Arbitrum Gaming Catalyst Hires DAO Relations Partner Amid Funding Clawback Proposal
At the Game Developers Conference, Arbitrum's Gaming Catalyst Program (GCP) leaders discussed their plans to collaborate with 100 gaming projects to enhance Web3 gaming on their platform. The GCP had previously been allocated 200 million ARB tokens, valued at $215 million, but is now facing a proposal from the Arbitrum DAO to retract unused funds due to concerns over transparency and performance.
Key points include:
- ARB has decreased over 76% in value over the past year.
- The proposal cites GCP's lack of documentation and increased contributor compensation as reasons for clawback.
- Some DAO members support the clawback, stating the GCP has not met expectations.
- Supporters argue that funding is necessary to remain competitive in attracting developers.
- Over 50 proposals have been submitted to GCP, but less than 5% have advanced to final stages.
- The GCP has hired Castle Labs to improve communication between itself and the DAO.
Discussions are ongoing regarding the future of the GCP, with mixed sentiments among DAO participants about its viability.