Arbitrum’s First Governance Proposal Turns Messy, With $1B ARB Tokens at Stake

Those tokens would fund a “special grants” program meant to foster growth on Arbitrum, the Ethereum layer 2 blockchain that airdropped its governance token ARB just last week. But ARB holders would not get a say in to whom or how Arbitrum Foundation allocates the nearly $1 billion sum, according to the proposal, AIP-1.