Jul 17, 01:32 PM

Arbitrum DAO Hosts Redelegation Week, Approves 35M ARB Diversification with 99.44% Approval

The Arbitrum DAO is currently hosting its Redelegation Week from July 17 to 23, allowing $ARB token holders to delegate their tokens to representatives for voting on governance issues. Several participants, including @pton_blockchain and @whizwang, have announced their involvement in the campaign. Additionally, the DAO approved the STEP Committee's recommendation to diversify 35 million ARB tokens into tokenized Real World Assets (RWAs). This proposal, which passed on July 11 with 99.44% approval, includes investments in products from BackedFi, Securitize, OndoFinance, Superstatefunds, MountainUSDM, and OpenEden_Labs. Nethermind, one of the six members of the STEP Committee, rigorously analyzed over 30 applications. The DAO will also diversify 4 million ARB into a tokenized US TBill product from BackedFi.

#Arbitrum DAO #Redelegation Week #DAO #STEP Committee #Real World Assets #RWAs #BackedFi #Securitize #OndoFinance #Superstatefunds #MountainUSDM #OpenEden_Labs #Nethermind

Written with ChatGPT (GPT-4o).

Arbitrum DAO Hosts Redelegation Week, Approves 35M ARB Diversification with 99.44% Approval

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