• About Us
  • Careers
  • Contact
No Result
View All Result
Friday, June 27, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

Arbitrum Foundation Responds to Criticism Over ARB Token Allocation, Agrees to Revise Proposal

3 April 2023
in Latest News, News
Reading Time: 3 mins read
105 6
Home News Latest News

The Arbitrum Foundation has recently come under fire from the crypto community over the allocation of 750 million ARB tokens as it plans to launch the Arbitrum DAO. The Foundation responded to the backlash and published a detailed post and Twitter thread explaining its actions. 

1/ There’s a very lively discussion on the Arbitrum governance forums regarding AIP-1. Decentralized governance is working as intended. We are all one community and fierce public discourse will yield the best outcomes.

🧵👇

— Arbitrum (💙,🧡) (@arbitrum) April 2, 2023

The Foundation released the Arbitrum Improvement Proposal (AIP-1) last week and asked its community (token holders) to vote on several governance decisions, including the allocation of ARB tokens and the appointment of twelve signatories of a multi-sig wallet as a Security Council. The proposal also aimed to engage the community about initial decisions and ultimately have token holders signal their support.

However, the community did not agree with the allocation of 750 million ARB tokens,  which represents 7.5% of the total supply of 10 billion tokens, to the Foundation. A Twitter user, @Cringe accused the Foundation of moving the amount of tokens mentioned earlier on March 16 and sending the funds to Binance on March 23, 2023. 

1) Today I looked into what’s happening at Arbitrum and what I have found was not very encouraging to say the least.
(As someone who holds 1.4mil $ARB)

1. The team moved out 750,000,000 $ARB on the 16th of March
2. The team then proceeded to send out funds to Binance on the 23rd pic.twitter.com/PVYaDOcs52

— Cringe.eth (@Cringe) April 2, 2023

In its response, the Arbitrum Foundation argued the allocation of ARB tokens was in line with other projects run by Polygon, the Starknet Foundation, and Optimism. It also claimed that Arbitrum would not be able to compete with other ecosystems without a certain degree of centralized decision-making.

The Foundation stated:

“The goals of AIP-1 were to engage the community about initial decisions and ultimately have token holders signal their support by ratifying the initial decisions and framework via DAO voting, and we’re grateful for community feedback.”

The Foundation also admitted that it could have clarified that the AIP-1 was a ratification. The Foundation stated that engaging with the community before launching the DAO was necessary to ensure a decentralized decision-making process.

The Foundation conceded that AIP-1 “likely will not pass,” and is committed to addressing the community’s concerns. The project will follow the DAO’s advice and split the AIP into parts to allow the community to discuss and vote on the different subsections.

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.



Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share64Tweet40Share11
Previous Post

Alchemy Pay Partners With DWF Labs to Expand Into South Korea, Raises $10 Million

Next Post

Japan’s FSA Issues Warning to Bybit and 3 Foreign Crypto Exchanges Over Unregistered Operations

Favour Olaiya

Favour Olaiya

Favour is passionate about education and empowering people through knowledge sharing. He creates content centered around societal development and providing access to technology. When he's not doing this, you can find him nose-deep in classic books or taking a deep dive into the intriguing history of science.

Related Posts

source: news.bitcoin.com
Crypto

BloFin Expands Derivatives Lineup with Coin-Margined Perpetual Contracts

27 June 2025
sourcce: vecteezy.com
Bitcoin

Bitcoin Solaris Named Most Undervalued Presale by Live Coin Watch

27 June 2025
pymnts.com
News

US Senate Targets September for Landmark Crypto Market Structure Legislation

27 June 2025
source: wamda.com
Crypto

Resolv Protocol Repurchases Tokens Amid Market Drop, Denies Internal Sell-Off Rumors

27 June 2025

Featured Posts

Has Web3 Failed to Protect the Core Innovations of Crypto and DeFi?

Has Web3 Failed to Protect the Core Innovations of Crypto and DeFi?

byOlajumoke Oyaleke
15 June 2025
0

Are Green Cryptocurrencies the Future of Blockchain Sustainability?

Are Green Cryptocurrencies the Future of Blockchain Sustainability?

byOlayinka Sodiq
12 June 2025
0

Web3 Gaming’s Scaling Crisis: Why Innovation Alone Isn’t Enough

Web3 Gaming’s Scaling Crisis: Why Innovation Alone Isn’t Enough

byOlayinka Sodiq
10 June 2025
0

What Is Price Slippage in Crypto & How Can You Avoid It

What Is Price Slippage in Crypto & How Can You Avoid It

byOlayinka Sodiq
4 June 2025
0

The Rise of Decentralized Identity Solutions in DeFi

The Rise of Decentralized Identity Solutions in DeFi

byOlayinka Sodiq
20 October 2024
0

Read More

Chain of Thoughts

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Is Tokenization All That It’s Cracked Up To Be?

Is Tokenization All That It’s Cracked Up To Be?

byOlu Omoyele
26 February 2025
0

...

Markets Update

What South Korea’s Crypto Strategy Signals for the Next Bull Run?

22 hours ago

Why Crypto Projects Are Choosing MiCA Over the US, Even With Regulatory Support on the Rise

23 hours ago

Tokenized Treasuries vs. Stablecoins: Where Will Institutional Capital Flow?

23 hours ago

Ethereum Transaction Fees Plunge to 5-Year Low Amid Network Lull: What This Means for the Crypto Market

1 day ago

First XRP ETF Approved on Toronto Stock Exchange— Is This a Green Light for XRP ETF Approvals in More Countries?

3 days ago

Your Weekend Crypto Roundup | June 2025 (Week 3)

7 days ago
Read More

Events

  • No events
  • Spotlight

    All about Ethereum
    All about Algorand
    All about Bitcoin
    All about Gora

    Press Releases

    Bybit Expands Global Reach with Credit Card Crypto Purchases in 25+ Currencies and Cashback Rewards

    bychainwire
    27 June 2025
    0

    BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision and South Korea Strategy

    bychainwire
    27 June 2025
    0

    The Rise of AI Beings: CARV’s New Roadmap Signals Next Wave of Web3 AI

    bychainwire
    27 June 2025
    0

    Weed® Announces Partnership with Khalifa Kush; Launches Global Commercialization

    bychainwire
    26 June 2025
    0

    GBM Launches Auction Festival with The Sandbox, Aavegotchi, Unstoppable Domains, and More

    bychainwire
    26 June 2025
    0

    Read More

    ADVERTISING

    ABOUT

    TEAM

    CAREERS

    CONTACT

    TERMS & CONDITIONS

    PRIVACY POLICY

    © Copyright 2025 DeFi Planet

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

    Add New Playlist

    No Result
    View All Result
    • News
      • People
      • Business
      • Crime
      • Regulation
      • Crypto
      • CBDC
    • Markets
      • Bitcoin
      • Ethereum
      • Stablecoins
      • Altcoins
      • Crypto ETFs
      • Memecoins
    • Policy
    • Articles
      • Press Releases
      • Opinion
      • Explainers
      • Guest Post
      • Sponsored
    • Directory
      • Companies
      • People
      • Products
      • Wallets
    • Multimedia
      • Videos
      • Podcasts
    • Learn
      • DeFi Basics
      • Tutorials
      • Reviews
      • Blockchain Fundamentals
    • Research
      • Case Studies
    • Explore
      • DeFi
      • Crypto Gaming
      • NFT
      • DAO
      • Metaverses
    • Jobs
    • Markets Pro
      • DeFi Planet Pro
      • Spend Crypto
      • Swap Crypto
      • Coin Prices
      • Crypto Exchanges
      • Crypto Analyzer

    © Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

    -
    00:00
    00:00

    Queue

    Update Required Flash plugin
    -
    00:00
    00:00