Arbitrum

ARB, the governance token of Arbitrum, one of the largest layer 2 networks on Ethereum. Transactions there are paid for in ETH, so ARB's role is voting. Holders govern the Arbitrum DAO, which controls upgrades to the protocol and a treasury of ARB that funds grants and incentives for projects building on the chain. It was airdropped in March 2023 to people who had already used Arbitrum, one of the biggest distributions of its kind.