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Expanding Supervision and Governance Power for ARBToken Holders: AIP-1.1 and AIP-1.2 Approval

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According to reports, the two proposals of the Arbitrum community to expand the supervision and governance power of ARBToken holders (AIP-1.1 and AIP-1.2) were both voted through i

Expanding Supervision and Governance Power for ARBToken Holders: AIP-1.1 and AIP-1.2 Approval

According to reports, the two proposals of the Arbitrum community to expand the supervision and governance power of ARBToken holders (AIP-1.1 and AIP-1.2) were both voted through in the snapshot with over 98% support. Proposal AIP-1.1 suggests placing the remaining 700 million ARBs of the foundation under smart contract control and unlocking them within four years. According to the proposal, the foundation will not be able to use tokens until community members approve the token allocation budget.

The Arbitrum community voted with over 98% support for AIP-1.1 and AIP-1.2 proposals

Introduction

Recently, the Arbitrum community has been discussing two proposals that aim to expand the supervision and governance power of ARBToken holders. These proposals, AIP-1.1 and AIP-1.2, were both approved in the snapshot with overwhelming support of over 98%. In this article, we will explore the details of these proposals, their potential benefits, and their implications for the future of ARBToken and the Arbitrum ecosystem.

Understanding the Proposals

Proposal AIP-1.1 suggests placing the remaining 700 million ARBs of the foundation under smart contract control and unlocking them within four years. Under this proposal, the foundation will not be able to use tokens until the community members approve the token allocation budget. By implementing this proposal, the community aims to exercise greater control over the ARBToken allocation and ensure that it follows a transparent and democratic process.
AIP-1.2 proposes an update to the Arbitrum Governance contract to increase the quorum requirement for proposing a vote to 20% and the quorum requirement for passing a vote to 30%. This proposal aims to further decentralize the governance process and prevent a small group of token holders from controlling the decision-making process.

Potential Benefits of the Proposals

The approval of these proposals will have significant benefits for the ARBToken ecosystem. By implementing AIP-1.1, the community will have greater control over the allocation of ARBToken, which will enhance transparency and improve the democratic process. This proposal will also ensure that the foundation cannot control a large number of tokens, which could potentially lead to centralization and harm the ecosystem’s decentralization.
The approval of AIP-1.2 will also contribute to enhancing the decentralization of the ecosystem. By increasing the quorum requirement for proposing and passing a vote, the governance process will become more democratic, with more token holders needed to participate in making decisions. This proposal will also ensure that decisions are made based on the majority’s consensus, preventing a small group of token holders from controlling the governance process.

Implications of the Proposals

The approval of these proposals is a significant step towards greater decentralization for the ARBToken ecosystem. The community’s ability to exercise greater control over the allocation of tokens will improve transparency and promote greater involvement in the decision-making process by all token holders.
Furthermore, the increase in the quorum requirement will ensure that governance decisions are made based on a more significant proportion of token holders’ views, preventing a small group from imposing their views on the ecosystem.
These proposals’ approval highlights the community’s commitment to decentralization, which is essential for the long-term sustainability of the ecosystem.

Conclusion

In conclusion, the approval of proposals AIP-1.1 and AIP-1.2 represents a crucial milestone for the ARBToken ecosystem. These proposals will increase the supervision and governance power of ARBToken holders, making the decision-making process more democratic and transparent. The approval of these proposals is a significant step towards greater decentralization, which is vital for the long-term success of the ecosystem.

FAQs

1. What are the benefits of increasing the quorum requirement for passing a vote?
Increasing the quorum requirement for passing a vote ensures that decisions are made based on the majority’s consensus, preventing a small group of token holders from controlling the governance process.
2. How will the approval of proposals AIP-1.1 and AIP-1.2 impact the ARBToken ecosystem?
The approval of these proposals will lead to greater supervision and governance power for ARBToken holders, enhancing transparency and promoting greater involvement in the decision-making process by all token holders.
3. What is the significance of proposals AIP-1.1 and AIP-1.2 approval?
The approval of these proposals highlights the community’s commitment to decentralization, which is essential for the long-term sustainability of the ecosystem.

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