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The DAO, the governance body that oversees the Arbitrum Layer 2 network, is currently voting on whether to expand the Orbit chain to networks other than Ethereum.
The proposal from the Arbitrum Foundation is undergoing an initial “temperature check” vote in Snapshot and is scheduled to be finalized on August 1, 2024.
The foundation proposed expanding the Arbitrum extension, which was previously limited to blockchains that derive their security from Ethereum (typically second-layer blockchains).
The existing program allows entities to fork the Arbitrum codebase and launch EVM-compatible Orbit Chains, which are customizable blockchains built using Arbitrum’s software stack. Developers can tailor the chain to their specific needs by choosing elements such as transaction throughput, gas tokens, governance, etc. It can be configured to settle directly on Ethereum.
If the latest proposal is approved, new Orbit chains could be launched on various blockchain networks, including Bitcoin, Binance Smart Chain, and Cosmos.
The latest proposal notes interest from projects looking to develop Orbit chains outside of Ethereum, prompting the Foundation to revisit the existing restrictions. The proposed changes could increase Orbit distribution, boosting revenue for ArbitrumDAO and the ecosystem.
The Orbit chain shares 10% of its revenues with the Arbitrum ecosystem, facilitating a mutual financing model that benefits projects.
There have also been suggestions that these changes could spur adoption of the Ethereum Virtual Machine and its upgraded version, Stylet (EVM+).
Preliminary results from the vote show strong support for the expansion, with over 99% of voters supporting the deployment of the Orbit chain across multiple blockchain networks.
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