ChainCatcher reported that according to Unchained, more than four months ago, Arbitrum DAO authorized the allocation of 225 million ARB for the "Game Catalysis Program" (GCP). However, community members raised questions due to the lack of transparency and accountability mechanisms.
Arbitrum community member Joseph Schiarizzi (@CupoJoseph) published a governance proposal to return 220 million ARB in the GCP multi-signature wallet to the Arbitrum DAO treasury.
The proposal states that the GCP Council has not fulfilled its duties and has delayed the multiple oversight and transparency responsibilities it promised in the initial proposal. On-chain data shows that 1.35 million ARBs have been transferred out of the GCP multi-signature wallet, leaving 223.65 million ARBs. If the proposal is passed, GCP will only retain approximately $2 million in funds to continue operations until more funds are proven to be needed.
Schiarizzi said his proposal may not pass, but it aims to introduce some accountability for the $120 million in ARB tokens that back GCP. “I think it will push people to release updates more quickly,” he said.
