Arbitrum DAO Proposal Sparks Controversy Over 7500 ETH Investment in Lido, Aave, and Fluid

According to a recent report from COINOTAG dated February 24th, the Arbitrum DAO Growth Management Committee (GMC) has put forward a controversial proposal to allocate 7500 ETH to several non-native platforms, namely Lido, Aave, and Fluid. The investment strategy suggests purchasing 5000 ETH worth of wstETH from Lido, subsequently depositing it into Aave V3 to target an attractive annual yield of 4.54%. Additionally, the plan includes dedicating 2500 ETH towards Fluid, forecasting a lower return of approximately 1-2%.

This proposal has ignited significant discussions among community stakeholders, particularly due to the perceived neglect of native Arbitrum projects. Critics within the DAO have urged a reconsideration of fund distribution, advocating for at least 10% to be earmarked for local initiatives within the Arbitrum ecosystem. The outcome of this proposal will be determined during an upcoming vote scheduled for Thursday, shedding light on the community’s priorities.