{"id":81443,"date":"2023-07-07T17:52:17","date_gmt":"2023-07-07T14:52:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81443"},"modified":"2025-09-11T22:52:23","modified_gmt":"2025-09-11T19:52:23","slug":"arbitrum-dao-allocated-770-million-arb-for-project-development","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/arbitrum-dao-allocated-770-million-arb-for-project-development\/","title":{"rendered":"Arbitrum DAO allocated 770 million ARB for project development"},"content":{"rendered":"<p>The decentralized autonomous organization (DAO) Arbitrum <a href=\"https:\/\/arbiscan.io\/address\/0x15533b77981cDa0F85c4F9a485237DF4285D6844\">blocked 700 million ARB<\/a> (~$783 million at the time of writing) to fund the project\u2019s foundation.<\/p>\n<p>The Arbitrum Foundation will gradually receive assets over four years. The funds will be directed to the development of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">second-layer network<\/a>.<\/p>\n<p>The initiative was implemented after the approval of <span data-descr=\"Arbitrum Improvement Proposal \u2014 a proposal to improve Arbitrum\" class=\"old_tooltip\">AIP<\/span>-1.1, which proposes introducing a vesting period, clearly defined budgeting principles, and mandatory transparency reporting.<\/p>\n<p>The initial proposal drew <a href=\"https:\/\/forklog.com\/en\/news\/the-arbitrum-communitys-first-governance-vote-failed\">a wave of complaints<\/a> from users, who mainly concerned the transfer of control of 750 million ARB tokens to the Arbitrum Foundation. It was envisaged that the fund would independently use these funds to grant awards for the project\u2019s development.<\/p>\n<p>According to data from <a href=\"https:\/\/www.coingecko.com\/en\/coins\/arbitrum\">CoinGecko<\/a>, the price of ARB rose by 3.1% over the past 24 hours \u2014 to $1.12.<\/p>\n<p>Earlier, the Arbitrum community <a href=\"https:\/\/forklog.com\/en\/news\/arbitrum-outlines-plan-to-distribute-arb-tokens-among-holders\">proposed<\/a> distributing a portion of accumulated proceeds <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">to the DAO<\/a> among governance token holders. By mid-May, the organization had accrued about 3,352 ETH from base and extra fees.<\/p>\n<p>In April, the network team <a href=\"https:\/\/forklog.com\/en\/news\/arbitrum-launches-governance-token-distribution-to-daos\">initiated token distributions<\/a> among the DAOs. The protocol moved 113 million ARB \u2014 1.13% of the total supply \u2014 to the addresses of 125 decentralized autonomous organizations.<\/p>\n<p>In June, Arbitrum developers <a href=\"https:\/\/forklog.com\/en\/news\/arbitrum-developers-unveil-tool-to-build-l3-solutions\">rolled out<\/a> a tool for launching third-layer blockchains using the Orbit software stack.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Arbitrum decentralized autonomous organization (DAO) blocked 700 million ARB (~$783 million at the time of writing) to fund the project\u2019s foundation.<\/p>\n","protected":false},"author":1,"featured_media":81444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1335,80],"class_list":["post-81443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-arbitrum-arb","tag-dao"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81443"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81443\/revisions"}],"predecessor-version":[{"id":81445,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81443\/revisions\/81445"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81444"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}