Arbitrums proposal to give Arbitrum DAO the right to use ARB to lend stablecoins was not passed

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Odaily2024/06/18 01:48

By:Odaily

Odaily News The Snapshot governance interface shows that the proposal previously initiated by the Arbitrum community to give Arbitrum DAO the right to use ARB to borrow stablecoins and use stablecoins for grants and investments was not passed, with an 88.38% vote against. The proposal pointed out that Arbitrum has $3.8 billion worth of ARB tokens in its treasury, and long-term diversification is key, but the community now also needs to obtain funds for grants, financial management, mergers and acquisitions, etc. Formulating a stablecoin lending strategy provides Arbitrum DAO with more options and power.

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