Lido DAO Proposal Faces Opposition from Arbitrum Community
A proposal by Lido DAO to secure a $4 million grant in ARB tokens has been met with significant opposition from the Arbitrum community. The primary concerns raised are the size of the grant and concerns about Lido’s centralization. In September, the Arbitrum Foundation introduced its Short-Term Incentive Program (STIP) to distribute 50 million ARB tokens to encourage projects to launch on the layer-2 solution. Lido Finance, a liquid staking platform, submitted the grant proposal. Voting for the proposal is set to conclude on October 13.
Arbitrum Proposals and Community Response
There are currently 95 active proposals on Arbitrum DAO’s Snapshot page, requesting a total of 100.2 million ARB tokens worth over $80 million. Only a few proposals have requested more than 2 million ARB tokens and are likely to be approved. The community has also voted against proposals from Wormhole, Synapse, Curve Finance, and others. Some community members have pointed out that certain projects have not used their previously received ARB tokens from the Aribtrum airdrop.
Hot Take: Divided Opinions on Lido DAO Grant Proposal
The Lido DAO proposal to secure a $4 million grant in ARB tokens has sparked controversy within the Arbitrum community. While some believe that Lido Finance’s staked Ethereum could bring value to Arbitrum, others express concerns about the grant’s size and potential risks to the Ethereum network’s neutrality. With only two days left for voting, opinions remain divided. This highlights the challenges of reaching consensus within decentralized communities and the importance of considering long-term benefits for the ecosystem as a whole.
Source: Decrypt
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