Voting to Return 700 Million Coins to the Community in Arbitrum (ARB) Result Announced!

in the Arbitrum (ARB) The proposal to reassign the management of 700 million ARB tokens to the DAO treasury was rejected by a large majority.

Arbitrum Proposal to Take 700 Million ARB Tokens from the Foundation Rejected

In the voting that ended today, ARB holders used 84.01% of their tokens to reject the offer. However, 14.57% supported the proposal, while 1.42% abstained.

Notable token holders who voted against AIP-1.05 included “0x0eB5,” olimpio.eth, 0xBbE9, galxe.arb, chainlinkgod.eth, and blockworksres.eth, all of whom voted with millions of ARB tokens.

The proposal is thought to suggest that small token holders are primarily interested in increasing the value of Arbitrum’s management token and therefore want the coins returned to the DAO, while large token holders are opposed to the proposal due to the perception that it prioritizes the long-term viability of the platform and the Arbitrum Foundation’s token issuance capacity.

Also, some people may have viewed the proposed forced buyback as a radical measure designed as an attention-grabbing tactic rather than a practical solution.

The events related to the Arbitrum Foundation were mainly related to the token distribution process and the management voting system.

The foundation proposed to allocate 750 million ARB tokens to itself in AIP-1, which was rejected by the community. However, before the proposal was officially approved, the Foundation sold 10 million ARB tokens for fiat money and lent 40 million ARB tokens to a financial institution.

This is when people feel that their voices and opinions are ignored. cryptocurrency It caused a lot of backlash and criticism from the community.

*Not investment advice.