Arbitrum community launches proposal vote to unlock token utility by enabling ARB staking

BlockBeats news, on August 9, according to the Snapshot governance page, Tally market operations head Frisson initiated a proposal vote in the Arbitrum community to "unlock token utility by enabling ARB staking", and the vote will end on August 16.

The proposal proposes to unlock ARB utility by enabling ARB staking and improve the governance and security of the Arbitrum protocol, but will not enable the distribution of fees to token holders for the time being. By staking ARB, token holders will be able to capture value by delegating tokens to users who actively participate in governance.

The proposal will also implement a liquid staking ARB token (stARB) through the Tally protocol, which can automatically compound any future rewards, can be (re)staking, and is compatible with DeFi.

In addition, the proposal initiator said it would work with Arbitrum DAO to decide whether and how to fund the rewards and distribute the rewards among token holders and delegators.