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Arbitrum DAO: Because Who Needs Decentralization When You Can Have Tokenized Participation

Crypto NewsMemecoinsRegulation/Negotiation 2 Sam Rogers August 16, 2024

An illustration of an empty stadium with 25% filled seats on one side representing low voter participation; another side is packed full but all are wearing masks symbolizing security measures against governance attacks; a large ARB token in the center surrounded by smaller stARB tokens and various DeFi application icons, while sequencer fees flow from it. The background features an Ethereum logo with two layers: a darker layer representing Arbitrum on top of the lighter one for Ethereum. A temperature gauge is shown at 91% filled near the stadium entrance;

The eternal quest for relevance by crypto projects continues unabated! In this case, it’s Arbitrum’s turn to try and boost its ARB token utility with staking and governance upgrades – because what could possibly go wrong? The DAO has approved a proposal that will allow users to stake their tokens in exchange for some newfangled liquidity-staking ARB token (stARB). Because the original was clearly not enough of an incentive. And let’s be real, who wouldn’t want to participate in a governance system where only 1% of tokens are actively engaged? It sounds like a recipe for disaster! But hey, at least they’re trying to prevent potential governance attacks by implementing staking and delegation – because that always works out well… said no one ever. Stay tuned for more

Source: cointelegraph

Arbitrum DAO boosts ARB utility with staking and governance upgrades
https://cointelegraph.com/news/arbitrum-dao-arb-token-staking-governance-upgrade
In a major advancement for the Arbitrum ecosystem, the Arbitrum DAO has approved a temperature check proposal focused on boosting the utility of the ARB token and strengthening governance security. The proposal, which garnered overwhelming support with 91% approval from more than 25,000 participants, concluded its onchain voting on Aug. 15. The core of the proposal focuses on unlocking the utility of the ARB (ARB) token by enabling ARB staking. […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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