CoinVoice has recently learned that on July 7, the Ethereum Layer2 network Arbitrum officially announced that the Arbitrum community’s two proposals AIP-1.1 and AIP-1.2 to expand the supervision and governance power of ARB Token holders have been voted through, and stated that 700 million ARB will soon be transferred to "smart contract-controlled locks."
Proposal AIP-1.1 proposes to put the remaining 700 million ARB of the foundation into a "smart contract controlled lock" and unlock it within four years. According to the proposal, the foundation will not be able to use the tokens until community members approve the token allocation budget.
Proposal AIP-1.2 aims to modify several governance documents of the Arbitrum ecosystem, including reducing the threshold for the number of ARB tokens required to publish improvement proposals on the chain from 5 million to 1 million. [Original link]
