Arbitrum Community Approves $35 Million Treasury Diversification Proposal

IconCryptoNewsTerminal Staff11 Jul, 2024

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Arbitrum Community Approves $35 Million Treasury Diversification Proposal

Arbitrum, a leading Layer 2 scaling solution for Ethereum, has passed a community governance proposal to allocate 35,000,000 ARB tokens to six different protocols for treasury diversification. This move aims to enhance the stability and returns of the Arbitrum ecosystem. The proposal, which received overwhelming community support, will see the ARB tokens distributed as follows: 11,000,000 ARB to Blackrock's BUIDL Ethereum-based tokenized fund 6,000,000 ARB to Ondo Finance's USDY 6,000,000 ARB to Superstate's USTB 4,000,000 ARB to Mountain Protocol's USDM 4,000,000 USDC to OpenZeppelin's US Short-Term Treasury Bills 4,000,000 BUSD to Backed Finance's bIB01 By diversifying its treasury, Arbitrum seeks to reduce risk and increase potential returns for the community. The selected protocols offer a range of investment opportunities, including tokenized funds, stablecoins, and short-term treasury bills. This move is a testament to the growing maturity and sophistication of the Arbitrum ecosystem. By actively managing its treasury, the community is positioning itself for long-term growth and sustainability.

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