Opinion: Arbitrum misunderstands the definition of ‘proposal’ and ‘DAO’
Arbitrum’s first Arbitrum Improvement Proposal was shot down by the community, but implementation has already begun.
Cryptocurrency news by Protos · Protos
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Show Notes
Arbitrum recently released its ARB token and announced its intention to begin empowering a Decentralized Autonomous Organization (DAO) with authority over the direction of the protocol.
Arbitrum claims that “ARB token holders have the ability to directly propose, vote on and effectuate on-chain AIPs.” However this initial proposal, despite being written in the future tense, was not really a proposal as the company had already begun acting on it.
Despite the community voting against several ‘proposals’ roughly two to one, the proposals themselves were already being implemtented, rendering their votes meaningless.
Listen to the article to find out why Arbitrum is misleading its token holders.
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