UPDATE: The arbitrum Foundation said it has 'no near-term plans to sell more $ARB tokens.' realDannyNelson reports
The Arbitrum Foundation said late Sunday it will break up a controversial governance package into a series of separate votes, bending to community pressure after holders of its ARB token staged a loud revolt.
The backtracking comes after a day of rage in the Arbitrum community over how the Foundation – a centralized company charged with promoting Arbitrum's claimed decentralized ecosystem – held a"ratification" vote over decisions it had already implemented, including sending nearly $1 billion in tokens to itself.
That was enough to win over some influential voices. The pseudonymous ChainLinkGod, a well-known crypto personality and one of Arbitrum DAO's biggest delegates, told CoinDesk in a Telegram message that foundation was"listening to the community and incorporating our feedback."In the Discord post, Eli_DeFi said that 750 million ARB token allotment will now be subject to a standalone vote.
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