Latest considerations have been raised from an Arbitrum DAO member over the $220 million Gaming Catalyst Program (GCP), which was authorised in a majority vote 4 months in the past.
Extra notably, a proposal means that 220 million ARB tokens must be moved from the Gaming Catalyst Program’s multisig pockets again to the Arbitrum DAO treasury.
“This will leave 3,650,000 ARB for the GCP to continue operations until needing to seek a transfer of more funds from governance,” the proposal states.
Certainly, Arbitrum DAO member and initiator of the proposal, Joseph Schiarizzi, argues that there’s “no demonstrable need for more than $120,000,000 of funding to be immediately available and controlled by a 3-of-5 multisig”. He goes on to name it “unconscionable” because of the GCP having failed to satisfy its agreed milestones.
As for what GCP has been as much as, it’s not fully clear, however in its first 4 months, the group has spent 1,699,998 ARB ($935,000). An official collaboration with Japanese gaming-centered blockchain Oasys was just lately unveiled, which is able to see Oasys L2 chains leverage Arbitrum’s tech stack. Aside from that, it appears it’s not been a plain crusing journey for GCP to kickstart its plans.
One of many robust propagators of the $220 million gaming initiative was TreasureDAO’s Karel Vuong. On the time he referred to as the passing of this system “a Herculean, community-led effort to draft, propose, educate, defend, and drive forward”. Three months later he introduced that TreasureDAO was leaving Arbitrum to as a substitute construct its gaming-centered Treasure Chain on ZKSync. As Schiarizzi states, “GCP was passed with the understanding that Karel would be helping to lead it.”
Since then, GCP Working Group-nominated council member Andrew Inexperienced has additionally stepped down.
Including to the record of non-met agreements, Schiarizzi factors out that no quarterly transparency report on the GCP’s work has been revealed, there’s “no RFP live, no Open Grants for game devs, and no published onboarding process for funded projects”.
Arbitrum’s developer Offchain Labs has not formally responded to the proposal, however its director of partnerships and technique A.J. Warner commented on his X channel, saying that the criticism of GCP’s efficiency “makes no sense”. He states that “Obviously there is no transparency report of data on GCP performance. They aren’t performing yet.”
In one other response posted on X, Offchain Labs’ co-founder and CEO Steven Goldfeder has commented that “The Arbitrum DAO gave the green light to the GCP, and the funds are held in escrow at the foundation as it gets set up. It’s super complicated and won’t happen overnight – legal structure, oversight, hiring etc.”
