Arbitrum Foundation Faces Backlash and Price Dip Amid Governance Proposal Controversy.

The Arbitrum Foundation has agreed to split its controversial governance package into separate votes after facing backlash from the community. The foundation will also rebrand its "special grants" program to the "Ecosystem Development Fund" and provide a transparency report on its budget. Additionally, the foundation pledged not to sell more tokens in the near future and will subject the 750 million ARB token allotment to a standalone vote. The move was welcomed by some influential voices in the community, including the pseudonymous ChainLinkGod.