Arbitrum’s AIP 1.1 & 1.2 endorsed; ARB userbase crosses 5M, thanks to…

April 19, 2023

By Victor Olanrewaju

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• The project’s community agreed to the proposals to sort budget, governance, and token locks.

• Retail activity and a surging meme value have been the push behind Arbitrum’s growth in addresses.

Finally, an Arbitrum [ARB] proposal passed a voting session without any conflict or back and forth, as the AIP-1.1 and 1.2 got the endorsement from the DAO. According to the results, 99.15% voted in favor of the AIP-1.2, while a meager 0.2% were against it.

The AIP-1.2 centers around Arbitrum’s governance bylaws and aims to amend them by implementing feedback from the community. The AIP-1.1 considers the proposal to lock up ARB tokens, budget approval, and complete transparency by the Foundation after the 700 million allocation brouhaha.

This also got approval after 98.13% of the voting community thumbed in favor of the idea. Interestingly, the acceptance coincided with a period where the Ethereum [ETH] scaling solution surpassed five million in total created accounts.

Five million and counting

Arbitrum’s evident rapidly growing user base can be attributed to a number of factors, including the network’s ability to handle high volumes of transactions, its low gas fees, and the support of a vibrant and engaged community.

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