2023-04-17
The proposal from Arbitrum to refund 700 million tokens to the DAO treasury, including Arbitrum itself, was rejectedby most of voters on April 15th. This was in response to the adoption of proposal AIP-1.05, which was suggested after the Arbitrum Foundation transferred money without community approval in March.
Link: Arbitrum DAO Proposal: AIP 1.05: Return 700M $ARB to the DAO Treasury [REAL] (snapshot.org)
AIP-1.05 was defeated with a vote of
118 million votes against, which represents 84% of the total votes received.
Meanwhile, approximately 21 million ARB tokens were cast in favor of the
proposal, which is around 14.5% of the total. Additionally, approximately 2
million ARB tokens abstained from voting. The proposal requested that the
Foundation return the tokens "as a symbol to demonstrate that token
holders control the DAO, not the Arbitrum service providers or
Foundation."
"The whale with 4.8 million ARB
tokens stated that this proposal is merely an unnecessary step and slows down
the Foundation's ability to support the growth of the Arbitrum ecosystem.
Another whale, who voted against the
proposal with 18 million ARB tokens, emphasized the importance of balance in
promoting the decentralization and progress of the ecosystem."
