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ARB Delegate Staking Proposal

The proposal seeks to allocate 50% of future surplus sequencer fees to reward ARB token holders who stake and become active delegates.

Quick Take

  • ARB delegate staking proposal.

  • Issuers amend ETH ETF S-1 filings.

  • Talent Protocol introduces its TALENT token.

  • Etherscan releases yield cards.

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ARB Delegate Staking Proposal

Frission, a top delegate in the Arbitrum ecosystem, introduced a proposal to implement ARB token staking. The proposal seeks to allocate 50% of future surplus sequencer fees to reward ARB token holders who stake and actively delegate their tokens. Frission noted that the growing pool of sequencer fees in the DAO's treasury makes it a target for potential governance attacks. Staking enhances the economic security of the Arbitrum DAO by preventing malicious actors from acquiring significant voting power amid declining ARB prices. The proposal also mentions Tally’s liquid staking token system for preserving liquidity. At current prices, the program is projected to offer around 7% APY for stakers. A preliminary temp check vote for the staking program will go live on Snapshot next month.

Issuers Amend ETH ETF S-1 Filings

Six asset issuers, including BlackRock, Invesco, VanEck, Franklin Templeton, Grayscale Investments, and 21Shares, have submitted their amended Spot ETH ETF S-1 forms. The amendments primarily focus on information about their ETF fees. VanEck will have a fee of 20 basis points, while Franklin Templeton’s will be at 19 basis points, creating a competitive environment. In total, eight issuers, including Bitwise and Fidelity, are now awaiting feedback from the SEC regarding any further modifications. Approval of the Form S-1 filings is necessary before Spot ETH ETF trading can begin. Bloomberg analyst Eric Balchunas anticipates that trading for the ETFs will start by Tuesday, July 2nd.

Talent Protocol Introduces TALENT

Talent Protocol launched TALENT, the native token for its onchain reputation platform. Alongside the token, Talent is hosting the Summer of $TALENT, which includes a series of online and offline community-building events. TALENT has a total supply of 600 million tokens. 10 million are allocated for an initial airdrop, expected to launch in July. Another 20 million are available for the Community Round, where participants can buy their share. Eligible users will need to complete a proof-of-humanity KYC process to claim their tokens. Talent Protocol aggregates social graphs from both web2 and web3, enabling users to create a Talent Passport serving as their builder resume.

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