Arbitrum DAO votes to approve $215 million gaming ecosystem fund proposed by Arbitrum Foundation | Headlines | News | CoinMarketCap

06/09/2024 02:08
Arbitrum DAO votes to approve $215 million gaming ecosystem fund proposed by Arbitrum Foundation | Headlines | News | CoinMarketCap

Arbitrum Foundation, the organization that supports the Ethereum rollup-based Layer 2 network Arbitrum, will get its wish to distribute hundreds of …

Arbitrum Foundation, the organization that supports the Ethereum rollup-based Layer 2 network Arbitrum, will get its wish to distribute hundreds of millions of dollars to support gaming projects on the network over the next three years. 

The proposal will allocate 225 million ARB tokens worth about $215 million at current prices over three years to a newly-created Gaming Catalyst Program (GCP), which is designed to "...immediately expand awareness and adoption of Arbitrum/Orbit/Stylus by builders and players in the Gaming community," according to the proposal. 

First unveiled in March, the proposal officially passed on Friday with over 75% of votes in support. Organizations that significantly supported the proposal include L2Beat, Wintermute, and gaming-focused Treasure DAO, …

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