According to official news, social protocol The Arena (formerly Stars Arena) announced the launch of the ARENA token and will launch an airdrop. The main function of ARENA will be as a governance token, an ERC-20 asset built on the Avalanche C chain. According to The Arena, a total of 37,120,167 points have been airdropped to more than 100,000 users. Each point will be worth 60 ARENA tokens, which means the total airdrop will be 2,561,292,000 ARENA tokens. The Arena also stated that only 10% of all airdrop tokens will be distributed in the initial phase, with the remaining 90% expected to be distributed monthly over the next year. More specific details about ARENA will be released closer to launch.