Arbitrum invested $215 million in ARB tokens for the development of gaming innovations

Arbitrum invested $215 million in ARB tokens for the development of gaming innovations

user avatar

by Eve Adams

2 years ago


The Arbitrum Foundation, the team responsible for the layer two network Arbitrum, a scaling solution for Ethereum, has directed significant funds towards developing the gaming industry within its ecosystem.

The project involves allocating 225 million Arbitrum (ARB) tokens, approximately worth $215 million, for distribution over three years through the new Gaming Catalyst Program (GCP).

The program aims to rapidly increase the recognition and use of Arbitrum Orbit and Stylus among game developers and players, fostering growth and engagement within the gaming community.

Initially proposed in March, the proposal was approved on June 7, receiving over 75% of the votes. It called for the decentralized autonomous organization Arbitrum (DAO) to approve the allocation of 200 million ARB over two years to stimulate game development on the blockchain.

Notable supporters of the project included L2Beat, Wintermute, and Treasure DAO, a gaming-focused organization. Opponents included Blockworks Research and Camelot DAO.

In response on platform X, Treasure DAO supported the project:

Arbitrum is the home for gaming, let's create some magic.

A significant portion of the fund is allocated for publishers, with new and early-stage developers eligible for grants up to 500,000 ARB (approximately $483,000 at current prices).

More established developers can apply for investments that include an equity component, such as tokens, shares, or similar mechanisms. The remaining funds will be distributed between infrastructure-related rewards and operational expenses, supporting ecosystem growth and development.

A dedicated team will handle the day-to-day activities of the GCP. A five-member board, including experts in gaming, venture capital, data analysis, and DAO management, will provide strategic oversight and guidance.

This governance structure ensures effective fund allocation to achieve the DAO's goals while encouraging innovation and accountability. The board also has veto power over investment decisions and team appointments, ensuring the program's successful implementation and adherence to its principles.

The GCP has established strict financial frameworks, capping its operational expenses at $25 million. Any expenses exceeding this limit require explicit approval from the DAO.

Also in March, the Arbitrum DAO withdrew a proposal to fund legal defense expenses for Tornado Cash developers Roman Storm and Alexey Pertsev.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Federal Reserve Pauses Interest Rate Hike for Upcoming FOMC Meeting

The Federal Reserve is not expected to raise interest rates at the upcoming FOMC meeting, as indicated by recent forecasts and comments from Fed officials.

user avatarMaria Fernandez

Citigroup Increases Price Targets for Bitcoin and Ethereum

Citigroup has raised its 12-month price targets for Bitcoin to $113,000 and for Ethereum to $3,028, citing stronger activity in crypto markets and ETF inflows.

user avatarGustavo Mendoza

TopNod Introduces Axil Pot APT for Enhanced Onchain Yield Management

TopNod has launched Axil Pot APT, a new onchain yield vault that allows users to earn an estimated 8% APY while maintaining instant liquidity.

user avatarRajesh Kumar

MEXC Expands Guardian Fund with Additional 1,000 BTC

MEXC has added another 1,000 BTC to its Guardian Fund, marking the second major allocation this year.

user avatarMiguel Rodriguez

HANetf and HSBC Launch First GBP EUR-Hedged Bitcoin Products

HANetf and HSBC have announced the launch of the first GBP EUR-hedged Bitcoin products, marking a significant development in the digital asset ecosystem.

user avatarLuis Flores

Goldman Sachs Integrates $100 Billion Treasury Fund with Crypto Institutional Frameworks

Goldman Sachs has announced the integration of its $100 billion Treasury Fund with crypto institutional frameworks, marking a significant development in the digital asset ecosystem.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.