The Arbitrum Foundation has pledged to lock down 700 million ARB tokens until a budget is passed to address the controversial amount of the DAO.
Arbitrum continues to draw attention in the sector since its inception in the crypto sector. The foundation continues to make decisions in consultation with its community.
Arbitrum Foundation Announces New Decisions in Consultation with the Community
The Arbitrum Foundation has proposed extending the budgetary control and governance powers of ARB token holders with two proposals aimed at turning the page in the crypto governance collapse last weekend.
In a Discord post, the Arbitrum Foundation said that the 700 million ARB tokens remaining in the “Administrative Budget Wallet” will “not move” until the community approves an “acceptable budget” for the total. It also suggested actions to make governance “more accessible”.
It represents a major concession for token holders who are angry that the Arbitrum Foundation is being asked to “confirm” the decisions it has already made. Including the fate of the approximately $1 billion token.
The new proposals come after a community-wide protest erupted over the Arbitrum Foundation’s move to quietly transfer 750 million ARB tokens to one of its own wallets last weekend.
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