Two new proposals from the Arbitrum Foundation to expand oversight and governance rights for ARB token holders have both passed voting.
The first proposal, AIP-1.1, recommends placing the Foundation's remaining 700 million ARB into "smart contract-controlled lockups" that will unlock over four years. The Foundation will not be able to use these tokens until community members approve a token distribution budget, with a portion allocated to fund the Arbitrum Foundation’s operating budget for its first year. The second proposal, AIP-1.2, aims to amend several governance documents within the Arbitrum ecosystem, including lowering the threshold of ARB tokens required to submit improvement proposals on-chain from 5 million ARB to 1 million ARB.
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