Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Arbitrum DAO to Boost Utility With Major Upgrade

Arbitrum DAO to Boost Utility With Major Upgrade

Cryptodnes2024/08/16 15:51
By:Cryptodnes

The Arbitrum DAO has passed a proposal aimed at increasing the functionality of the ARB token and enhancing governance security.

The proposal , which concluded on August 15, received significant approval—91% from over 25,000 voters.

The proposal focuses on introducing ARB staking and the new stARB token, which will facilitate staking and delegating ARB. This token will also support reward compounding and integration with DeFi platforms, though it will not involve immediate fee distribution to holders.

The initiative is expected to boost engagement within the Arbitrum network and address low voter turnout. Additionally, it aims to strengthen governance security by preventing potential attacks as the treasury expands.

READ MORE:
Bitcoin Layer 2 Hype Collapses as Assets and Tokens Plummet

The DAO also faces challenges with ARB’s performance, as fewer than 1% of tokens are currently active. In recent developments, Arbitrum allocated $215 million worth of ARB to its Gaming Catalyst Program and rejected a proposal to cover legal fees for Tornado Cash developers.

SHARE: SHARES
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!