AIP 1.05: Return 700M $ARB to the DAO Treasury
AI summary
This proposal asks the Arbitrum Foundation to return 700 million ARB tokens to the Arbitrum DAO's treasury. The proponents argue that these tokens were allocated to the Foundation without proper approval from the DAO token holders, and that this action was an overreach of the DAO's power over its own resources. They view this as a symbolic move to assert the governance holders' ultimate control.
If passed, the Arbitrum Foundation would be required to return 700 million ARB tokens, currently valued at approximately $700 million, to the DAO treasury. This would significantly increase the DAO's direct control over a large portion of its token supply and could set a precedent for future treasury allocations. The Foundation would lose direct control over these funds, potentially impacting its operational budget and ability to fund ecosystem initiatives.
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…