Table of Contents

According to reports, the two proposals of the Arbitrum community to expand the supervision and governance power of ARBToken holders (AIP-1.1 and AIP-1.2) were both voted through in the snapshot with over 98% support. Proposal AIP-1.1 suggests placing the remaining 700 million ARBs of the foundation under smart contract control and unlocking them within four years. According to the proposal, the foundation will not be able to use tokens until community members approve the token allocation budget.

The Arbitrum community voted with over 98% support for AIP-1.1 and AIP-1.2 proposals

Outline

1. Introduction
2. Background on Arbitrum
3. Arbitrum’s Community Proposals
4. Proposal AIP-1.1 and Its Objectives
5. Proposal AIP-1.2 and Its Objectives
6. Snapshot Voting and Support
7. Potential Impact of the Proposals
8. Conclusion

Article

1. Introduction
2. Background on Arbitrum
3. Arbitrum’s Community Proposals
4. Proposal AIP-1.1 and Its Objectives
– Placing 700 Million ARBs under Smart Contract Control
– Unlocking Tokens within Four Years
5. Proposal AIP-1.2 and Its Objectives
6. Snapshot Voting and Support
– Over 98% Support for Both Proposals
7. Potential Impact of the Proposals
8. Conclusion
# Arbitrum Community Proposals to Expand Supervision Oversight: AIP-1.1 and AIP-1.2

Introduction

As the blockchain industry continues to gain traction, its community of stakeholders has become more vocal and active in decision-making processes. The Arbitrum community is no exception to this, as it recently proposed two initiatives aimed at expanding the governance and supervisory power of ARBToken holders. In this article, we will discuss the background of Arbitrum and the details of the two proposals, as well as the implications they may have on the future of the project.

Background on Arbitrum

Arbitrum is a Layer 2 solution that utilizes a series of smart contracts to improve the performance and scalability of the Ethereum blockchain. It was developed by Offchain Labs and launched in 2020. Arbitrum aims to address Ethereum’s scalability issues by allowing it to process more transactions within a shorter amount of time while maintaining the security and decentralization of the network.

Arbitrum’s Community Proposals

Arbitrum’s community has proposed two initiatives aimed at expanding the oversight and governance power of ARBToken holders. These proposals are collectively known as AIP-1.1 and AIP-1.2.

Proposal AIP-1.1 and Its Objectives

The first proposal, AIP-1.1, suggests placing the remaining 700 million ARBs of the foundation under smart contract control and unlocking them within four years. According to the proposal, the foundation will not be able to use tokens until community members approve the token allocation budget. The objective of this proposal is to prevent the foundation from accumulating power and control over the ARBToken, as this could potentially lead to centralization.

Proposal AIP-1.2 and Its Objectives

The second proposal, AIP-1.2, aims to establish the Arbitrum Community Treasury, which will be funded by a portion of the transaction fees collected on the network. The purpose of this treasury is to fund projects that benefit the Arbitrum ecosystem, such as research and development, marketing, and community building.

Snapshot Voting and Support

According to reports, both proposals were voted on in the snapshot, and both received overwhelming support, with over 98% of votes in favor. The validity of this vote is based on the snapshot technology which creates an exact copy of the blockchain at a specific time which can then be used later for governance purposes.

Potential Impact of the Proposals

The potential impact of these proposals cannot be understated, as they represent a significant shift in power dynamics between the foundation and the wider community of stakeholders. It also signifies a fundamental departure from the previous practices of blockchain projects, which often tended to favor centralized control and decision-making. If successful, these proposals will ensure greater decentralisation while creating an opportunity to allocate funds to projects that will benefit the entire ecosystem.

Conclusion

Overall, the two initiatives proposed by the Arbitrum community, AIP-1.1 and AIP-1.2, represent a significant step forward in decentralization efforts. They also provide a framework for future community-driven initiatives aimed at expanding the oversight and governance power of crypto projects. The Arbitrum community has demonstrated its willingness to work together towards the common goal of creating a better blockchain ecosystem for everyone.
# FAQs

1. Who is responsible for the governance and supervision of Arbitrum?

The governance and supervision of Arbitrum are vested in the wider community of ARBToken holders, who have the power to vote on proposals such as AIP-1.1 and AIP-1.2.

2. How will the establishment of the Arbitrum Community Treasury benefit the ecosystem?

The establishment of the Arbitrum Community Treasury aims to fund projects that benefit the entire ecosystem, such as research and development, marketing, and community building.

3. How will the foundation be prevented from accumulating too much power and control over the ARBToken?

The foundation will be prevented from accumulating too much power and control over the ARBToken by placing the remaining 700 million ARBs under smart contract control and unlocking them within four years, at which point the community will vote on the allocation of these tokens.
# Keywords
– Arbitrum
– ARBToken
– AIP-1.1
– AIP-1.2