The cryptocurrency that grew by more than 9% per day is named

The Arbitrum cryptocurrency (ARB) has risen in price by 9.2% over the past 24 hours. Analysts attributed this rapid growth to the positive news from the Arbitrum community.

Users have supported 2 proposals to improve the project’s performance (AIP — Arbitrum Improvement Proposal). Thus, 98.13% of the ARB community members responded positively to AIP-1.1 and 99.15% to AIP-1.2.

According to AIP-1.1, the Arbitrum network will introduce a four-year vesting period, clearly defined budgeting principles and categories, and mandatory transparency reports.

AIP-1.2 covers amendments to the existing founding documents and lowers the AIP contribution threshold from ARB 5 million to ARB 1 million in order to «increase the accessibility of governance.»

At the end of March, the Arbitrum Foundation distributed 10 billion governance tokens to users, who can vote on changes to the Arbitrum One and Nova network codes. The owners of the control tokens were determined using a specially developed scoring system. The list includes those who have completed more than four transactions or interacted with at least four Arbitrum One smart contracts, as well as those who have contributed more than $ 50,000 in liquidity to Arbitrum.