News

The Arbitrum Community Is Coming To An Agreement On 2 New Proposals

Key Points:

  • The Arbitrum community is voting on two proposals to expand the supervision and governance power of ARB token holders.
  • At present, the support rate of the two proposals is above 98% at the time of writing.
  • Prior to that, AIP-1.05 to return 700 million ARB tokens was fiercely opposed, with 84% voting against it.
The Arbitrum community has finally come to a consensus on Proposals 2 AIP-1.1 and AIP-1.2, as they are being supported at the moment and may be approved tomorrow.

The Snapshot voting page shows that the Arbitrum community is voting on two proposals (AIP-1.1 and AIP-1.2) to expand the supervision and governance power of ARB token holders. It will start on April 11 and will end in the early morning of April 18.

Proposal Arbitrum Improvement Proposal 1.1 (AIP-1.1) proposes placing the Foundation’s remaining 700 million ARB in a “smart contract-controlled lock” to be unlocked over four years. According to the proposal, the foundation will not be able to use tokens until community members approve the token allocation budget. Additionally, the Arbitrum Foundation has released a transparency report on how the organization was formed.

Proposal AIP-1.2 seeks to amend several governance documents of the Arbitrum ecosystem, including lowering the threshold for the number of ARB tokens required to issue improvement proposals on-chain from 5 million to 1 million. At present, the support rate of the two proposals is above 98%.

Arbitrum’s controversial AIP-1.05 to return 700 million ARB tokens failed overwhelmingly, with 84% against it. Notable holders prioritize platform viability, raising questions about future steps for the contentious funds.

Notable token holders who voted against AIP-1.05 encompassed 0x0eB5, olimpio.eth, 0xBbE9, galxe.arb, chainlinkgod.eth, and blockworksres.eth all cast their votes with millions of ARB tokens. The reasons behind voting against the proposal could involve the perception that more-minor voters are primarily concerned with increasing the value of Arbitrum’s governance token.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Bitcoin Spot ETF Inflows Reach $449M With BlackRock Leading

Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…

13 minutes ago

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

1 hour ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

2 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

2 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

3 hours ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

4 hours ago

This website uses cookies.