Arbitrum proposes to establish a $3.3 million “meme coin fund”! Can it improve blockchain...

Arbitrum DAO raises US$3.3 million in meme coin fund! What is the purpose?
Has the meme coin craze spread to the Arbitrum ecosystem? Recently, a meme currency proposal on the Arbitrum DAO (Decentralized Organization) forum has caused discussion in the community. User 0xkawz proposed the establishment of a $3.3 million fund specifically to support meme coins in the Arbitrum ecosystem, and Through the viral propagation characteristics of meme coins, the liquidity, user participation and overall activity of the blockchain will be improved.

The proposal outlines the governance structure of the Meme Coin Fund, which will include 5 board members and 3 collaborators, and operate through multi-signature (Multi-Signature, multiple sets of different private keys are presented simultaneously for verification to complete the signature). It is worth noting that users and collaborators of the board of directors will be prohibited from investing in tokens supported by the fund to maintain the transparency and impartiality of the fund.

In addition, the proposal also lists the criteria for the fund to review meme currency projects, including safe contracts, wide distribution of holders, whale not occupying an excessive proportion of the token supply, liquidity and market capitalization, etc.

The $3.3 million funding budget also includes monthly salaries for board members, collaborators, and graphic designers. In addition, the proposal also provides an additional $1 million to $2 million to integrate meme coins into Arbitrum DeFi (decentralized). financial) agreement. The purpose of this strategy is to combine the meme coins and the DeFi field in the Arbitrum ecosystem to promote innovation and integration of the entire ecosystem.

What does the Arbitrum community think?
In recent months, the prices of many meme coins on Solana have skyrocketed, including $BONK, $WIF, etc., making the Solana ecosystem quite lively. Base, the second-layer blockchain of cryptocurrency exchange Coinbase, has also recently seen an increase in online activity due to meme coins.

The Avalanche Foundation continues to purchase meme coins on the Avalanche chain through a collection program, and recognizes and encourages the culture symbolized by meme coins. Avalanche even stated that meme coins represent "the common spirit and interests of different crypto communities" and believes that they go beyond mere practical assets.

Now Arbitrum is interested in the potential of meme coins and has proposed a fund, which has also aroused different reactions from the community. Even though most members expressed support and pointed out that the plan could have a significant impact on the ecosystem; some members also expressed opposition. For example , user NicoDeva criticized the meme currency proposal and just wanted to use foundation funds to rescue the failed meme currency. .

However, the mood within the community tends to be optimistic, and the meme coin fund is also seen as a strategy to revitalize the Arbitrum ecosystem.

As Arbitrum DAO considers the proposal, it also reflects the community's willingness to innovate and sets a precedent for how the blockchain ecosystem can use the attraction of meme coins to promote ecological growth and user participation.

Source: CryptoRank , Abitrum Foundation , Ailtra