On May 8, news reported by TheBlock states that the Arbitrum community has decided through on-chain voting to allocate approximately $11.6 million worth of 35 million ARB tokens for the investment in tokenized U.S. Treasury bonds.
The funds will be distributed to tokenized bond products issued by three institutions: Franklin Templeton, Spiko, and WisdomTree.
The voting commenced on May 1 and passed with nearly 89% support. A professional committee elected by the community evaluated over 50 proposals based on multiple criteria including management fees, fund size, and risk control, ultimately selecting these three institutions.
The head of Franklin Templeton's digital asset business stated that this collaboration will leverage the technological advantages of the Arbitrum Layer 2 network to provide efficient financial services to clients.
Advisory agencies from the Arbitrum community believe this is a significant milestone for deep collaboration between the cryptocurrency sector and traditional financial institutions. According to the plan, unselected applicants will have the opportunity to participate in the next round of fund allocation.
