Read time: 2 minutesMarch 23, 2023

Mycelium’s plan for $ARB token allocation

Mission alignment with ArbitrumMycelium’s plan for $ARB token allocation

Following the post earlier today, Mycelium is sharing more detail about our intentions for how the Mycelium community will participate in the governance and growth of the Arbitrum ecosystem.

For transparency, once claimed, the $ARB tokens will be visible in the Mycelium Treasury Multi-sig Safe address.

Arbitrum deeply considered what constitutes significant support of the Arbitrum Foundation, and documented the actions that would be rewarded. Anyone that has interacted with Tracer or Mycelium smart contracts, and met the eligibility criteria, would be rewarded directly by Arbitrum for their actions. In addition to the community Airdrop, Arbitrum announced an additional allocation to DAOs to foster the decentralisation of Arbitrum, and its governance as a DAO. Under this criteria, Mycelium is eligible for an Airdrop of 1,158,932 $ARB tokens. Through this Airdrop, Arbitrum has entrusted Mycelium’s community to determine how to participate in the governance and growth of the Arbitrum ecosystem. This does not mean that Mycelium will be then passing on a further distribution of tokens to community members, as many would have already met individual eligibility. Instead, Mycelium seeks to find acute alignment with Arbitrum regarding its decentralisation and future governance.

To encourage participation, Mycelium will take proposals from the Arbitrum DAO, present those options in the Mycelium Discord, and conduct polls on active sentiment. Mycelium will use a range of polling tools to engage the community and get consensus on desired outcomes, before committing to onchain voting. For each sentiment poll, Mycelium will set out criteria to match proposal outcomes, and set a deadline for each. At the time of deadline, Mycelium will capture a screenshot and keep a record for onchain vote integrity. Mycelium will share both the screenshot and onchain vote outcomes of the community in Discord, and keep a public record of the community decisions.

Mycelium looks forward to the growth of protocols and services building on Arbitrum’s Layer 2 and Layer 3 solutions and will play an active builder and advocate role. This approach is consistent with the Arbitrum Community Values, and ensures a technically and socially inclusive framework, that is sustainable, neutral, and open with broader Ethereum alignment.

Arbitrum’s Community Values:

  • Ethereum Aligned: Arbitrum should be fundamentally aligned with the Ethereum ecosystem and a constructive member of the Ethereum community.
  • Sustainable: Decisions about technology, fee economics, and resource allocation should optimize for the long-term health of the ecosystem.
  • Technically Inclusive: Ordinary people with ordinary computers should be able to fully participate in the Arbitrum protocol.
  • Socially Inclusive: The community should be open and welcoming to all people who wish to participate constructively.
  • Neutral and Open: Arbitrum governance should not pick winners or losers, but should foster open innovation, interoperation, user choice, and health competition on Arbitrum chains.
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