The first community vote of the Ethereum (ETH) layer-2 solution Arbitrum (ARB) team caused great chaos in the project, while the price of ARB decreased.
Arbitrum, which has been on the agenda of the crypto money market in recent days with its large airdrop, attracted attention with the events after its first governance offer to the community.
The Arbitrum network is the first governance proposal to the Arbitrum Foundation. 750 million ARBs worth $1 billion He suggested giving control. It was detailed in the proposal that the billion-dollar budget would be used to finance a “special grant” program.
However, this step has already been taken and just to give a notice on the community side, such a “formality” The announcement of the start of the vote caused chaos. From the community in the first step in governance act without approval it shook the confidence in the decentralized nature of the project and ARB within 24 hours about 10% lost value.
On community response in the statement found team, 10 million ARBs sold for dollars and 40 million ARBs the market maker wintermuteHe stated that it was allocated to . The said transactions ARB is listed day happened. on the other hand 500,000 ARBs was sent to Gnosis Safe as liquidity.
The Arbitrum Foundation acknowledges that feedback from the community is taken into account and About 750 million ARBs again this week a special offer stated that it will start. In the details of the statement, 4 years qualifying also for the duration that new studies place was given.
According to CoinGecko data, in the last 24 hours with the effect of news flow 4.2% depreciating ARB, at the time of writing from $1.21 is being traded.