UPDATE: arbitrum Foundation began selling $ARB tokens for stablecoins even before its community had 'ratified' the organization's nearly $1 billion budget, which includes 7.5% of all tokens. realDannyNelson reports
According to Peter McCorry, the Arbitrum Foundation – a centralized organization responsible for promoting Arbitrum, a faster and cheaper blockchain for transacting on Ethereum – thought of the omnibus governance package Arbitrum Improvement Proposal as a"ratification" of decisions it had already made, such as receiving 7.5% of all ARB tokens.
“The point of AIP-1 was to inform the community of all of the decisions that were made in advance,” McCorry said, pushing back at perceptions that token holders had a say in the matter. But AIP-1 wasn’t much of a vote at all, according to McCorry’s explanation – at least, not when it came to the budget requests. He said the Arbitrum Foundation has already started spending the tokens it was apparently earmarked to get.
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