AIP 1.05: Return 700M $ARB to the DAO Treasury [REAL]
AI summary
This proposal, AIP 1.05, demands the Arbitrum Foundation return 700 million ARB tokens to the Arbitrum DAO treasury. The proponents argue that the initial allocation of these tokens to the Foundation was an overreach and was not approved by the DAO's token holders. They view this as a symbolic act to reassert the DAO's ultimate control over its treasury resources before any further budget proposals are considered.
If passed, 700 million ARB tokens, currently valued at approximately $700 million (assuming $1/ARB), would be transferred from the Arbitrum Foundation back to the DAO's control. This would significantly increase the DAO's direct treasury holdings and re-establish the governance token holders' authority over large token allocations. The Foundation would lose a substantial portion of its allocated funds, potentially impacting its operational capacity, though the proposal states support for future budget proposals for the Foundation.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Abstract
Return the 700M $ARB unjustly allocated to the Foundation from the DAO
What happened with AIP-1 was a clear overreach of the DAO’s power of treasury resources
This is a symbolic gesture to demonstrate that the governance holders ultimately control the DAO, not the Arbitrum service provider nor the Foundation
Only after this has occurred, can we move forward with Budget proposals.
Motivation As stated in (Proposal: AIP-1.1 - Lockup, Budget, Transparency 3),
On March 16, 2023, the Arbitrum networks (Arbitrum One and Arbitrum Nova) were decentralized and given to the newly formed A…