According to The Block, Arbitrum DAO approved the offer of ARB token holders to stake tokens in exchange for returns.
At this point, the Arbitrum DAO has approved a governance proposal that will allow ARB token holders to stake their assets. This proposal was accepted by majority vote.
The return will be financed by the Arbitrum treasury, distributed over 12 months via smart contract.
The offering, which concluded today, will initially be launched for a total of 10 billion tokens.
Accordingly, options will be offered to allocate 1% (100 million tokens), 1.5% (150 million tokens) or 1.75% (175 million tokens) of 10 billion tokens.
The staking proposal was accepted with a majority vote of more than 66% of DAO members, while the remaining 33% voted against the proposal. The minority stated that they voted against, stating that there was a disagreement within the community regarding the use of treasury funds for staking incentives.
With this news, the ARB price rose to $1,146. ARB continues to trade at $1,126 at the time of writing.
*This is not investment advice.