NEW: The controversial vote over arbitrum’s omnibus governance package – and 750 million in ARB tokens – is a “ratification and not a request,” a Foundation employee said in a blog post. realDannyNelson reports
The Arbitrum ecosystem’s first community vote over everything from protocol governance to billions of dollars in funding was meant as a “ratification and not a request,” Arbitrum Foundation employee Patrick McCorry, said in a forum post early Sunday.
“The point of AIP-1 was to inform the community of all of the decisions that were made in advance,” McCorryof the Arbitrum Improvement Proposal Framework, the omnibus governance package that outlines Arbitrum Foundation’s role in shaping the chain, a faster and cheaper way of transacting on Ethereum.
Last week, Arbitrum began airdropping over 1 billion ARB tokens to nearly 300,000 wallets as part of its effort to share power over the network with its users, a common trope in crypto communities. Holders of the ARB token are considered part of ArbitrumDAO, the so-called “decentralized autonomous organization” that votes on proposals such as AIP-1.
The post may serve to confound what has turned into an early crisis for Arbitrum governance. Votes in favor of “ratification” were winning until the past few hours. But the tide has now shifted strongly toward rejection, raising questions of what will happen if AIP-1 is defeated.
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