PlutusDAO initiated a proposal to activate ARB staking in the Arbitrum community

ChainCatcher news, PlutusDAO has initiated a "Activate ARB Staking" proposal in the Arbitrum community, which allocates token inflation to users who lock their tokens. The Arbitrum DAO has the authority to mint 2% of the total supply of ARB annually as inflation, with the first minting date set for March 15, 2024 (the minting function can only be called once a year). It is proposed to mint 1.75% of the token supply and distribute it within a year.

Since the minting function is not yet available, PlutusDAO suggests using an equivalent amount of funds from the Arbitrum DAO treasury and establishing a distribution mechanism for the locked ARB token holders. The funds used from the treasury will be replenished when the minting function becomes available on March 15, 2024.