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Lido is eligible to claim 772,621 ARB tokens, worth more than $1.2 million at current prices, according to a google doc found in Arbitrum Foundation’s governance documents. Moreover, the proposal states that 33,400 wstETH has been bridged to Arbitrum and that the total number of wstETH transactions on Arbitrum stands
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A controversial proposal seeking the return of 700 million ARB governance tokens to Arbitrum's DAO Treasury was rejected by a massive number of votes on April 15. The Improvement Proposal AIP-1.05 was introduced after the Arbitrum Foundation transferred funds without community approval in March. The AIP-1.05 was defeated by 118 million
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As per the proposal, the Foundation should proceed with its budget plan only after returning the tokens. "This is a symbolic gesture to demonstrate that the governance holders ultimately control the DAO, not the Arbitrum service provider nor the Foundation," said a community member. Voting will end on April 14.
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Its new proposals represent a major deviation from the path that Arbitrum was initially towing. The Arbitrum Foundation has responded to last week’s protests of its community of ARB token holders by proposing two new motions. This follows after the huge backlash that erupted over the earlier plans of the foundation
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Arbitrum Foundation pledges not to move remaining 700 million ARB tokens without DAO approval of new proposals. Source
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Arbitrum suffered a big blow during the April 1–2 weekend due to a conflict between ARB tokenholders and the Arbitrum Foundation on the allocation of 750 million ARB tokens worth around $900 million.Data from on-chain analysis firm Arkham Intelligence shows a transfer of $50.5 million out of the disputed allocation
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Ethereum Layer 2 governance platform Arbitrum Foundation has spoken out following the community FUD from its controversial ARB sale. The Arbitrum Foundation is taking heat for offloading 50 million ARB tokens on-chain without community consent. ARB’s value slumped 11% following the sale, with the Foundation explaining it utilized the proceeds in the DAO’s
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In the Discord post, Eli_DeFi said that 750 million ARB token allotment will now be subject to a standalone vote. "We’re working on options to add more accountability," he said, noting Foundation tokens will not be used in votes. (The current vote treats the Foundation's power over that sum as
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Those tokens would fund a “special grants” program meant to foster growth on Arbitrum, the Ethereum layer 2 that airdropped its governance token ARB just last week. But ARB holders would not get a say in who or how Arbitrum Foundation allocates the nearly $1 billion sum, according to the
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New York-based Offchain Labs, the development team behind Arbitrum, a layer-2 scaling solution for Ethereum, has moved 2.679b ARB, worth over $3.7b, on-chain data on Apr. 1 indicates. The ARB transfer to a custodian According to Arkham Intelligence, an analytics firm, the large sum of ARB, making up 27% of the total
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