Arbitrum (ARB) has created a new model to solve the problems on the governance side, after intense reactions from the community.

Arbitrum, which gained popularity with its airdrops in the crypto industry, had a rapid rise in the market. The project, which is listed on many major crypto exchanges, has become one of the most talked about cryptocurrencies on social media. However, Arbitrum ran into a few problems on the governance side, which it was running with the logic of the DAO. The governance system, which caused intense reaction from the community, is being tried to be resolved by the project team with new solution proposals.

Arbitrum Releases Its New Governance

Ethereum layer-2 project Arbitrum (ARB) has recently released a new Arbitrum Improvement Proposals (AIPs) for the management of the network.

Among the new proposals released by the project team are AIP-1.1, which covers the smart contract lock program, spending procedures, budget plans, and increased transparency.

Another proposal, AIP-1.2, aims to address revisions to the project’s existing foundation documents. In addition, AIP-1.2 plans to lower the bid threshold from 5 million ARB to 1 million ARB, with the heading “to make governance more accessible”.

In a tweet by Arbitrum, it was stated that a consensus has been reached against AIP-1 for the governance of the DAO.

The Arbitrum Foundation also presented a transparency report to the community, “explaining the measures taken to make the DAO operational”.