AIP-1.1 - Lockup, Budget, Transparency
AI summary
This proposal, AIP-1.1, addresses the 7.5% of Arbitrum's native token, ARB, allocated to the Arbitrum Foundation's "Administrative Budget Wallet." It proposes to lock up the remaining 7% of these tokens in a smart contract, releasing them gradually over four years. The proposal also outlines a budget for the Foundation and establishes transparency reporting mechanisms for how these funds are spent. The Foundation uses these funds for operational costs, service providers, and ecosystem growth.
If passed, the Arbitrum Foundation will have a clear budget and a four-year vesting schedule for its ARB tokens, ensuring a predictable funding stream for its operations and ecosystem development. This provides more financial stability for the Foundation and increases transparency for the DAO regarding how its funds are utilized. The DAO gains more oversight over the Foundation's spending.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Abstract tl;dr: AIP-1.1 proposes (1) a lockup, (2) a budget and (3) transparency reporting regarding the 7.5% of the $ARB tokens distributed to the Foundation’s “Administrative Budget Wallet”.
The Administrative Budget Wallet will be used for covering ongoing administrative and operational costs of The Arbitrum Foundation, payment of service providers, and for the purpose of fostering the growth and development of the Arbitrum ecosystem. In respect to the 7.5% that has been distributed to the Administrative Budget Wallet, a transparency report regarding the 0.5% that has already been transfer…