Steven Goldfeder
@sgoldfed
Joined October 2012
941 Following 38.5K Followers
Arb’s supply is largely misunderstood as it is often quoted as including DAO tokens as locked.
The ARB investor/teammate unlocks are nearing completion and will be fully unlocked this coming March. The remaining locked tokens investor/teammate account for about 7.7% of the total supply.
So where are the rest of the tokens? They sit in the DAO treasury, and are not locked in the traditional sense. The Arbitrum DAO currently holds 2.84 billion ARB. But the DAO tokens are fully controlled by the circulating tokens as the only way those tokens move is by a vote of the other tokenholders.
Here’s a screenshot from the recent Arbitrum transparency report:
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67% of $ARB’s 10B total supply is already circulating.
That’s a high-float token.
A large portion of the eventual supply is already in the market, which means there’s less future dilution and less of the constant “unlock overhang” you typically see with low-float tokens.
So for me, fading $ARB purely because of its tokenomics doesn’t make much sense.
The supply is largely out.
Now the real question is: does demand catch up?
And this is where my $ODYS thesis gets interesting.
Robinhood Chain is built on Arbitrum, and 10% of its revenue goes back to the Arbitrum ecosystem.
Of that 10%, 2% goes specifically toward developers contributing to Arbitrum’s technology, tooling and infrastructure.
As more activity flows through Robinhood Chain and the broader Arbitrum ecosystem grows, I expect more capital to flow toward the builders and protocols contributing to that growth.
That’s why I’m betting on $ODYS.
The bet isn't just on another protocol.
It's on the ecosystem around Arbitrum getting bigger and the value that can accrue to the projects building within it.
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