The Arbitrum community is demanding the return of 700 million ARB tokens to its DAO Treasury after the Arbitrum Foundation transferred the funds without receiving the community’s approval in March. The transfer of the tokens caused significant concern among ARB holders, leading to a proposal for the return of the funds.
According to the proposal, the foundation should only proceed with its budget plan after returning the tokens. “This is a symbolic gesture to demonstrate that the governance holders ultimately control the DAO, not the Arbitrum service provider nor the Foundation,” said a community member. The proposal has gained support from 55% of voters, with 42% opposing it and 2% abstaining. Voting will end on April 14.
The dispute between Arbitrum’s foundation and its community started at the end of March, following the foundation’s first governance proposal (AIP-1), which called for funding its operations with 750 million ARB…
