Arbitram Foundation, the team responsible for the Ethereum-based Arbitram Layer 2 network, has allocated a significant amount of funding to the gaming industry within its ecosystem.
The proposal is for 3 Arbitram tokens (ARB) worth approximately $22 billion, which will be distributed over 2,500 years through the newly created Gaming Catalyst Program (GCP).
The program aims to rapidly increase awareness and usage of #Arbitrum , Orbit and Stylus among game developers and players, fostering growth and engagement in the gaming community.
The proposal, originally submitted on May 3, was approved by more than 6-7% of the May 75 vote. The program allows decentralized autonomous organization Arbitrum (DAO) to submit a request for approval to allocate #ARB 2 billion over 2 years to spur game development on blockchain.
Gamer-focused organizations L2Beat, Wintermute, and Treasure #DAO were among the supporters of the proposal. Blockworks Research and Camelot DAO opposed it.
In a celebratory message on the X website, Treasure DAO supported the proposal, saying, "Arbitron is the home of gaming, let the magic happen here. ""
New early-stage developers can receive grants of up to 500,000ARB (about 4,483,000 at the current price).
On the other hand, more established developers can apply for investments that include value-sharing components such as tokens, shares or similar mechanisms. The remaining funds will be split between infrastructure-related fees and operating expenses to support the growth and development of the ecosystem.
The day-to-day operations of Gcp are handled by a dedicated team. At the same time, strategic oversight and guidance will be provided by a five-person board of directors, including experts in gaming, venture capital, data analytics and DAO management.
This governance structure ensures the efficient allocation of funds to achieve the DAO's goals while encouraging innovation and accountability.
GCP has set a strict financial framework, capping its operating expenditure at £2,500 million.
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