Arbitrum Responds to Community Backlash: Foundation Introduces New Governance Proposals for Enhanced Transparency and Accessibility

After disputes on its initial trial, the Arbitrum Foundation proposed numerous additional governance proposals. The community is more open to fresh initiatives, and the foundation does not dismiss community requests.

Arbitrum experienced strong opposition in response to AIP-1, a major governance initiative. This plan sought to transfer around $1 billion in governance tokens to the Arbitrum Foundation without the agreement of token holders. Token holders showed their displeasure by voting massively against this scheme. Arbitrum revealed thorough plans to incorporate user comments and develop new AIPs as a consequence.

AIP-1.1 and AIP-1.2 are two of the new proposals. AIP-1.1 includes smart contract-enforced lockup schedules, spending limitations, budgeting rules, and mandatory transparency reports. AIP-1.2 seeks to lower the threshold for proposing modifications from 5 million to 1 million Arbitrum (ARB) tokens in order to make governance more accessible.

The community rejected the original plan, AIP-1, due to its extremely wide scope. In response, the Arbitrum Foundation has promised to follow the DAO’s advice by dividing down AIP-1 into more manageable components. The community is expected to show higher support for AIP-1.2, which aims to decrease the barrier to 1 million ARB. This development emphasizes the significance of open governance and community participation in influencing the future of Bitcoin platforms.

It is the flood that Arbitrum shared from its official account.

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