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The Arbitrum Foundation has released a raft of new improvement proposals following the fracas that ensued after its first failed attempt at governance.On April 5, Ethereum layer-2 solutions provider Arbitrum posted new Arbitrum Improvement Proposals (AIPs) for the governance of the network.The new proposals include AIP-1.1, which covers a smart
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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’s DAO was pitched as a way to “decentralize” control of the protocol’s development away from Offchain Labs, the company that launched Arbitrum, and bring users and “the community” into the fold. Tokens were airdropped, a reward to early adopters of the system, seemingly with great promise. Unfortunately, the project
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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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Pedro Herrera says with failures in the banking system and centralized exchanges facing regulatory scrutiny, there is a renewed interest in decentralized finance. Source
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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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Decentralized multichain digital wallet solution BitKeep Wallet has announced that it has surpassed 10 million users as of April. The platform has seen tremendous growth in recent months, with over 560,000 new users onboarded in March alone. The surge in users can be attributed to several successful campaigns with popular
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Ethereum layer 2 solutions provider Arbitrum has backtracked on its governance voting system following community backlash from token holders.On April 2, the Arbitrum Foundation tweeted that its first governance proposal, AIP-1, “likely will not pass” and added its “committed to addressing the feedback received from the community.”The move will break
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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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McCorry said there’s a “chicken and egg problem” in setting up decentralized governance structures. In the case of Arbitrum, “certain parameters need to be decided” ahead of time, including the structure of a “security council” that wields emergency powers, deciding voting mechanics, and of course, the funding. Source
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