Arbitrum Proposal To Return 750 Million Tokens Slated To Fail
With just one day left to cast governance votes, Arbitrum Improvement Proposal 1.05, which seeks to refund 700 million ARB tokens “unjustly allocated to the Foundation from the DAO,” is expected to lose by a landslide. As of this writing, 113 million Arbitrum governance tokens have voted against the proposal, representing more than 83.35% of the overall vote. 20 million ARB tokens voted in favor of the proposition, while 2.2 million abstained.
To address the collapse of crypto governance, the Arbitrum Foundation proposed two additional ideas on increasing the custody and control of ARB token holders. The first proposal, AIP-1.1, calls for the Foundation’s remaining 700 million ARBs to be put in a smart contract-controlled lock that will be freed over the course of four years. The idea seems to have gone through despite the fact that token holders voted heavily against it. There is even evidence that the project has gone through the community’s scrutiny, arbitrarily moved, and sold the number of tokens listed above. The second proposal, AIP-1.2, attempts to change many governance documents in this ecosystem.
Source
https://t.me/Crypto_Futures_Trading
