Arbitrum Community Proposal Applies for Nearly $5M in ARB Tokens to Launch Grants Program

Odaily Planet Daily News The two governance proposals of the Arbitrum community jointly require about $5 million in ARB tokens from Arbitrum's nearly $4 billion treasury to establish a grant program to fund the development of the ecosystem. ARB stakeholders have been voting on one of the grant programs since last week, and voting on the second will begin on Aug. 1. Voting on these programs could bring grant voting rights to ARB token holders, who would have a say in which programs get funded and how much. DisruptionJoe, the anonymous founder of Plurality Labs, said, "If both proposals are successful, the relevant entities will be eager to cooperate, thereby setting a precedent for diversity." (CoinDesk)