A new proposal asks the Arbitrum Foundation to return 700 million ARB tokens after community backlash. Voting ends on April 14. As per the proposal, the Foundation should proceed with its budget plan only after returning the tokens. “This is a symbolic gesture to demonstrate that the governance holders ultimately control the DAO, not the…
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The Arbitrum Foundation announced that it was only ratifying an existing decision when it proposed a 750 million ARB tokens budget. A proposal to fund the Arbitrum Foundation with 750 million ARB tokens — nearly $1 billion — raised controversy in the ARB community over the weekend, as the Foundation announced that it was only…
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Following the Arbitrum token airdrop, ARB has become a top 40 cryptocurrency as it currently holds the 37th largest market valuation out of more than 23,000 listed digital currencies. Currently, there is a circulating supply of 1,275,000,000 ARB, and the Arbitrum Foundation’s DAO Treasury holds 3.52 million or 35.27% of the airdropped supply. Over the…
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A week ago, the Ethereum layer two scaling solution Arbitrum announced the launch of its native token called ARB, and since then IOU markets have launched giving some indication of how much the token may be worth. ARB claiming begins March 23 and when people get their coins on exchanges, the token’s value may turn…
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The Ethereum layer two (L2) scaling solution Arbitrum has launched a native governance token named ARB and a self-executing decentralized autonomous organization (DAO) governance model. The ARB token will have an initial supply of 10 billion, and coins will be airdropped to the Arbitrum DAO treasury, Offchain Labs (the company behind Arbitrum), Offchain Labs investors,…
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The LIFI executive proposed that a team of four researchers be appointed to study the idea of a multi-bridge approach. As Uniswap DAO’s vote to deploy to BNB chain continues, LIFI CEO Phillip Zentner argued in a February 6 forum post that the current proposal is flawed. According to him, the plan to use Wormhole…
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Wormhole got over 60% of the vote in the Uniswap DAO referendum, with LayerZero coming in second. The Uniswap DAO has approved a second non-binding proposal, called a “temperature check,” to make Wormhole the official bridge for cross-chain governance of the protocol between BNB Chain and Ethereum, according to the official proposal page. BREAKING: Wormhole…
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While the Ethereum community prepares for the upcoming Shanghai hard fork in March, the development team for the liquid staking project Lido revealed plans to create an in-protocol withdrawal feature. Lido’s team is seeking community feedback on the proposal that would allow withdrawals after the Shanghai upgrade is completed. Lido Dominates Defi Economy With $7.9…
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Traders are contemplating what will happen to ETH price and staked Ether derivatives after the next network upgrade opens withdrawals for stakers. The crypto market witnessed the DeFi summer of 2020, where decentralized finance applications like Compound and Uniswap turned Ether (ETH) and Bitcoin (BTC) into yield-bearing assets via yield farming and liquidity mining rewards.…
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Karate Combat’s DAO will be launched as part of a three-year sponsorship deal with Hedera’s HBAR Foundation, expected to go live in December 2022. Karate Combat, a prominent full-contact martial arts league, announced the decision to form a decentralized autonomous organization (DAO) to transition its governance to fans and athletes. Karate Combat’s DAO will be…
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