Arbitrum IOU tokens and futures markets are heating up as traders prepare for the $ARB token airdrop, scheduled for Thursday, March 23.
Ahead of the claim event, derivative markets for the upcoming $ARB tokens have already opened for traders. An IOU token, representing debt between two parties and settling instantly as trades are made, is already trading on the crypto exchange Hotbit at $10.
In addition, BitMEX introduced its own $ARB token futures product on Monday, offering leverage of up to 20x for traders. Futures price for $ARB is lower on BitMex, now trading at above $1.
While these products are speculative as of now, their use case may change after $ARB tokens are officially issued to network participants. Traders and holders of spot $ARB may then use futures products to hedge their spot holdings.
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Arbitrum
Ethereum
Airdrop
