Key Points:
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
In-depth review of PrimeXBT's trading platform. Learn about its unique features, security protocols, and why…
Bitcoin is the original cryptocurrency, created in 2009 by an unknown founder called Satoshi Nakamoto.…
Get an in-depth market overview, including macroeconomic updates and key economic events. Stay updated on…
Minneapolis Federal Reserve President Neel Kashkari indicated a potential Fed interest rate cut in December.
Binance ZK listing will take place at 08:00 (UTC), along with the distribution of additional…
Show support to your respective national team and bustle in extra excitement as 1xBit joins…
This website uses cookies.