🚀🚀😱$215 million move from Arbitrum: Will it go up?😱🚀🚀
The DAO of Ethereum-based layer-2 network #Arbitrum will fulfill requests to distribute hundreds of thousands of dollars to support gaming projects on the network over the next three years. The proposal would allocate 225 million $ARB dollars over three years, valued at approximately 215 million of its current price, to the Gaming Catalyst Program (GCP), which is designed to drive credit and adoption of Arbitrum/Orbit/Stylus.
Arbitrum made game enthusiasts happy
The proposals, first submitted in March, were formally adopted on Friday with the support of more than 75 percent of the vote. Organizations that significantly supported the proposal included L2Beat, Wintermute, and the gaming-focused Treasure DAO, while Blockworks Research and Camelot DAO were also among the opposing voters.
Treasure DAO has written extensively about X in response to the proposal: “Arbitrum is the home of gaming; this includes all games, game chains, and all builders in its orbit. "Come on, it's a little magical."
The bulk of the funding is allocated to publishers; While new and early-stage developments have the opportunity to apply for grants worth a maximum of ARB 500,000 (approximately $483,000 at current launch), better performers must apply for investments with a value share share. Tokens, equity or similar instruments will be distributed to bonuses and distribution expenses related to the back infrastructure of the funds.
Day-to-day operations will be handled by a dedicated GCP team, but the program will be overseen by a GCP-selected “hosted 5 with deep gaming experience, initiative system, analytics/reporting, and/or DAO management maintenance.” The DAO has a system of vetoing investment decisions and appointments of team members. The GCP team's budget was set at $25 million for slack expenses; DAO needs to be completed for excess expenses.
