{"id":22452,"date":"2024-06-10T18:00:45","date_gmt":"2024-06-10T15:00:45","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22452"},"modified":"2024-06-10T14:16:12","modified_gmt":"2024-06-10T11:16:12","slug":"arbitrum-dao-has-approved-225-million-arb-support","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/arbitrum-dao-has-approved-225-million-arb-support\/","title":{"rendered":"Arbitrum DAO Has Approved 225 Million ARB Support"},"content":{"rendered":"
Arbitrum<\/a> DAO, the governance platform of the Ethereum Layer 2 network Arbitrum, has approved a proposal to allocate 225 million ARB to support gaming projects. This amount is worth approximately $215 million at current prices.<\/div>\n
<\/div>\n
The proposal, submitted by Vela Exchange co-founder Dan Peng, will allocate 225 million ARB tokens worth approximately $215 million over three years for the newly created Game Catalyst Program (GCP), which aims to increase awareness and adoption of Arbitrum, Orbit and Stylus. The proposal was first introduced in March and was formally passed on Friday with over 75% support. Organizations that gave significant support to the proposal included L2Beat, Wintermute and the gaming-focused Treasure DAO, while Blockworks Research and Camelot DAO voted against it.<\/div>\n
<\/div>\n
“Arbitrum is the home of games \u2013 this includes all games, game chains, and all developers in this ecosystem. Let’s do something magical,” Treasure DAO wrote on the X platform after the proposal passed.<\/div>\n
<\/div>\n
The majority of the fund is allocated to publishers. New and early-stage developers can apply for grants worth a maximum of 500,000 ARB (about $483,000 at current prices), while more established developers will have to apply for investments that include a value-sharing component through tokens, shares or similar means. The remaining funds will be allocated to infrastructure-related awards and operational expenses.<\/div>\n
<\/div>\n
\n

Day-to-day operations will be handled by a dedicated GCP team, but the program will be overseen by a 5-person council with gaming, startup experience, analysis\/reporting, and\/or DAO governance skills. This council will have the power to veto investment decisions and team member appointments. The GCP team’s budget ceiling for operational expenses is set at $25 million, and any excess spending will require DAO approval.<\/p>\n

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Arbitrum DAO, the governance platform of the Ethereum Layer 2 network Arbitrum, has approved a proposal to allocate 225 million ARB to support gaming projects. This amount is worth approximately $215 million at current prices. The proposal, submitted by Vela Exchange co-founder Dan Peng, will allocate 225 million ARB tokens worth approximately $215 million over<\/p>\n","protected":false},"author":6,"featured_media":4445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[1245,6756,1011,6755],"class_list":["post-22452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-arb","tag-arb-dao","tag-arbitrum","tag-arbitrum-dao"],"yoast_head":"\nArbitrum DAO Has Approved 225 Million ARB Support - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/arbitrum-dao-has-approved-225-million-arb-support\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arbitrum DAO Has Approved 225 Million ARB Support - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Arbitrum DAO, the governance platform of the Ethereum Layer 2 network Arbitrum, has approved a proposal to allocate 225 million ARB to support gaming projects. 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