Arbitrum community approves initial vote on proposal to activate token staking
www.theblock.co/post/261628/arbitrum-dao-approves-proposal-to-activate-token-staking?utm_source=twitter&utm_medium=social
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Arbitrum community members have greenlit an initial governance vote on a proposal that asks for ARB token holders to stake their holdings in exchange for yield. This is expected to be funded by the Arbitrum treasury and distributed over 12 months through a smart contract, per the PlutusDAO proposal.
In the temperature check vote conducted on SnapShot, the majority — more than 66% of the DAO members — voted in favor of the lowest tier of allocating 1% (100 million tokens) toward staking. A minority, 33%, voted against the vote, highlighting a disagreement within the community regarding the use of treasury funds for staking incentives.
The annualized percentage yield is estimated between 7.84% and 78.43% if 100 million tokens are used, depending on the percentage of the ARB supply that is staked.
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