Arbitrum’s DAO was pitched as a way to “decentralize” control of the protocol’s development away from Offchain Labs, the company that launched Arbitrum, and bring users and “the community” into the fold. Tokens were airdropped, a reward to early adopters of the system, seemingly with great promise. Unfortunately, the project took some 18 months to build goodwill and a consistent user base, then damaged its credibility in five minutes, according to critics on the project’s Discord.
Source: https://www.coindesk.com/consensus-magazine/2023/04/04/arbitrum-governance-fracas-reopens-the-question-why-daos/?utm_medium=referral&utm_source=rss&utm_campaign=headlines