Critical Vote Accepted In Arbitrum

As a result of the approval from Arbitrum DAO, ARB token holders can now earn staking rewards.

Arbitrum DAO has approved a governance proposal allowing ARB token holders to stake their tokens in exchange for rewards. The proposal was accepted by a majority vote and will result in rewards being distributed through a smart contract over a 12-month period.

The proposal, which concluded today, was initiated for a total of 10 billion tokens. As a result, ARB token holders have the option to stake 1% (100 million tokens), 1.5% (150 million tokens), or 1.75% (175 million tokens) of the total 10 billion tokens.

The staking proposal was approved with a majority vote of over 66% of DAO members, while the remaining 33% cast their votes against it. The minority voters expressed their opposition, citing a community disagreement over the use of treasury funds for staking incentives.