Tally initiated a proposal to "launch the liquid staking token stARB" to provide yield for ARB and enhance liquidity

ChainCatcher news, according to the Snapshot governance page, Tally's market lead Frisson has proposed a new initiative aimed at enhancing the governance mechanism and increasing security through the implementation of ARB token staking.

The proposal plans to launch a liquid staking token named stARB through the Tally protocol, introducing DeFi and Restaking to achieve token staking yields and compound interest while retaining governance delegation rights for holders.

Development work is expected to begin in August, with a complete ARB staking implementation proposal to be submitted in October. Upon approval of the proposal, $2 million worth of ARB tokens will be provided as development funding.