$1B at stake as Arbitrum’s initial governance proposal ignites controversy

The Arbitrum Foundation, a non-profit organization that oversees the development of the Arbitrum blockchain platform, recently made an announcement regarding its proposed budget for the year 2022. Here are the most important points from the announcement:

1. The proposed budget includes a total of 750 million ARB tokens, which will be used to fund various initiatives related to the development and growth of the Arbitrum ecosystem.

2. The Foundation clarified that this budget proposal is not a new decision, but rather a ratification of an existing decision that was made by the community during the launch of Arbitrum in 2020.

3. The Foundation also stated that it will be transparent about how the funds are being used and will provide regular updates to the community.

In summary, the Arbitrum Foundation’s proposed budget for 2022 includes 750 million ARB tokens and is a ratification of an existing decision made by the community. The Foundation has committed to transparency and regular updates on the use of these funds.