• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Arbitrum Faces Hurdles in Reinvesting ETH

user avatar

by Giorgi Kostiuk

a year ago

Arbitrum's proposal to reinvest 7,500 ETH from its treasury into DeFi projects faces opposition within the DAO.

Reaction to GMC's Proposal

The Growth Management Committee (GMC) of Arbitrum proposed to allocate some of their ETH to external DeFi projects. However, some delegates expressed dissatisfaction that Arbitrum-native projects were not considered in the proposal.

Criticism from Delegates

Delegates argue for the need to support projects operating on the Arbitrum platform rather than external platforms. Some DAO members have raised doubts about the validity of GMC's proposals.

Part of the funds could have been allocated to other protocols supporting Arbitrum.

Preparation for Voting

The proposal will be put to a Snapshot vote requiring a 3% quorum of votable tokens and a simple majority to pass. Delegates anticipate that the proposal will be rejected.

The question of Arbitrum's ETH reinvestment will be decided in the upcoming vote. Its outcome could lead to a shift in the DAO's treasury strategy.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Reference to Mt. Gox in Editorial Discussions

chest

Reference to Mt. Gox in relation to editorial policy and its implications for cryptocurrency discussions.

user avatarAisha Farooq

Binance Report Highlights Editorial Policy

chest

Binance has released a report emphasizing its strict editorial policy that focuses on accuracy, relevance, and impartiality.

user avatarTenzin Dorje

Chainlink CCIP v16 Upgrade Enhances Interoperability with Solana Support

chest

Chainlink has announced the release of its CCIP v16 upgrade, which enhances interoperability by introducing support for Solana and improving flexibility across various virtual machine designs.

user avatarBayarjavkhlan Ganbaatar

XRP Holds Above Key Psychological Level Amid Market Uncertainty

chest

XRP is trading around the critical $1 level, which is being closely monitored by traders as the cryptocurrency market awaits direction.

user avatarMohamed Farouk

Open Standard Launches Open USD Stablecoin to Challenge Market Leaders

chest

Open Standard has launched Open USD, a dollar-backed stablecoin supported by over 140 businesses, aiming to challenge market leaders Tether and Circle.

user avatarElias Mukuru

Solana's Price Drops Below 80 Amidst Ongoing Ecosystem Development

chest

Solana's price has fallen below the 80 mark, raising caution among traders, but the ecosystem continues to grow with real-world assets and DeFi activities.

user avatarDiego Alvarez

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.