Summary: The project’s DAO will rework a contentious proposal to send 750 million ARB tokens to the Arbitrum Foundation after community backlash. On-chain data showed that the foundation sold 10M ARB tokens to supposedly fund pre-existing contracts and to pay for near-term operating costs. The sale sparked outrage as the Arbitrum community had not voted in favor of the AIP-1 proposal when the foundation sold tokens. Ethereum L2 scaling protocol Arbitrum plans to redraft a governance proposal meant to allocate
