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Arbitrum Foundation to receive $1 billion if proposal passes

Arbitrum Foundation to receive $1 billion if proposal passes

The proposal, named Arbitrum Improvement Proposal 1 (AIP-1), outlines steps to create what it calls The Arbitrum Foundation, a company that would be responsible for growing the Arbitrum ecosystem.

The foundation would be based in the Cayman Islands and would require $3.5 million — set to cover legal fees, as well as administrative and registration expenses.

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