It's Arbitrum Time
gm gm everyone and happy Killa Friday! We hope your week was absolutely fantastic - get yourself ready though, because a great weekend is coming your way.
RELaiTED News
A week or so after launching RELaiTED and we couldn’t be more stoked about what we have planned and who is in our community! Keep an eye out this upcoming Monday for a RELaiTED spaces, which will take place every Monday from here on out at 11AM EST!
General Market News
$ETH is in much better shape right now than it was at the same time last week - up almost 30% from the lows.
Unfortunately however, that meant that NFTs have generally taken a beating while Eth rips and the uncertainty of some greater macro banking issues linger.
If you’ve been chopping yourself up lately and unsure of which moves to make, I really recommend this little tidbit of advice from our friend Hinkie.
All of that, however, pales in comparison to the real news that dropped the other day.
Arbitrum Token is Coming
Arbitrum announced yesterday that they were officially launching their long-rumored token, and that it was coming on March 23rd.
Now, let me take a second just to say that many of us have been waiting for this token forever - in fact, most of the stuff I did to be eligible for the airdrop I did within weeks of the launch of the chain itself. And by most of the stuff I did I generally just mean all of the rugging of me took place pretty close to the launch.
For a while, many people didn’t think it’d ever come (Arbitrum also shot it down). Now, however, the day is here. Personally, I think this airdrop is going to be on as big of a level as Uniswap - basically the biggest airdrop that we’ve had in recent memory. Let’s do some quick napkin math that I am using for my own horrific strategy.
Probably the closest thing you can compare to Arbitrum at this point would be Optimism, and Optimism currently trades at 2.63 per token with a circulating supply of 314 million, a market cap of 827 million, a total token supply of 4,294,967,296, and an FDV of 11 billion.
Arbitrum, on the other hand, has an initial token allocation and airdrop that looks like this:
While it may look daunting at first (total supply of 10 billion), you have to remember that only ~12% of that will be circulating for years. Not to mention, that’s only if everyone who is eligible claims theirs.
So with only 1.275 billion tokens floating around to start as their circulating supply, Arbitrum comes in with about 4x as many circulating tokens than Optimism has. However, Arbitrum (now we get real subjective) is also MUCH more popular than Optimism and is a much bigger deal - so all that being said, I expect this airdrop to do pretty well, and can imagine it getting in the 1-2 dollar range right off the bat (hopefully). Full disclosure of course as usual, I am eligible for this airdrop, and none of this is financial advice! It’s just a window into my thought process.
Killabears
Memo teased this image a few days back, and while it’s dope art, what really stood out was the fact that this cub was holding a weapon! That means we can maybe expect Cubs to be able to equip weapons (something that has been hinted at for sure) in the future.
Don’t forget that KillaFriday spaces are going off today at 4PM EST! As always, you can catch the weekly schedule for Killaspaces in the Discord.
Kanpai Pandas
Kanpai Pandas announced a huge partnership yesterday with Karate Combat.
This is awesome for a multitude of reasons, but it also gives community members another way to have some fun and win some serious money. Bagz and the team at Kanpai consistently go out of their way to make sure value is being returned to holders.
The Kanpai Panda March Madness Bracket challenge also kicked off yesterday, although I was already obliterated once Arizona lost to an ivy league school round one.
That’s it for today - I hope you all have a great weekend, and keep an eye out for Monday’s edition! We have some more fun stuff to share!