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 that airdropped its governance token ARB just last week. But ARB holders would not get a say in who or how Arbitrum Foundation allocates the nearly $1 billion sum, according to the proposal, AIP-1.