Arbitrum’s “Arbitration Improvement” Proposal was rejected by the community with a serious majority.
Arbitrum, which has attracted a lot of attention since its first launch, continues its community voting. In the last community vote, the majority voted against.
Arbitrum’s Controversial Vote Rejected
Arbitrum’s proposal to return 700 million ARBs was overwhelmingly rejected. A controversial Arbitration Improvement Proposal, aimed at returning 700 million ARB governance tokens, was dismissed with a serious edge. After the developments ARBrose as much as 8 percent.
This vote began when the Arbitrum Foundation reversed course on AIP-1, a crucial governance proposal. This controversial proposal aimed to transfer 750 million ARB tokens to the foundation and ArbitrumHe claimed that he would finance investment projects utilizing the technology of .
700 million ARB AIP 1.05, which aims to return the governance token, was rejected by the community. 118 million ARBs, accounting for 84.01 percent of the total votes, voted against the proposal.
Titled “AIP 1.05: Return 700M ARB to DAO Treasury” ArbitrumThe governance proposal claimed that the unauthorized and premature allocation of 700 million ARB tokens valued at more than $1 billion constituted a significant overage.
