Snapshot Voting Page Shows Arbitrum Community Voting on Expansion of Governance Power of ARB Token Holders

According to reports, 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, which began on April 11th and will both expire in the early hours of April 18th.

The Arbitrum community is currently voting on proposals for AIP-1.1 and AIP-1.2, and the support vote is currently dominant

The Arbitrum community is currently voting on two proposals (AIP-1.1 and AIP-1.2) on the snapshot voting page. These proposals aim to expand the supervision and governance power of ARB token holders. The voting process started on April 11th and will expire in the early hours of April 18th. In this article, we will dive deeper into the proposals and explore their significance in the world of cryptocurrency.

Understanding ARB Tokens

ARB tokens are a crucial aspect of the Arbitrum ecosystem. They are used to incentivize network participants, boost network security, and facilitate the governance of the Arbitrum network. As such, ARB token holders play a crucial role in the decision-making process of the network.

Proposals on the Snapshot Voting Page

There are two proposals currently up for vote on the snapshot voting page. Let’s take a closer look at each one:

AIP-1.1

AIP-1.1 proposes a significant increase in the delegation limit for ARB holders. Currently, ARB token holders can delegate up to 1% of the total token supply to a single validator. This proposal suggests increasing this limit to 10%. This would enable ARB token holders to have more significant control over the network’s governance by delegating more tokens to validators they trust.

AIP-1.2

AIP-1.2 proposes a change in the voting rules for ARB holders. Currently, the proposal approval threshold is set at 20% of the total token supply. This proposal suggests increasing this threshold to 33%. This would make it more challenging for proposals to get approved, ensuring that only the most significant changes to the network are implemented.

Significance of the Proposals

The proposals on the snapshot voting page would significantly benefit the Arbitrum network by increasing the governance power of ARB token holders. AIP-1.1 would give ARB holders more control over the network’s governance by allowing them to delegate more tokens to validators. AIP-1.2 would ensure that only essential changes to the network are implemented by increasing the proposal approval threshold.

Conclusion

The Arbitrum network is currently voting on two proposals that aim to expand the supervision and governance power of ARB token holders. These proposals would significantly benefit the network, ensuring that only essential changes are implemented and giving ARB holders more significant control over the network’s governance. As the world of cryptocurrency continues to evolve, proposals like these will become increasingly important in shaping the future of the industry.

FAQs

Q1. How do I participate in the vote on the snapshot voting page?
A: To participate in the vote, you need to hold ARB tokens. You can then head over to the snapshot voting page and cast your vote before the deadline.
Q2. What happens after the proposals are approved?
A: If the proposals are approved, the changes outlined in them will be implemented on the Arbitrum network.
Q3. What are the benefits of holding ARB tokens?
A: Holding ARB tokens gives you a say in the governance of the Arbitrum network, as well as enabling you to earn rewards for participating in the network.