The lockup mechanism and gradual release of tokens over time ensure a responsible approach to managing the funds. The transparency reports will be crucial in building trust and ensuring the funds are utilized in the best interest of the community. It’s great to see a focus on ecosystem growth and strategic partnerships as well. Overall, this proposal demonstrates a commitment to transparency, accountability, and responsible financial management.
@Arbitrum what is going on with Arbitrum Foundation? This deafening silence could cause disinterest. What is the issue exactly? At least communicate with the community.
Please attend to the question above
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The engineering for this proposal is now complete and available at ArbitrumFoundation/governance PR #44
This includes the code for the lockup contract as well as an audit report for it Trail of Bits Audit Report.
This should be going live for a vote soon, but wanted to first share it for discussion.
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It is now live for an on-chain vote Tally | Arbitrum Proposal
Edited update:
The previous proposal was misconfigured, the correctly setup one can be viewed at Tally | Arbitrum Proposal
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i see a second vote is going up for this… so we should just ignore the first vote right?
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yes, that seems like a reasonable proposition.
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Did you read the later explanations of the whole situation.
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So I’m considered about the Budget Plan. As you said remaining 7% of ARB tokens will be released like total of x million tokens over each for 4 years but in the mentioned plan its just concerns only 36m? No information has been given about what will happen to the rest. I hope Arbitrum will clarifies this.
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First of all, we would like to thank Arbitrum for updating AIP 1.1 and making the confusing explanation clear about timestamps in the vesting smart contract and budget allocation transparency previously stated. The update also clarified the questions of delegators who stayed abstain for these reasons. Moreover, there are a few points we would like to make concerning the proposal.
1.Smart Contract Lockup
We believe that having control over the budget and easy access to funds in an emergency are critical for the DAO. With this planning, we believe that spreading the token locks over time is the best option. As an outcome, the community’s trust in Arbitrum about the budget was maintained. However, we believe that the budget allocation plan is lacking in details; we expect that this problem will be resolved in the future thanks to the transparency reports from Arbitrum.
2.Operating Budget
Arbitrum promises to publish a transparency report if it is determined that the budget is not being handled as stated in the plan. Because the budget distribution lacks sufficient clarity, we believe that transparency reports must be published. We are in favor of doing so.
3.Ecosystem Growth Initiatives
Partnerships, grants, and events mentioned in the plan will undoubtedly foster ecosystem growth. We support Arbitrum’s budget for the growth of its ecosystem; we simply hope that they are clear and honest and do not end up changing the budget.
4.Transparency Reports
It is a fact that these reports must exist for transparency monitoring. Arbitrum’s decision to endorse this approach in response to community and online forum requests is a wise one. Despite the fact that we do not believe that there is a problem right now, we want the reports to be more in-depth in the future.We applaud Arbitrum for creating solutions in accordance with the community’s preferences and anticipate that it will keep moving in that direction.
We looked at the idea and came to the conclusions we did. Therefore, we made the decision to vote “for”. Again, many thanks to Arbitrum.
The flood we posted for AIP 1.1 and AIP 1.2 during the Snapshot vote: https://twitter.com/itublockchain/status/1648989259712348160?s=46&t=hGD89a6tl7pW8rFWA7BnNw
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