The Arbitrum layer-2 network community proposed to distribute part of the accumulated revenue DAO among ARB governance token holders.
According to a recent statement by the developers, the decentralized DAO has accumulated around 3,352 ETH from base and excess fees.
In total:
The Arbitrum DAO has accumulated ~3,352 ETH in revenue,
The Sequencer will be refunded ~5,954 ETH which is the cost for posting all data to the Ethereum network.How exciting is that?
— Arbitrum (?,?) (@arbitrum) May 10, 2023
“Arbitrum is the only rollup that sends all excess revenue earned from fees to its DAO,” said representatives of the protocol.
The AIP says that the initiative will incentivize the community, and ARB itself will move beyond a “useless governance token.” Rewards will be proportional to the number of coins delegated by each holder.
To implement the idea, Arbitrum’s developers will need to create a dedicated distribution mechanism. The smart contract can be launched repeatedly in the future.
ARB holders must apply to participate in the distribution, but rewards will be available only to owners of delegated tokens. The DAO will provide details on the timing of the distribution later.
In early April, the first AIP sparked a number of complaints from users. They largely concerned handing over control of 750 million ARB to the Arbitrum Foundation. It was proposed that the Foundation would independently use these funds to award grants to foster ecosystem development.
Later, the Arbitrum community by a large margin rejected the proposal to return ARB tokens to the DAO treasury DAO.
In April, the network developers initiated distribution of tokens among the DAOs.