According to Foresight News, the Arbitrum community has issued a proposal to transfer 220 million ARB tokens (about $122 million) from its Gaming Catalyst Program (GCP) to the Arbitrum DAO treasury, leaving 3.65 million ARB for GCP to continue operating (nearly $2 million) until it indicates the need to deploy more funds. The proposal states that GCP has spent about 1.7 million ARB since it was passed on June 10 (more than 4 months ago), but GCP has failed to release progress as planned, failed to create a website, publish RFPs or consider grants, and it is unclear whether permanent council members have been elected. Although GCP has provided some updates in posts on Arbitrum's DAO forum, the cadence of publicly releasing updates does not seem to meet the requirement for the proposal to be updated every two weeks.

 

Previously, Arbitrum’s Game Catalyst Program (GCP) was passed in June this year after being announced in March. It aims to expand the awareness and adoption of Arbitrum/Orbit/Stylus among developers and players in the gaming community. The proposal allocated 225 million ARB tokens to the program over three years, with a total value of US$215 million at the time, but as the ARB price fell, its value has now dropped to approximately US$122 million.