Ignas
@DefiIgnas
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Co-founder of @PinkBrains_io DeFi Creator Studio
Joined February 2017
1.9K Following 164.4K Followers
Arbitrum will ban 3 projects from future DAO programs for misusing grants.
- @goodentrylabs sent ~143k ARB to ineligible users, with suspected team self-farming too
- @limitlessdefi sold 75k ARB for USDC and bridged it to... Base!
- @APX_Finance had ~240k ARB flagged across unreturned funds, late distributions and suspected self-farming.
Funny, that APX actually 'merged with Aster DEX', basically leaving to BNB.
Grants are tough businesses: DAOs don't give funds -> builders might go elsewhere.
Give funds -> risk of being extracted.
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