← Back to Arbitrum
Arbitrum · closed proposal

Furucombo's Misuse of Funds

0xAbAb…5E99·ended 2y ago·Discussion ↗·MEDIUM RISK
Voters
4,296
ARB voted
145.84M
≈$11.42M
Token price
$0.08

AI summary

This proposal asks the Arbitrum DAO to decide whether to permanently ban Furucombo, including its team members, from all future Arbitrum DAO programs. This action is prompted by the Arbitrum Foundation's finding that Furucombo misused 59,500 ARB tokens from its Backfund STIP grant. Furucombo allegedly failed to publish a final report, sent the funds to exchange accounts making their use unclear, and froze incentives for users, leading to claims of significantly fewer rewards than expected. Furucombo did not respond to the Arbitrum Foundation's request to address these issues.

Impact

If passed, Furucombo and its affiliates will be permanently barred from receiving future grants or participating in any Arbitrum DAO programs. This decision aims to uphold accountability for grant recipients and protect the integrity of the Arbitrum ecosystem. If it fails, Furucombo may still be eligible for future programs, despite the alleged misuse of funds.

Read full proposal on Snapshot

Voting results

FOR - Ban Furucombo from the Arb138.78M (95.2%)
AGAINST - Do not ban Furucombo6.51M (4.5%)
ABSTAIN544.45K (0.4%)
145.84M ARB · ≈$11.42M · 4296 votersblock 233868061

🐳 Whale votes

0 votes > 5% VP
No whale votes on this proposal.

Full proposal

Original markdown · Arbitrum

Abstract

Having reviewed the STIP Analysis (ARDC Research Deliverables) prepared by Blockworks, the Arbitrum Foundation has observed that Furucombo misused 59.5K $ARB of its Backfund STIP grant.

Accordingly, the Arbitrum Foundation is seeking a decision from the ArbitrumDAO on whether to ban Furucombo from the ArbitrumDAO.

Motivation

On Jul 11, 2024, the Arbitrum Foundation made a public request, for Furucombo to present i…

📚 Similar past proposals

Finding similar proposals…