arbitration, Layer 2 solution of renowned Ethereum, is finally heading towards the decentralizationentrusting the governance to his community. The deployment close to its ARB native token will enable it to integrate other initiatives of Layer 2such as Optimism.
THE governance token will offer its holders the opportunity to participate in votes and to suggest improvements for Arbitrum. This project is based on a optimistic rollup who transfers the activities of the network Ethereum For minimize gas costs. According to information provided by L2 Beatit constitutes more than 55% of the Layer 2 in terms ofinvestments made.
Wen? Now.
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— Arbitration (
,
) (@arbitrum) March 16, 2023
Offchain Labsthe team behind the development of Arbitrum, revealed that the distribution of the ARB token will start in a week. In the meantime, users will be able to choose delegates to influence the direction of the project. Like a representative democracy, token holders will be able to entrust their voting power to someone else if they lack time or technical expertise.
The first followers of Arbitrum, chosen according to eligibility criteria internal, will be able to obtain the new ARB token, as indicated Steven Goldfeder, co-founder and CEO of Offchain Labs. He also said he worked closely with Nansen for many months to define the criteria for distribution of tokens to users.
Goldfeder specified that 11.6% of theglobal offer of tokens will be distributed to individual user addresses, and an additional 1.1% will go to other projects developed on Arbitrum. He emphasized theinvolvement of users and projects in the governance of Arbitrum. There TVL is one of the criteria considered by the team, however, eligibility has been extended to encompass as many projects as possible.
Until then, Offchain Labs was the sole entity responsible for adjustments expansion technology. Now the community will be able to influence the evolution of the technology and the way in which it wishes to grant it under Licence. Goldfeder is confident that this opening will encourage theinnovation within the Arbitrum ecosystem.
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