Arbitrum Decentralized Autonomous Organization (DAO) approved a proposal to enable its ARB token holders to stake their holdings and earn a yield.
Arbitrum DAO has approved a governance proposal to offer $100 million in rewards to traders. Arbitrum will fund the distribution of staking rewards through Arbitrum treasury for a period of 12 months. ARB price continued its rally, climbing nearly 4% on the day. Over $100 million in rewards will be set aside for distribution among staking users over a twelve-month period.
This encouraged the community to approve staking rewards for users. The proposal calls for a mechanism to distribute ARB tokens to stakers. A staking mechanism is likely to incentivize long-term token holders for future token utility proposals. As seen in the snapshot below, 66.76% users approved the proposal to stake ARB for rewards, while 33.24% rejected the same. The vote ended on November 6 at 10:24 GMT. Proposal for ARB stakers The final proposal has the option to allocate 1% , 1.5% , or 1.
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