TechFlow news — The Arbitrum Foundation has submitted two new proposals to expand ARB token holders' budget oversight and governance powers, addressing the cryptocurrency governance collapse that occurred last weekend.
The first proposal, AIP-1.1, suggests placing the Foundation's remaining 700 million ARB tokens into "smart contract-controlled lockup," with unlocking over four years. According to the proposal, the Foundation will not be able to use these tokens until community members approve the token allocation budget. In addition, the Arbitrum Foundation has released a transparency report detailing how the organization was established.
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 to 1 million.
DAO members will have three days to provide feedback on the proposals, after which both will proceed to a one-week Snapshot vote.
