Lido's Controversial $4M Arbitrum Grant Proposal Evenly Divides Community
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Lido DAO's proposal for a $4M ARB grant from Arbitrum is controversial due to the large amount and centralization concerns.
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The proposal needs 71.5M ARB votes to pass but is nearly evenly split with 48.3% in favor and 47.4% against.
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Lido says the grant would incentivize migrating stETH to Arbitrum without more ETH staking.
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Some criticize that the grant should focus on new projects, not just increasing usage of stETH.
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95 proposals totaling over $80M ARB are active, with only a few large ones likely to pass besides Lido's contested proposal.