55% of total ARBs are unlocked directly? The DAO has its own agenda
Arbitrum airdrop coin issue is no doubt the biggest hot spot recently, the secondary market is nothing more than the project valuation and circulation. As the issuance date approaches, the market discussion about the value of ARBs has become more heated. A recent community rumor is that 55% of the total ARB tokens will be unlocked at the same time as the airdrops. The rumor is based on token.unlocks, a Token unlock data aggregator, but is it really that far off? After consulting relevant materials, BlockBeats found that there was an obvious misunderstanding, which was already mentioned in the official documents.
According to a Medium post published by Arbitrum officials on March 16ARBITRUM: THE NEXT PHASE OF DECENTRALIZATIONThe content shows that user and DAO airdrops will be offered within a week (12.75%), and all investor and team tokens (54.47%) will have a 4-year lockup period, with the first unlock occurring within a year and then once a month for the remaining three years.
Text source:Arbitrum the official Medium
According to the literal meaning, the proportion of user airdrop and DAO airdrop of each project in Arbitrum ecology is 12.75%, plus 42.78% allocated to Arbitrum DAO Treasury, a total of 55.53% tokens are not locked in the contract.
Data source:Arbitrum official documents
Arbitrum holds 42.78% ARB can be used to smash disk?
However, the official documentation also describesArbitrum DAO related rulesIn the charter, the Arbitrum DAO governance structure and governance process are described in detail.In accordance with the AIP-1 proposal, the Arbitrum Foundation has transferred 3,527,046,079 ARBs to the DAO Treasury in order to provide the ArbitrumDAO with the ability to govern effectively and facilitate the development of the governance chain. The ArbitrumDAO would have direct on-chain governance authority over the DAO Treasury.
In addition, a separate account (the "Executive Budget Wallet") controlled by the Arbitrum Foundation will be created in order to improve operational and management efficiency.750 million ARBs will be transferred to the Executive budget wallet to provide special grants to reimburse applicable service providers for total setup costs and to pay for ongoing administrative and operating costs for the Arbitrum Foundation. Further funds from the Administrative budget purse are subject to approval by the ArbitrumDAO in accordance with the AIP process.
Source:Arbitrum DAO AIP-1 proposal
Arbitrum DAO's responsibilities
Arbitrum DAO is a decentralized autonomous organization (DAO) built on the Ethereum blockchain. At its core, the Arbitrum DAO is a community-driven governance mechanism that allows ARB Token holders to propose changes and vote on the organization and its governance mechanism.
The Arbitrum DAO governance intelligent contract is implemented on the Arbitrum One summary chain, which is the Ethereum Layer2 expansion solution. These smart contracts include the DAO's governance Token, ARBs. DAO members use ARB tokens to vote on Arbitrum DAO proposals (AIP). The weight of any given voter's vote is proportional to the amount of ARBs it holds (or represents).
Arbitrum DAO has a built-in financial system (Implemented as a smart contract); The DAO's Treasury funds the ongoing development and maintenance of the organization and its technology. Token holders can propose and vote on how to spend money from the Treasury.
That is to say, although more than 42% of the Treasury's ARB token is directly unlocked, but obviously this part is the ecological fund for the development of Arbitrum ecology, it is impossible to smash the disk.
Nor is it the first time Treasury has directly unlocked such an operation, such as a decentralized custody protocol and digital asset management platformToken allocation for Safe (formerly Gnosis Safe)GnosisDAO& SafeDAO Joint Vault 5 percent (50 million pieces) is also unlocked and fully unlocked directly.
DYOR
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