The Arbitrum Foundation's two proposals to expand the oversight and governance powers of ARB token holders have been approved

ChainCatcher news, the Arbitrum Foundation's two new proposals to expand the oversight and governance power of ARB token holders have been approved through voting.

The first proposal AIP-1.1 suggests placing the remaining 700 million ARB of the foundation into a "smart contract-controlled lockup," which will unlock over four years. The foundation will not be able to use the tokens until the community members approve the token distribution budget; a portion of the tokens will be used to fund the Arbitrum Foundation's operational budget for the first year. The second proposal AIP-1.2 aims to modify several governance documents of the Arbitrum ecosystem, including lowering the threshold of ARB tokens required to submit improvement proposals on-chain from 5 million ARB to 1 million ARB. (source link)