Having reviewed the STIP Analysis (ARDC Research Deliverables) prepared by Blockworks, the Arbitrum Foundation has observed that Furucombo misused 59.5K $ARB of its Backfund STIP grant.
Accordingly, the Arbitrum Foundation is seeking a decision from the ArbitrumDAO on whether to ban Furucombo from the ArbitrumDAO.
On Jul 11, 2024, the Arbitrum Foundation made a public request, for Furucombo to present its case to ArbitrumDAO and return the misused funds, by July 18. This deadline has now passed and Furocombo has not responded on the forum. The Arbitrum Foundation has no choice but to seek a vote from the ArbitrumDAO on the following question: Should Furucombo, including all founders, current team members, and affiliated contributors, be permanently banned from all future ArbitrumDAO programs? This includes (non-exhaustive):
The Arbitrum Foundation, with the support of the STIP & STIP Bridge multi-sig committees and program manager, deems Furucombo to have misused its Backfund STIP grant for the following reasons:
The ArbitrumDAO will have the following voting options to choose from:
This proposal will not require a Tally vote because there are no on-chain actions to be taken. Accordingly, this Snapshot vote aims to get social consensus from the DAO, and will serve as the final decision.
This Snapshot vote will run from today (July 19) till July 26. If the DAO votes to ban Furucombo, then Furucombo will be ineligible to apply for any ArbitrumDAO programs from July 26th onwards.
Regardless of the outcome, there will be no cost to the ArbitrumDAO.
Having reviewed the STIP Analysis (ARDC Research Deliverables) prepared by Blockworks, the Arbitrum Foundation has observed that Furucombo misused 59.5K $ARB of its Backfund STIP grant.
Accordingly, the Arbitrum Foundation is seeking a decision from the ArbitrumDAO on whether to ban Furucombo from the ArbitrumDAO.
On Jul 11, 2024, the Arbitrum Foundation made a public request, for Furucombo to present its case to ArbitrumDAO and return the misused funds, by July 18. This deadline has now passed and Furocombo has not responded on the forum. The Arbitrum Foundation has no choice but to seek a vote from the ArbitrumDAO on the following question: Should Furucombo, including all founders, current team members, and affiliated contributors, be permanently banned from all future ArbitrumDAO programs? This includes (non-exhaustive):
The Arbitrum Foundation, with the support of the STIP & STIP Bridge multi-sig committees and program manager, deems Furucombo to have misused its Backfund STIP grant for the following reasons:
The ArbitrumDAO will have the following voting options to choose from:
This proposal will not require a Tally vote because there are no on-chain actions to be taken. Accordingly, this Snapshot vote aims to get social consensus from the DAO, and will serve as the final decision.
This Snapshot vote will run from today (July 19) till July 26. If the DAO votes to ban Furucombo, then Furucombo will be ineligible to apply for any ArbitrumDAO programs from July 26th onwards.
Regardless of the outcome, there will be no cost to the ArbitrumDAO.
Comments: https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/49?u=ermia
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/48?u=tane
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/47
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/46
https://forum.arbitrum.foundation/t/gfx-labs-delegate-communication-thread/
Comments: https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/49?u=ermia
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/48?u=tane
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/47
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/46
https://forum.arbitrum.foundation/t/gfx-labs-delegate-communication-thread/
unacceptable
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/38?u=maxlomu
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/36?u=ocandocrypto
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/34?u=blockworksresearch
As the STIP PM and part of the team that worked to get the funds returned we abstain to remain impartial and let the DAO decide the outcome
Due to the failure to respond within the deadline and the lack of information about refunds, I decided to vote in favor of a ban.
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/26?u=griff
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/21?u=0x_ultra
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/4?u=ezr3al
So, in the spirit of keeping things fair and square, I support the proposal to give Furucombo the boot. It's time to send them packing,
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/16?u=larva
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/15
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/14?u=bruce
We need to be decisive with these decisions.
Due process needs to be followed and this sets an example to other projects that intend on misusing funds.
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/12?u=jojo
unacceptable
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/38?u=maxlomu
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/36?u=ocandocrypto
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/34?u=blockworksresearch
As the STIP PM and part of the team that worked to get the funds returned we abstain to remain impartial and let the DAO decide the outcome
Due to the failure to respond within the deadline and the lack of information about refunds, I decided to vote in favor of a ban.
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/26?u=griff
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/21?u=0x_ultra
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/4?u=ezr3al
So, in the spirit of keeping things fair and square, I support the proposal to give Furucombo the boot. It's time to send them packing,
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/16?u=larva
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/15
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/14?u=bruce
We need to be decisive with these decisions.
Due process needs to be followed and this sets an example to other projects that intend on misusing funds.
https://forum.arbitrum.foundation/t/potential-misuse-of-funds-furucombo/25496/12?u=jojo