• 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

Aave Faces Major Crisis Following Kelp DAO Exploit

chest

Aave is facing a major crisis due to a $293 million exploit at Kelp DAO, leading to a confidence crisis and significant withdrawals.

user avatarJesper Sørensen

Aave's Borrowing Activity Collapses Post-Crisis

chest

Aave's borrowing activity has dramatically declined post-Kelp DAO exploit, signaling a lack of confidence in the protocol.

user avatarRajesh Kumar

Ethereum Market Sees Shift Towards Derivatives Trading

chest

A significant divergence has been observed in Ethereum trading, with derivatives gaining dominance while spot market volumes decline.

user avatarLucas Weissmann

Senate Banking Committee Moves Forward with Warsh's Nomination for Fed Chair

chest

The Senate Banking Committee has advanced Kevin Warsh's nomination to succeed Jerome Powell as Fed chair.

user avatarFilippo Romano

Federal Reserve Maintains Steady Interest Rate Amid Global Economic Concerns

chest

The Federal Reserve maintained its benchmark interest rate steady at 3.5% to 3.75% amid global economic concerns.

user avatarEmily Carter

CLARITY Act Moves Closer to Senate Vote

chest

The long-awaited CLARITY Act is nearing its final procedural hurdle in the Senate, with a vote expected in May.

user avatarTomas Novak

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.