Hot Development: Arbitrum’s Statement Regarding Today’s ARB Events!

one of the hot topics of the day Arbitrum (ARB) There has been a new development regarding the 750 million ARB tokens that were voted to be given to the Foundation.

Cryptocurrency Its developers have released an official statement in response to the recent controversy surrounding its proposal for the allocation of 750 million ARB tokens to the Arbitrum Foundation.

According to the first part of the statement, the team behind Arbitrum is aware of the heated discussion taking place within the community and said that the decentralized management is working as intended. The team added that the contribution of the community is crucial to achieve the best results.

The second part of the statement deals with the requests for transparency regarding the approval process of AIP-1, the controversial proposal. The Foundation provided additional context by explaining that in DAO launches some decisions must be made before and in connection with a comprehensive launch.

According to the team, the purpose of AIP-1 was to engage the community in making initial decisions and ultimately allow token holders to show their support by approving the initial decisions and framework through DAO voting.

A partial recovery seems to be taking place in response to the recent development in ARB price.

Arbitrum Developers Announce No ARB Sales

The statement also clarified two basic questions asked by the community. First, according to the statement, the ARB Foundation did not sell 50 million ARB tokens.

Second, the developers said they discussed the rationale behind the initial allocation of 750 million ARB tokens in detail in the forum post.

In the statement, it is stated that for the on-chain transfers of 50 million ARB tokens, 40 million ARB tokens were allocated as a loan to a specialized institution in the field of financial markets. It is stated that the remaining 10 million dollars were converted into fiat money and allocated for operational costs.

*Not investment advice.

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