#TreasureDAO Votes Against AIP-1 Proposal by Arbitrum Foundation: An Analysis

According to reports, according to official Twitter, the decentralized game ecosystem, TreatureDAO, as the largest representative of Arbitrum’s ecological governance, has voted against the AIP-1 proposal proposed by the Arbitrum Foundation. In addition, the Treasury DAO requested that Arbitrum resubmit a proposal that would clarify the scope of the special funding plan more clearly and split the AIP-1 proposal.

Arbitrum’s representative for the largest ecological governance, TreasureDAO, opposes the AIP-1 proposal

TreasureDAO, which is known as the largest representative of Arbitrum’s ecological governance, has recently voted against the AIP-1 proposal proposed by the Arbitrum Foundation. In addition to that, the Treasury DAO requested that Arbitrum resubmit a proposal that would clarify the scope of the special funding plan more clearly and split the AIP-1 proposal. This decision has created a wave of curiosity in the crypto community, especially for the investors who have invested in the Arbitrum ecosystem. In this article, we’ll take a closer look at TreasureDAO’s decision and its implications for the future of the Arbitrum ecosystem.

Understanding TreasureDAO

Before we delve into the details of their decision, it’s essential to understand TreasureDAO. TreasureDAO is a decentralized game ecosystem built on top of Ethereum that allows players to mine tokens by playing games. The platform is governed by a decentralized autonomous organization (DAO) that works through a voting mechanism. The platform’s governance system enables TreasureDAO token holders to contribute to the decision-making process of the platform.

The AIP-1 Proposal

The AIP-1 proposal proposed by the Arbitrum Foundation was designed to provide funding for the development of the Arbitrum ecosystem. The proposal aimed to raise a total of 883,000 ETH for the development of the ecosystem. It also proposed to allocate a significant portion of the fund to the Arbitrum Foundation and its team members. However, the proposal was quite vague about the scope of the special funding plan, which created confusion among its stakeholders.

TreasureDAO’s Decision

TreasureDAO held its vote on the AIP-1 proposal on 12th October 2021, and it was a resounding “no.” The DAO voted against the proposal and requested that Arbitrum resubmit a proposal that would provide a more detailed plan regarding the scope of the special funding plan. They also asked for a proposal that would split the funds into multiple parts and allocate them to the appropriate projects in the ecosystem. The TreasureDAO’s decision has highlighted the importance of transparency and accountability in the governance of a decentralized platform.

Implications of the Decision

TreasureDAO’s decision has significant implications for the future of the Arbitrum ecosystem. The decision indicates that the stakeholders are vigilant and conscious of their role in the decision-making process. It also shows that the ecosystem’s stakeholders are committed to ensuring the platform’s sustainable growth and development. In the short term, the decision will affect the plans of the Arbitrum Foundation, and they will have to resubmit a proposal with more clarifications. In the long term, the decision will help to build a more transparent and accountable governance system for the ecosystem.

Conclusion

In conclusion, TreasureDAO’s decision to vote against the AIP-1 proposal proposed by the Arbitrum Foundation has significant implications for the ecosystem’s future. It highlights the importance of transparency and accountability in the governance of a decentralized platform. The decision also shows that the ecosystem’s stakeholders are committed to ensuring the platform’s sustainable growth and development. Arbitrum will now be required to create a more detailed funding plan to move forward with the ecosystem’s development.

FAQs

1. What is TreasureDAO, and how does it relate to the Arbitrum ecosystem?
– TreasureDAO is a decentralized game ecosystem built on top of Ethereum that allows players to mine tokens by playing games. It is the largest representative of Arbitrum’s ecological governance system.
2. What was the AIP-1 proposal?
– The AIP-1 proposal proposed by the Arbitrum Foundation was designed to provide funding for the development of the Arbitrum ecosystem. It aimed to raise a total of 883,000 ETH for the development of the ecosystem.
3. Why did TreasureDAO vote against the AIP-1 proposal?
– TreasureDAO voted against the proposal because it was vague about the scope of the special funding plan, which created confusion among its stakeholders. The DAO requested that Arbitrum resubmit a proposal with more clarifications and split the funds into multiple parts to allocate them to the appropriate projects in the ecosystem.