Arbitrum Faces Hurdles in Reinvesting ETH

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by Giorgi Kostiuk

2 years 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.

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