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Kohshiba has proposed to extend the INSURE token's functionality by registering it on the Arbitrum token bridge gateway, aiming to enhance its liquidity, accessibility, and utility. The proposal, which includes initiating a mining program on the Arbitrum network, requires no cost but may face potential delays due to governance actions needed to unblock certain tokens.
The discussion is centered around a proposal by Kohshiba to extend the functionality and accessibility of the INSURE token, the governance token of InsureDAO. The proposal involves registering the INSURE token on the Arbitrum token bridge gateway, which is currently only operational on the Ethereum mainnet. The goal is to improve the liquidity, accessibility, and utility of the INSURE token. The proposal also includes the initiation of a mining program on the Arbitrum network. The implementation will follow the specification of the Arbitrum custom gateway and will commence once the proposal is approved. It's important to note that no cost is associated with this proposal1. Fred has added that the token bridge smart contracts are controlled by the Arbitrum DAO's upgrade executor, and a governance action is required to unblock certain tokens2.
The community reaction to this proposal is not included in the summaries provided.
The proposal is positive as it aims to enhance the liquidity, accessibility, and utility of the INSURE token. This could potentially attract more users and investors to the platform, thereby increasing its value. Additionally, the proposed developments could boost liquidity and augment safety on the Arbitrum network. Furthermore, the implementation of the proposal comes at no cost, making it a potentially beneficial move for all parties involved1.
The negative aspects of this proposal are not included in the summaries provided. However, Fred's input suggests that the process of unblocking certain tokens requires a governance action, which could potentially delay the implementation of the proposal2.
Posted a month ago
Last reply 24 days ago
Summary updated 24 days ago
Last updated 08/12 04:40