1inch Trolls Arbitrum Foundation with $900,000 Lamborghini Purchase Proposal Using ARB Tokens
In a surprising turn of events, the Arbitrum Foundation’s plan to sell 50 million ARB tokens has become the subject of drama within the crypto community. The foundation, which oversees the Arbitrum network, did not wait for the consensus vote before starting the coin sale. Despite more than 70% of the votes being cast in disagreement, the sale still went ahead.
This controversy has now spilled over to the 1inch Network platform, a decentralized exchange (DEX), where the foundation’s retaliation plan has been met with fierce resistance. The platform launched a DAO vote on April 1, proposing to spend $900,000 worth of ARB tokens on purchasing a Lamborghini Revuelto for marketing purposes.
The vote has been closely watched by the community, with both sides of the vote – agree and disagree – neck-and-neck until April 3. However, as of today, the “disagree” side has garnered a majority of the votes at 59.5%, leaving the “agree” side with only 40.5%. The vote will continue for the next two days.
The big question now is whether 1inch will go ahead with the Lamborghini purchase before the vote ends or whether the Arbitrum Foundation will have a spicy plan in store for the community after the vote concludes. It remains to be seen how this drama will unfold and what impact it will have on the broader crypto community.
It is worth noting that this kind of drama is not entirely uncommon in the crypto world. Decentralization and community governance are the hallmarks of the blockchain industry, and conflicts over decisions and proposals are inevitable. However, it is also essential for communities to come together and resolve their differences in a constructive manner, so as not to harm the long-term growth and development of the industry.
In conclusion, the ongoing drama surrounding the Arbitrum Foundation and the 1inch Network’s Lamborghini vote is a reminder of the challenges and opportunities that come with decentralized governance. It remains to be seen what the outcome of this particular conflict will be, but it is a testament to the resilience and vibrancy of the crypto community.
Read more:
- Questions Raised Over Control And Security Of 750M ARB Tokens In Arbitrum’s Proposed Budget Wallet
- While Arbitrum Hits $2.16 Billion In TVL, ARB Price May Have Found Its Bottom, What’s Next?
- Arbitrum Provides 40 Million ARB Tokens As Loan To Market Makers