Snapshot voting page shows that both proposals (AIP-1.1 and AIP-1.2) regarding the expansion of $ARB token holders' oversight and governance power in the Arbitrum community have been approved with nearly 99% support.
Proposal AIP-1.1 suggests placing the 700 million $ARB allocated to the Arbitrum Foundation in a "smart contract-controlled lockup" to be unlocked within four years. According to the proposal, the foundation will not be able to use the tokens before 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 amend several governance documents of the Arbitrum ecosystem, including reducing the threshold of the required $ARB token amount for submitting improvement proposals on-chain from 5 million to 1 million. Currently, both proposals have a support rate of over 98%.
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Arbitrum
Governance
Layer 2
