Arbitrum Community Slams Proposal Seeking $2M for Educational Purposes

Several members of the Arbitrum community have slammed a proposal from the Bankless DAO requesting a $2 million grant aimed at onboarding new talents into the Arbitrum network and Web3 in general and offering mass education.

What is the Proposal?

On November 24th, Bankless DAO, a decentralized autonomous organization centred on developing the Bankless ecosystem, released via X (formerly Twitter) a thread explaining the details of a proposal. The price tag to facilitate the proposal is 1.82 million ARB tokens, worth nearly $2 million.

The proposal is geared towards fostering collaboration between the DAO and the Arbitrum network for educational purposes. Slated to run for 12 months, the educational program seeks to guide users from simply being informed of the Arbitrum network to becoming experts in the field, regardless of language barriers.

The proposal adds that the focus would be on developers, gamers, and decentralized finance (DeFi) enthusiasts. Through “clear onboarding flows and “how-to” guides,” the training process will be tailored to align with the learners’ abilities. Bankless DAO believes that the proposal will help bring more people into the Web3 ecosystem around the globe.

Part of the learning process, as outlined in Google Docs shared by Bankless DAO, involves two academy courses, hundreds of written content, 22 podcasts, hundreds of marketing campaigns, and more.

Since Bankless DAO’s plan is still a proposal, it has yet to undergo approval before it can be implemented.

Community Members Frown

The proposal was unpleasant to several community members. In tweets, most of those against the proposal revealed their intentions to vote against the DAO’s proposal. One user tagged the DAO’s move as grifting:

“If this grift passes, it’s a clear signal that @arbitrum governance has failed.”

A user even stated that they could get a team to do the job for 10% to 20% of the proposed expenses.

Meanwhile, the Arbitrum network’s native token ARB traded at $1.04 at the time of writing, representing a 13% increase in the past month.