The Arbitrum community launched the ArbitrumDAO establishment proposal, proposing to transfer 750 million ARB tokens to the administrative budget wallet

Lemma, a service provider of the Arbitrum Foundation, launched "AIP-1: Arbitrum Improvement Proposal Framework" in Snapshot, proposing to establish the ArbitrumDAO decentralized autonomous organization, which will be managed by ARB holders, and ArbitrumDAO will be able to collectively decide and implement core Protocol technical to non-technical decision changes. ArbitrumDAO will have direct on-chain governance over the DAO treasury in accordance with the AIP process set forth in the ArbitrumDAO Charter. In order to best provide ArbitrumDAO with effective governance and the ability to facilitate the development of the governance chain, 3,527,046,079 ARB tokens have been transferred to the DAO treasury. For operational and administrative efficiency, a separate account (administrative budget wallet) will be created controlled by the Arbitrum Foundation. 750 million ARB tokens will be transferred to the administrative budget wallet to provide special grants, reimburse applicable service providers for total setup costs, and cover the ongoing administrative and operational costs of the Arbitrum Foundation. Further funding of the executive budget wallet requires ArbitrumDAO to approve the AIP under the AIP process. The deadline for voting on this proposal is April 4 at 06:13.