The Arbitrum community passed a revamped proposal to launch staking for ARB holders on Nov. 6.
The approved plan will use ARB from the project’s treasury to fund staking rewards, for which two-thirds of the community supported an allocation of 100M tokens.
Arbitrum earmarked the tokens to fund staking rewards for the next 12 months, with users able to lock their tokens for up to 365 days to earn greater yields. Early exits will incur penalties of up to 60%, depending on the duration of the remaining lock period.
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#undefined [Source: TheDefiant]