Arbitrum Approves ARB Staking

• Arbitrum approves a proposal for ARB staking.

• MakerDAO disables new WBTC-backed loans.

• Eigen Labs employees received ecosystem airdrops.

• Ethereum Magicians is looking for forum contributors.

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The ArbitrumDAO approved a temperature check proposal to implement ARB token staking through Tally’s liquid staking token system. The system allows ARB holders to stake and delegate their tokens in exchange for stARB, a liquid receipt token representing their stake. The proposal received 91% approval from over 25,000 voters. The initiative is designed to boost voter participation in the Arbitrum DAO by rewarding ARB holders who stake and delegate to active voters. The rewards will be funded from future surplus sequencer fees. The staking mechanism also aims to protect the Arbitrum DAO from governance attacks by increasing the active voting supply. Arbitrum plans to launch ARB staking by October.

MakerDAO governance approved an executive vote to reduce the WBTC debt ceiling to zero DAI, preventing any new loans backed by WBTC collateral. The Loan-to-Value (LTV) for WBTC was also reduced to 0%. The changes do not affect exiting loans backed by WBTC as the liquidation threshold remains unchanged. The DAI Savings Rate has also been reduced to 6%. The move to disable WBTC borrowing on MakerDAO comes as BitGo, the issuer of WBTC, announced that it is transferring control of the protocol to a joint venture involving BitGo, Justin Sun, and the Tron ecosystem. Aave is also considering limiting WBTC collateral.

EigenLayer confirmed that projects within its ecosystem, such as AltLayer, EtherFi, and Renzo, included Eigen Labs employees in their airdrops. CoinDesk, which first reported the story, unveiled that EigenLayer circulated a list of employee wallet addresses to ecosystem projects. According to CoinDesk's analysis, Eigen Labs employees collectively received $5 million worth of airdrops, with EtherFi providing the largest allocation of 10,490.9 ETHFI per employee. EigenLayer updated its policy back in May to direct any future airdrops to the company rather than to individual employees. Eigen Labs also launched a Protocol Guild-like initiative, allowing airdrops to be streamed to a list of EigenLayer contributors.

Ethereum Magicians, a forum dedicated to EIP and technical discussions within Ethereum, is seeking volunteers to help improve the forum's efficiency and adaptability. The current structure needs enhancements to better organize and highlight AllCoreDevs (ACD) and breakout discussions. Community members are encouraged to contribute to curation, moderation, and submit a new logo design for the forum.

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