Arbitrum DAO plans to withdraw 225 million ARB game incentive plan, questioning poor project management and lack of transparency

This article is machine translated
Show original

According to ChainCatcher, the Arbitrum DAO is considering a proposal to cancel funding for the "Gaming Catalyst Program" (GCP) and reclaim the previously allocated 225 million ARB tokens. The proposal suggests that the plan was approved under "overly optimistic market expectations" and has been proven unsustainable. One of the main supporters, Treasure DAO, has already exited Arbitrum, and other key contributors have shown a decline in enthusiasm or have left. Additionally, the GCP has been criticized for lack of transparency in fund usage, increasing team compensation, and reducing reporting obligations.

The proposal states that the project "has not even established basic operations and transparency". In response, GCP committee member David Bolger noted that Arbitrum has become an important gathering place for game projects, attracting over 25 game-related chains to build on its technology stack, including Ubisoft, Square Enix, and Tap Nation. The GCP was launched in March 2024 to promote the Web3 game ecosystem on Arbitrum, originally planning to use most funds for game project grants over three years. Currently, community governance discussions are ongoing, and no clear consensus has been reached.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Followin logo