Arbitrum Dao takes measures to improve governance after concerns about transparency and control

Arbitrum Dao takes measures to improve governance after concerns about transparency and control

arbitrum, a layer 2 scalability solution for the Ethereum network, has recently taken steps to address concerns about their governance. These measures were taken after the AIP 1.1 proposal has been approved to create more transparency and control when allocating the DAO financial means. The project was previously criticized for a “special subsidy program”, in which 700 million Arb-token worth over $ 1 billion were awarded directly to the Arbitrum Foundation. This led to considering transparency and decision -making within the project.

Arbitrum, developed by Offchain Labs, offers efficient and inexpensive Smart Contract functions in the Ethereum network. The decentralized autonomous organization (DAO) of Arbitrum plays a crucial role in collective decisions and suggests various initiatives that are being overstated. These initiatives are referred to as Arbitrum Improvement Proposals (AIPS).

one of the latest AIPs, the AIP 1.1 proposal, aims to strengthen control over the Treasury assignment of the DAO. With this proposal, the DAO receives the authority to change the blocking period for allocated tokens. This enables flexibility to extend, shorten or even interrupt the Vesting process. By securing the 700 million Arb-token worth $ 770 million in a vesting contract, the Arbitrum DAO would like to demonstrate its commitment to transparency and responsible corporate management. This step is expected to strengthen trust within the community and promote a more integrative decision -making process.

With these measures, the concerns about the governance of Arbitrum are intended to clear. A transparent and responsible administration of the funds is of crucial importance to gain the trust of the community and ensure that all decisions are made in the best interest of the project.

source:
[Coinunited.io]