Treating the Decentralized Game Ecosystem: Understanding the AIP-1 Proposal and TreatureDAO’s Disapproval

04/03/2023 00:41 • Crypto & Markets • 65 views

According to reports, according to official Twitter, the decentralized game ecosystem, TreatureDAO, as the largest representative of Arbitrum’s ecological governance, has voted against the AIP-1 proposal proposed by the Arbitrum Foundation. In addition, the Treasury DAO requested that Arbitrum resubmit a proposal that would clarify the scope of the special funding plan more clearly and split the AIP-1 proposal.

Arbitrum’s representative for the largest ecological governance, TreasureDAO, opposes the AIP-1 proposal

In the fast-paced world of blockchain and cryptocurrency, technological advancements happen swiftly, with new proposals and projects cropping up every day. One such development is the launch of Arbitrum, an open-source, smart-contracting platform that enables high-speed, low-cost transactions for decentralized applications (dApps). In August 2021, the Arbitrum Foundation proposed an AIP-1 proposal outlining a special funding plan to foster growth and development on the platform. However, TreatureDAO, the largest representative of Arbitrum’s ecological governance, has voted against the proposal, demanding more clarity on the scope of the special funding plan.

What is the AIP-1 Proposal?

The Arbitrum Improvement Proposal 1 (AIP-1) aims to establish a funding mechanism that supports developers and decentralized autonomous organizations (DAOs) working to improve the Arbitrum infrastructure. The plan involves setting up a special treasury that will receive funds from the Arbitrum Foundation, as well as a share of the transaction fees generated on the platform. These funds will be distributed among the DAOs working on the Arbitrum network, with the aim of incentivizing them to develop and improve the platform.

TreatureDAO’s Disapproval

TreatureDAO, a community-driven project focused on creating and supporting decentralized games and applications, has voted against the AIP-1 proposal as per official Twitter reports. In their statement, TreatureDAO expressed their concern over the ambiguity of the special funding plan’s scope and requested more transparency on how these funds will be distributed. They also called for a clearer explanation of how the proposal would affect DAOs and developers working on the arbitrum network.
The most significant controversy around the AIP-1 proposal lies in the ambiguity regarding the criteria for eligibility to receive the special funding. TreatureDAO argued that despite the proposal indicating that treasury DAOs would be eligible, there is no clear definition of what constitutes a treasury DAO, which could potentially exclude smaller DAOs from participating in the funding scheme.

What Happens Now?

The proposal was not accepted by the Treasury DAO and sent back to the Arbitrum Foundation for clarification. Therefore, the AIP-1 proposal continues to be debated, and a revamped version is expected to be proposed soon with more clear guidelines.
As for the Arbitrum platform, despite the delay in implementing the funding plan, its popularity and growth show no sign of slowing down. Arbitrum has positioned itself as a serious contender in the race to create a scalable, efficient, and decentralized platform for building and deploying dApps.

Conclusion

As the blockchain and cryptocurrency industry evolves, so do the challenges and complexities that come with it. The AIP-1 proposal and the subsequent objections raised by TreatureDAO highlight the need for transparency and clarity in funding mechanisms for decentralized autonomous organizations working on blockchain networks. It’s crucial to ensure that smaller DAOs are not left out of funding mechanisms, and the criteria for eligibility are defined to prevent exclusions. With continued dialogue and clarity among blockchain communities and key industry stakeholders, the blockchain industry can evolve in a productive and inclusive way.

FAQs

**Q1. What is Arbitrum?**
Arbitrum is a smart-contracting platform that enables high-speed, low-cost transactions for decentralized applications (dApps).
**Q2. What is a DAO?**
DAO stands for Decentralized Autonomous Organization. It is an organization governed by computer programs or smart contracts running on a blockchain network rather than by traditional leadership.
**Q3. What is the significance of the AIP-1 proposal?**
The AIP-1 proposal aims to establish a funding mechanism that supports developers and decentralized autonomous organizations (DAOs) working to improve the Arbitrum infrastructure.

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