• 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

Coinbase Denies Allegations of Opposing Bitcoin Tax Exemption

chest

Coinbase denied allegations of opposing the proposed Bitcoin de minimis tax exemption, asserting its commitment to Bitcoin advocacy.

user avatarMohamed Farouk

Bitcoin Policy Institute Highlights Legislative Efforts for Bitcoin Tax Exemption

chest

The Bitcoin Policy Institute published a report on the ongoing discussions in Congress regarding the Bitcoin de minimis tax exemption, emphasizing Senator Cynthia Lummis's efforts.

user avatarElias Mukuru

Blockchain.com Launches in Ghana, Ties Crypto to Mobile Money

chest

Blockchain.com has launched operations in Ghana, focusing on integrating crypto payments with the country's mobile money system.

user avatarDiego Alvarez

Shantanu Narayen to Step Down as CEO of Adobe

chest

Shantanu Narayen, the CEO of Adobe, announces his plan to step down after nearly two decades, while remaining as board chair.

user avatarKenji Takahashi

Tech Companies Restructure Amid Rise of Generative AI

chest

Tech companies are restructuring and cutting jobs in response to the rise of generative AI, focusing on hiring experienced developers.

user avatarMaria Fernandez

Bitcoin Exchange Reserves Drop to Lowest Level Since 2019

chest

Bitcoin exchange reserves have dropped to approximately 275 million BTC as of March 12, 2023, the lowest level since 2019, indicating a shift in storage and trading practices.

user avatarRajesh Kumar

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.