Arbitrum Foundation Will Obtain $1 Billion Once The AIP-1 Proposal Is Approval
Key Points:
- Despite the fact that the plan has yet to be authorized, a multi-signature wallet with the address “Arbitrum DAO Treasury2” has been established and has received nearly 700 million ARB coins.
- Snapshot has started voting on the plan, and the present support percentage is close to 90%. The voting period will conclude on April 3.
Arbitrum has announced to launch the AIP-1 plan to launch ArbitrumDAO.
The voting on a plan to establish a governing body for the newly created decentralized autonomous organization (DAO) has started days after Arbitrum‘s ARB governance token airdrop.
The plan, dubbed Improvement plan 1 (AIP-1), details steps to establish The Arbitrum Foundation, a corporation tasked with expanding the ecosystem. The foundation would be located in the Cayman Islands and would cost $3.5 million, which would cover legal fees, management costs, and licensing fees.
So far, approximately 3.5 billion $ARB tokens worth approximately $4.8 billion have been moved to an account known as “Arbitrum DAO Treasury1,” making it the biggest $ARB token holder.
According to Lemma, the organization behind the plan, “the ArbitrumDAO will have direct on-chain governance powers over the DAO Treasury in accordance with the AIP process as delineated in the ArbitrumDAO Constitution.” Lemma is a service supplier to the Foundation, mainly concentrated on governance components of operations.
So far, three initial trustees for the proposed charity have been named: Campbell Law, Edward Noyons, and Ani Banerjee. A 12-member Security Council Committee would also be established. Law looks to be a co-founder of digital asset compliance company Provenance, while Noyons is a director at Marfire, a DAO consulting firm. The origin of Banerjee is unknown.
Despite the fact that the plan has not yet been authorized, a multi-signature wallet with the address “Arbitrum DAO Treasury2” has been established and has received nearly 700 million $ARB coins. Voting will close on April 3rd before being completed on-chain. As of this writing, nearly 90% of votes were in support of the plan, with 10% opposed.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Chubbi
Coincu News
Author
News
Arbitrum Foundation Will Obtain $1 Billion Once The AIP-1 Proposal Is Approval
Key Points:
- Despite the fact that the plan has yet to be authorized, a multi-signature wallet with the address “Arbitrum DAO Treasury2” has been established and has received nearly 700 million ARB coins.
- Snapshot has started voting on the plan, and the present support percentage is close to 90%. The voting period will conclude on April 3.
Arbitrum has announced to launch the AIP-1 plan to launch ArbitrumDAO.
The voting on a plan to establish a governing body for the newly created decentralized autonomous organization (DAO) has started days after Arbitrum‘s ARB governance token airdrop.
The plan, dubbed Improvement plan 1 (AIP-1), details steps to establish The Arbitrum Foundation, a corporation tasked with expanding the ecosystem. The foundation would be located in the Cayman Islands and would cost $3.5 million, which would cover legal fees, management costs, and licensing fees.
So far, approximately 3.5 billion $ARB tokens worth approximately $4.8 billion have been moved to an account known as “Arbitrum DAO Treasury1,” making it the biggest $ARB token holder.
According to Lemma, the organization behind the plan, “the ArbitrumDAO will have direct on-chain governance powers over the DAO Treasury in accordance with the AIP process as delineated in the ArbitrumDAO Constitution.” Lemma is a service supplier to the Foundation, mainly concentrated on governance components of operations.
So far, three initial trustees for the proposed charity have been named: Campbell Law, Edward Noyons, and Ani Banerjee. A 12-member Security Council Committee would also be established. Law looks to be a co-founder of digital asset compliance company Provenance, while Noyons is a director at Marfire, a DAO consulting firm. The origin of Banerjee is unknown.
Despite the fact that the plan has not yet been authorized, a multi-signature wallet with the address “Arbitrum DAO Treasury2” has been established and has received nearly 700 million $ARB coins. Voting will close on April 3rd before being completed on-chain. As of this writing, nearly 90% of votes were in support of the plan, with 10% opposed.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Chubbi
Coincu News
Other Posts
Related Posts
Latest
Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B
Crypto Advisory Council Now A White House Position Attracting Leaders
Press Release
Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B
Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries
