started selling their $ARB tokens as the price of ARB fell from a high of $8.67 to $1.4 in the first 30 minutes after the claims began, according to CoinGecko.
As per the latest update, both errors on Arbitrum’s homepage and Arbiscan have been resolved.
Also Read: Scammers are Targeting Arbitrum Airdrops: Stay Safe!
