The official claim for the token went live at the Ethereum block height of 16,890,400 at 13:05 UTC. The claim website went down under heavy traffic, as did the blockchain’s block explorer. Arbitrum, which started operating in 2021, is the largest layer 2 blockchain on Ethereum, achieving scalability by using a technique called transaction rollups, which sends batches of transactions to the Ethereum mainnet.
Source: https://www.coindesk.com/markets/2023/03/23/arbitrums-arb-token-trades-at-399-as-625143-wallets-receive-airdrop/?utm_medium=referral&utm_source=rss&utm_campaign=headlines