Arbitrum DAO’s First Grants Programs Take Shape
Two governance proposals are collectively requesting nearly $5 million worth of ARB tokens to launch grants programs.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/ZNBCQHDUMZC75DHEBMSZBYETGQ.jpg)
(Danny Nelson/CoinDesk)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Arbitrum’s community may soon begin handing out grants as token-holders are hashing out the details of two multi-million dollar programs.
Two governance proposals together request around $5 million in ARB tokens from Arbitrum’s nearly $4 billion treasury to build grants programs that will fund ecosystem development. ARB stakeholders have been voting on one of the grants programs since last week; voting for the second one starts on Monday.
The vote on the programs could yield notable grantmaking powers for ARB token holders, who would get to have a say in which programs get funding, and how much.
They’re separate efforts but not exactly dueling, said the pseudonymous DisruptionJoe, founder of Plurality Labs, which is pitching one of the proposals.
“In the event that both proposals succeed, the entities involved are eager to collaborate, thereby establishing a precedent of pluralism from the very beginning,” DisruptionJoe said in a comment.
Beyond these active votes, other entties based on Arbitrum have sought their own multi-million dollar token allocations, including the trading DEX Camelot. That effort failed this week.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.