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The Arbitrum community has supported a proposal to make a staking mechanism for ARB tokens. Arbitrum DAO has voted in favor of a recent proposal by PlutusDAO, which suggested creating a staking contract for ARB tokens to “incentivize long-term tokens holders.” According to the proposal’s snapshot, over 66.7% of voters approved setting up a fund, allocating 1% of the total ARB supply (100 million ARB) for distributing staking rewards for 12 months. You might also like: Multichain AMM Beluga’s hack on Arbitrum leads to $238k loss At the same time, over 33% of those who voted were against the initiative. Per the proposal’s description, the staking mechanism based on the existing treasury funds is the “most palatable option from a legal perspective, as it does not involve sharing revenues.” “It also does not rule out the possibility of later moving on to a model that allows for other value accrual methods to the token.” Plu...

Gro DAO, a defi protocol , has voted to dissolve its decentralized autonomous organization and protocol in response to mounting challenges plaguing the platform. A snapshot of the proposal detailed the issues challenging the protocol . Over the past three years, contributors and members have committed time and resources to build the community and its flagship product, the Gro protocol .  However, the protocol has faced persistent issues, including extended periods of underperformance and key departures within the Groda Pod, the primary product pod of Gro DAO. To navigate these challenges, Gro DAO sought an objective analysis of potential pathways from web3 studios, with the findings documented in the Gro DAO Strategic Path Forward. You might also like: Rook DAO proposes dissolution, treasury distribution to token holders Community members were presented with four distinct voting options. The first option is to unwind the protocol and the DAO. This path seeks to diss...