Arbitrum goes back to problematic proposal, Foundation quotes communication errors
Arbitrum goes back to problematic proposal, Foundation quotes communication errors
The Arbitrum Foundation was finally found again due to its governance system. The drama is about the sale of 10 million Arb-token for Fiat by the provider of Ethereum-Layer-2 solutions, even before the community officially ratified its budget.
After the outrage of the community, the Arbitrum Foundation admitted that the first governance proposal-AIP-1-will probably not be able to get through.
arbitrum drama
arbitrum said the foundation "does not exist to sell tokens" and added that the decision about the sale was only made to finance its ongoing operating costs. There are no plans to sell additional tokens at short notice.
aip-1, on the other hand, is divided into smaller parts so that the community can discuss and coordinate the various sub-sections.
Many remarkable personalities in the municipality Pointed that a backtracking was necessary, Arbitrum Foundation, which randomly is a centralized unit, would have made it possible to control over 750 million Arb-token worth around $ 1 billion.
meanwhile admitted Arbitrum that the controversial governance package does not offer transparency about how the funds are output. As part of the budgeting AIP, the team will propose transparency reports behind the minutes to draw the community aware of it.
In addition, the “Special Grants” program of the Arbitrum Foundation, which it described as “vague” and “without DAO involvement”, is renamed “Ecosystem Development Fund”. The focus will be on delivering "context" about how the funds benefit the ecosystem. Regardless of this, the DAO will also be able to initiate new funding programs from your cash register at any time.
"The goal of setting up the Arbitrum Dao was to get a good example to create the most decentralized rollup, and despite this communication error, we will continue to pursue this goal."
arbitrum whales?
The days before the excited introduction of Arb drove the on-chain activity of the popular Layer 2 solution to new record heights. But the youngest drama for the proposal made the price of the token to record declines at the weekend.
The whales remained largely unhindered. The latest Data indicates that two of the six best whales in the last 24 hours token value 811.199 $ and $ 1.69 million. On the other hand, two whales have unloaded tokens worth over $ 1 million at the same time.
The remaining two whales have shown no significant movement.
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