Altcoin News by Thebittimes.Com

advertisement After Mantle Network, an Ethereum Layer 2 solution, combined with BitDAO a month ago, the price of BIT increased. The governance structure and financial capabilities of BitDAO are combined with Mantle Network’s cutting-edge technology through the merger. After passing the BIP-21 DAO governance proposal, members of the BitDAO community cast their votes in favor of the merger. The Merge- BitDAO and Mantle At the organization’s governance forum in February, the Mantle Core group suggested that BitDAO create funding to aid startup Web3 companies. The fund’s recommended investment period is three years, plus an additional extended period of two years. The BitDAO community governs the Mantle network through the ownership of BIT tokens, which are also used to complete transactions, fund Mantle projects, and reward stakers. To develop cutting-edge solutions for cooperative projects and transactions, Bybit works with BitDAO. The testn...

One community member described the salaries as "insanely out of touch," while another Twitter user accused those who established the rates of being "disconnected from reality." The leaders of the decentralized autonomous organization (DAO) governing the ApeCoin ecosystem have been criticized by community members for what they described as “insane” salaries after the sums were published in an organizational chart.  On June 10, the ApeCoin DAO secretary who goes by “Vulkan” published an organizational chart on Twitter, detailing the salaries of the DAO’s leadership. This showed salaries ranging from $7,000 per month to $75,000 per month, sums that shocked some community members and prompted a slew of inquiries from several. creating an org chart: $7k / month managing a forum: $24k / month supervising stuff: $27k / month being “special”: 104k / month watching our bags go down 90%+: priceless there’s some things $APE can’t buy. for everything else, there’s ApeCoin DAO....

On-chain data and technical analysis shows strength in ARB price, even after a weekend filled with rumors and sell-offs. Arbitrum suffered a big blow during the April 1 to April 2 weekend due to a conflict between the ARB token holders and the Arbitrum Foundation on the allocation of $750 million ARB tokens worth around $900 million. Data from on-chain analysis firm Arkham Intelligence shows that the transfer of $50.5 million out of the disputed allocation of 750 million ARB tokens. They shared with Cointelegraph that, “Only 50.5 million of those tokens have been moved. 10 million tokens have been sent to be sold on exchanges, 40 million have been loaned to Wintermute and the remaining 500K remain untouched in a multisig wallet (labeled Gnosis Safe Proxy).” On April 3 morning, the Arbitrum Foundation conceded to the community's opposition and decided to break up the said proposal in question into multiple proposals for allocating the funds for the project's ecosystem growth. ...

The Arbitrum Foundation announced that it was only ratifying an existing decision when it proposed a 750 million ARB tokens budget. A proposal to fund the Arbitrum Foundation with 750 million ARB tokens — nearly $1 billion — raised controversy in the ARB community over the weekend, as the Foundation announced that it was only ratifying a decision that had already been made.  The conflict comes after a few days the layer-2 protocol airdropped its governance token. According to the AIP-1 proposal on Arbitrum's DAO, the 750 million tokens would be used to cover "Special Grants, reimbursing applicable service providers [...] and covering ongoing administrative and operational costs of The Arbitrum Foundation." Among tokens holders, over 70% are against the move at the time of writing. Screenshot: AIP-1: Arbitrum Improvement Proposal Framework. Source: Arbitrum DAO.  After facing backlash from community members, the Foundation said in a forum post on April 2 that AIP-1 wa...