Franklin

Arbitrum

Renzo

Franklin OnChain U.S. Government Money Fund

Stellar

With 91.5% approval, the Arbitrum DAO has signaled its support for implementing ARB token staking to enhance governance and security. 
The <a href="https://crypto.news/tag/arbitrum/" target="_blank" rel="noreferrer noopener">Arbitrum</a> DAO has supported the implementation of (<a href="https://crypto.news/price/arbitrum/" target="_blank" rel="noreferrer noopener">ARB</a>) token <a href="https://crypto.news/tag/staking/" target="_blank" rel="noreferrer noopener">staking</a>, a move aimed at enhancing governance and bolstering the protocol’s security. Per the temperature check&nbsp;<a href="https://snapshot.org/#/arbitrumfoundation.eth/proposal/0xb581f3aed701ae889c1d79406acdf3d653e6eb4323cb5e46635f729e6313da4d" target="_blank" rel="">proposal</a>&nbsp;submitted by Tally’s head of marketing, Frisson, over 91% voted in approval, while 8.46% opposed it. 
The initiative, designed to improve the governance and security of the Arbitrum protocol, noted that only about 10% of ARB’s circulating supply is “actively used in governance,” and voter participation has declined since the launch of the Arbitrum DAO. 
The new staking mechanism is expected to allow ARB holders who delegate their tokens to active governance participants to capture value, while a liquid staked ARB token (stARB) will enable the auto-compounding of potential future rewards and compatibility with decentralized finance applications. 
 You might also like: <a href="https://crypto.news/franklin-templeton-launches-money-market-fund-on-arbitrum/"> Franklin Templeton launches money market fund on Arbitrum </a> 
<h2 class="wp-block-heading" id="staking-as-insurance-against-governance-attacks">Staking as insurance against governance attacks </h2> 
A key component of the staking proposal is its role in safeguarding the Arbitrum DAO treasury, which has amassed over 16 million <a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a> in surplus fees. Frisson highlighted the growing risk of governance attacks, noting that as the treasury’s value increases, it becomes more “economically attractive for a malicious actor” to launch a governance attack on the DAO treasury. 
Tally is set to develop the staking solution with an allocated budget of $200,000 in ARB tokens. Smart contract audits are expected to be completed by September, with the full implementation of the staking mechanism scheduled for October. Despite the news, ARB’s price continued to decline, trading nearly 3% lower, per data from crypto.news. 
The approval comes just a week after Franklin Templeton, a $1.66 trillion asset manager, announced plans to launch a money market fund on Arbitrum. The so-called Franklin OnChain U.S. Government Money Fund (FOBXX) is also available on Stellar (<a href="https://crypto.news/price/stellar/" target="_blank" rel="noreferrer noopener">XLM</a>) and Polygon (<a href="https://crypto.news/price/polygon/" target="_blank" rel="noreferrer noopener">MATIC</a>). 
 You might also like: <a href="https://crypto.news/renzo-protocol-launches-solanas-first-liquid-restaking-token-on-jito/"> Renzo Protocol launches Solana’s first liquid restaking token on Jito </a>

Arbitrum DAO signals approval to introduce staking for ARB tokens

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