Arbitrum

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PlutusDAO

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<div class="cryptonews">
 <p class="is-style-lead">The Arbitrum community has supported a proposal to make a staking mechanism for ARB tokens.</p>
 <p>Arbitrum DAO has voted in <a rel="noopener noreferrer nofollow" title="favor" href="https://thebittimes.com/tag/favor.html">favor</a> of a recent proposal by PlutusDAO, which suggested creating a <a rel="noopener noreferrer nofollow" title="staking" href="https://thebittimes.com/tag/staking.html">staking</a> contract for ARB tokens to “incentivize long-term tokens holders.”</p>
 <p>According to the proposal’s snapshot, over 66.7% of voters approved setting up a fund, allocating 1% of the total ARB supply (100 million ARB) for distributing <a rel="noopener noreferrer nofollow" title="staking" href="https://thebittimes.com/tag/staking.html">staking</a> rewards for 12 months.</p>
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 <p>At the same time, over 33% of those who voted were against the initiative. Per the proposal’s description, the <a rel="noopener noreferrer nofollow" title="staking" href="https://thebittimes.com/tag/staking.html">staking</a> mechanism based on the existing treasury funds is the “most palatable option from a legal perspective, as it does not involve sharing revenues.”</p>
 <blockquote class="wp-block-quote">
  <p>“It also does not rule out the possibility of later moving on to a model that allows for other value accrual methods to the token.”</p> <cite>PlutusDAO</cite>
 </blockquote>
 <p>While no time frames were mentioned explicitly, PlutusDAO said the final implementation schedule “depends on the result of the vendor decision proposal, community review, audit schedules, and subsequent findings.”</p>
 <p>It is also unclear how much it would cost for the Arbitrum DAO to develop a <a rel="noopener noreferrer nofollow" title="staking" href="https://thebittimes.com/tag/staking.html">staking</a> mechanism as the “true extent of these costs can only be estimated after these decisions are made,” PlutusDAO noted.</p>
 <p>Amid the news, ARB surged by 2.5%, reaching $1.13, as per CoinGecko.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/arbitrum-dao-votes-in-favor-of-bringing-arb-staking-tbt69206.html">https://thebittimes.com/arbitrum-dao-votes-in-favor-of-bringing-arb-staking-tbt69206.html</a></p>

Arbitrum DAO votes in favor of bringing ARB staking

TheBitTimes

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