Arbitrum co-founder Steven Goldfeder jumped onto X on September 6 to clear up the mess around ARB token supply. His point was simple: the market often gets it wrong by treating DAO-held tokens as locked supply. Goldfeder said the token unlock for investors and team members is almost done, and the piece still locked is only 7.7% of total supply, with a full unlock scheduled by March 2026.
And he made another point. The Arbitrum DAO treasury holds 2.84 billion ARB tokens, but those are not locked tokens in the usual sense. They are controlled by circulating token holders, and any transfer needs approval through a vote by other token holders.
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