The Arbitrum community is currently voting on the AIP-1.1 and AIP-1.2 proposals, with support votes currently in the majority

2023-04-17 15:10:44

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ChainCatcher news, the Snapshot voting page shows that the Arbitrum community is voting on two proposals regarding the expansion of ARB token holders' oversight and governance powers (AIP-1.1 and AIP-1.2). The voting for both proposals started on April 11 and will end at midnight on April 18.

Proposal AIP-1.1 suggests placing the remaining 700 million ARB of the foundation under "smart contract controlled lockup," to be unlocked over four years. According to the proposal, the foundation will not be able to use the tokens until the community members approve the token allocation budget. Additionally, the Arbitrum Foundation has released a transparency report on how the organization was established.

Proposal AIP-1.2 aims to modify several governance documents of the Arbitrum ecosystem, including lowering the threshold of ARB tokens required to submit on-chain improvement proposals from 5 million to 1 million. Currently, both proposals have a support rate of over 98%. (source link)

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