Arbitrum Unveils a Massive Gaming Catalyst Program
The Arbitrum Foundation, the team responsible for the Ethereum-based layer 2 network Arbitrum. Has invested significant resources into the development of the gaming industry within its ecosystem. The proposal calls for the distribution of 225 million Arbitrum (ARB) tokens, valued at approximately $215 million. Over three years through the newly established Game Catalyst Program (GCP).
The program aims to rapidly increase awareness and usage of Arbitrum, Orbit, and Stylus among game developers and gamers. Driving growth and engagement in the gaming community. The proposal was initially proposed in March and was approved on June 7 with more than 75% of the vote.
The plan proposes that the decentralized autonomous organization (DAO) Arbitrum approve the deployment of 200 million ARBs over two years to encourage the development of games on its blockchain.
Governance structure
A large portion of the fund is earmarked for issuers, with new and early developers eligible for grants of up to 500,000 ARB (approximately $483,000 at current prices). On the other hand, more established developers can apply for investments that include a value share component. Such as tokens, equity, or similar protocols.
The company will use the remaining funds to allocate infrastructure-related premiums and operating costs, supporting the growth and development of the ecosystem.
A dedicated group will oversee the GCP operating under the direction of a committee that comprises five skilled individuals. Knowledgeable in the fields of gaming, investment in startups, data analysis, and the governance of decentralized autonomous organizations. This committee will ensure that it allocates resources efficiently and aligns them with the objectives of the program.
They also possess the authority to block investment choices and the selection of team members, ensuring responsibility. Moreover, the GCP has imposed a spending limit of $25 million on day-to-day activities. And any spending that exceeds this threshold must get the approval of the DAO.