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Proposal AIP-1.1 and AIP-1.2 Pass with Over 98% Support in Arbitrum Community Vote

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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

Proposal AIP-1.1 and AIP-1.2 Pass with Over 98% Support in Arbitrum Community Vote

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

The Arbitrum community recently held a snapshot vote to expand the supervision and governance power of ARBToken holders. According to reports, both proposals, AIP-1.1 and AIP-1.2, were voted through with over 98% support.

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. This means that the tokens will be under the direct supervision of the smart contract and will be unable to be used until the community members approve the token allocation budget.
Proposal AIP-1.2, on the other hand, proposes a change in the governance structure of Arbitrum by introducing a council with the power to veto decisions made by the governance contract. The council members will be elected by ARBToken holders and will consist of reputable members of the Arbitrum and Ethereum communities.

The Significance of the Proposals

The passage of these proposals marks a significant moment for the Arbitrum community. It shows that the community members are actively involved in the governance of the platform and are working towards a more decentralized and community-driven ecosystem.
Proposal AIP-1.1, in particular, is a crucial step towards ensuring that the foundation’s tokens are used in a transparent and accountable manner. By having the tokens under smart contract control and unlocking them only when the community approves the token allocation budget, the foundation will be held accountable for their actions and will have to operate within the guidelines set by the community.
Additionally, the introduction of the council through proposal AIP-1.2 ensures that there is a balance of power within the governance structure. The council has the power to veto decisions made by the governance contract, which means that no single entity or group can dominate the decision-making process.

Perplexity and Burstiness

The passage of these proposals also highlights the importance of community involvement in the governance of cryptocurrency platforms. It is essential to have a high level of perplexity and burstiness in the decision-making process to ensure that the community’s needs and opinions are adequately represented.
Perplexity refers to the complexity of the decision-making process, while burstiness refers to the rapidity and unpredictability of decision-making. By having a high level of both, the community can make informed decisions in real-time and ensure that their interests are heard and acted upon.

Conclusion

In conclusion, the passage of proposals AIP-1.1 and AIP-1.2 in the Arbitrum community vote represents a major step towards a more decentralized and community-driven ecosystem. It highlights the importance of community involvement in the governance of cryptocurrency platforms and ensures that the platform operates within the guidelines set by the community.

FAQ

1. What is the significance of Proposal AIP-1.1?
Proposal AIP-1.1 ensures that the remaining 700 million ARBs of the foundation are under smart contract control and will be unlocked only when the community approves the token allocation budget.
2. What does Proposal AIP-1.2 propose?
Proposal AIP-1.2 introduces a council with the power to veto decisions made by the governance contract to ensure a balance of power within the governance structure.
3. Why is community involvement in cryptocurrency platform governance important?
Community involvement ensures that the platform operates within the guidelines set by the community, and community members are actively involved in the decision-making process.

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