Arbitrum DAO mulls winding down ‘unsustainable’ Web3 gaming fund
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Arbitrum’s ARB token has dropped by 81% since the launch of the ecosystem’s Gaming Catalyst Program.
Members of Arbitrum’s decentralized autonomous organization (DAO) are discussing a potential clawback of funds allocated to build a gaming ecosystem on the network, citing a lack of progress and transparency.
On March 24, DAO member Nathan van der Heyden submitted a proposal calling for the recovery of unused funds allocated to the Arbitrum Gaming Catalyst Program (GCP). The program, launched in 2024, aimed to position Arbitrum as a leading platform for onchain gaming development.
Van der Hayden said that the GCP was approved when projections were “exceptionally optimistic.” He added that this had “proved unsustainable.”
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