Arbitrum proposal to “swap tokens with eco-blue chip projects” has received more than 70% of negative votes

On October 19, the Snapshot page showed that Arbitrum initiated a proposal for token swaps with a series of blue-chip projects, with 19 blue-chip projects currently identified, and plans to engage in token swaps with 3-7 of them, with a total swap cap of 2 million ARBs, and up to 500,000 ARBs to be swapped for a single project. Additionally, the proposal proposes to incentivize, through the program, those who still hold more than 50% of the tokens from the original ARB airdrop. At the time of publication, the proposal is currently 74% opposed and will close on October 25th.