coindesk.com
Arbitrum’s community may soon begin handing out grants as token-holders are hashing out the details of two multi-million dollar programs.
Two governance proposals together request around $5 million in ARB tokens from Arbitrum’s nearly $4 billion treasury to build grants programs that will fund ecosystem development. ARB stakeholders have been voting on one of the grants programs since last week; voting for the second one starts on Monday.
The vote on the programs could yield notable grantmaking powers for ARB token holders, who would get to have a say in which programs get funding, and how much.
They’re separate efforts but not exactly dueling, said the pseudonymous DisruptionJoe, founder of Plurality Labs, which is pitching one of the proposals.
“In the event that both proposals succeed, the entities involved are eager to collaborate, thereby establishing a precedent of pluralism from the very beginning,” DisruptionJoe said in a comment.
Beyond these active votes, other entties based on Arbitrum have sought their own multi-million dollar token allocations, including the trading DEX Camelot. That effort failed this week.