TechFlow reports that the Arbitrum community has launched Arbitrum Improvement Proposal 1 (AIP-1), proposing to introduce a decentralized autonomous organization structure called ArbitrumDAO, governed by ARB token holders. The Arbitrum Foundation, located in the Cayman Islands, will serve and be managed by the ArbitrumDAO community, aiming to promote the growth and development of the Arbitrum ecosystem. The entity behind the proposal, Lemma, also plans to request a grant of 750 million ARB tokens (worth approximately $1 billion).
Although the proposal has not yet been approved, a multi-signature wallet named "Arbitrum DAO Treasury2" has already been created and has received nearly 700 million ARB tokens. A representative from the Arbitrum Foundation stated that this address serves as the Administrative Budget Wallet.
The proposal is currently open for voting on Snapshot and will conclude on April 3. As of now, the approval rate stands at 87.12%, with 12.2% opposed and 0.69% abstaining.
