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 an enormous variety of votes on April 15. The development proposal known as AIP-1.05 was launched after the Arbitrum Basis transferred funds with out neighborhood approval in March.

The proposal was defeated by 118 million votes, representing 84% of the full votes acquired, whereas 21 million ARB tokens voted for the proposal, almost 14.5% of the full. Round 2 million ARB tokens abstained. The proposal requested the inspiration to return the tokens as a “symbolic gesture to display that the governance holders finally management the DAO, not the Arbitrum service supplier nor the Basis.”

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