Arbitrum proposal to return 700M ARB fails, whale calls it a "energy play"

A controversial proposal in search of the return of 700 million ARB governance tokens to Arbitrum’s DAO Treasury was rejected by a large variety of votes on April 15. The Enchancment Proposal AIP-1.05 was launched after the Arbitrum Basis transferred funds with out neighborhood approval in March.

The AIP-1.05 was defeated by 118 million votes, representing 84% of the entire votes obtained, whereas 21 million ARB tokens voted for the proposal, practically 14.5% of the entire. Round 2 million ARB tokens abstained. The proposal requested the Basis to return the tokens as a “symbolic gesture to exhibit that the governance holders finally management the DAO, not the Arbitrum service supplier nor the Basis.”

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