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A request from the Arbitrum Foundation for a funding package worth about $45 million at current prices is heading to its first vote this week, drawing pushback from delegates and analysts who say the ask outpaces the revenue the network generates for token holders.
The Foundation, the legal wrapper and main spending arm of Arbitrum, one of the largest Ethereum Layer 2 networks by total value locked, opened a weeklong temperature check vote on May 28 to gauge support for another year of operations. An onchain vote would follow, tentatively set for June 8. The Foundation published the underlying proposal on its governance forum on May 22, and most of the delegate response has landed since.
The proposal seeks $16 million in stablecoins and real-world assets, 1,740 ETH worth about $3.5 million, and 230 million ARB worth roughly $26 million, the Foundation said in the post. The ARB portion alone equals about 2.3% of the token's 10 billion total supply, or close to 3.7% of the roughly 6.3 billion ARB in circulation.
