The community of Arbitrum is currently working out the specifics of two multi-million dollar projects, and they may soon start giving out grants.To create grant programs that will finance ecosystem development, two governance proposals ask for around $5 million in ARB tokens from Arbitrum’s over $4 billion treasury.Voting for one of the grant programs has been ongoing among ARB stakeholders since last week; voting for the second program will begin on Monday.
The ability to vote on the projects might give ARB token holders significant grantmaking power, allowing them to decide which programs receive funded and in what amounts.The creator of Plurality Labs, which is proposing one of the ideas, went by the alias DisruptionJoe and described them as independent but not necessarily competing projects.
“In the event that both proposals succeed, the entities involved are eager to collaborate, thereby establishing a precedent of pluralism from the very beginning,” DisruptionJoe said in a comment.
In addition to these active votes, other Arbitrum-based entities, such as the trading DEX Camelot, have pushed for their own multi-million dollar token allocations.That endeavor fell short this week.