Arbitrum

<p><em><strong>Hop DAO sells 209,251 Arbitrum tokens to cover operational costs and support research, planning to convert 25% to USD-Coin.</strong></em></p><h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><p>On Monday, Hop DAO held a vote on the blockchain to sell 25% of its Arbitrum holdings, totaling over 200,000 ARB tokens, valued at $2.075. This decision was made to finance the DAO’s operational costs.</p><h3 id="strong-hop-dao-initiates-sale-of-arb-tokens-for-operational-funds-strong"><strong>Hop DAO Initiates Sale of ARB Tokens for Operational Funds</strong></h3><p>An off-chain version of the proposal indicates that Hop DAO plans to sell 209,251 ARB tokens, valued at nearly $440,000, to acquire <a href="https://cryptosheadlines.com/advocates-push-for-hong-kong-government-stablecoin-to-rival-tether-and-usd-coin/" rel="noopener noreferrer nofollow">USD Coin</a> (USDC). These stablecoins will be used to compensate the DAO’s moderators and <a href="https://cryptosheadlines.com/hong-kong-creates-task-team-to-support-web3-development/" rel="noopener noreferrer nofollow">support the development</a> and research efforts of the protocol.</p><p>The timeline for the ARB sell-off remains uncertain, as a Hop DAO representative has yet to respond to inquiries. At the time of writing, ARB is trading at $2.08, experiencing minimal change over the past 24 hours.</p><p>The proposal received substantial support, with approximately 85% of votes (3.02 million) in favor of the measure. Seven delegates <a href="https://cryptosheadlines.com/ftx-gets-court-approval-for-744m-trust-asset-sale/" rel="noopener noreferrer nofollow">approved the sale</a>, while one abstained, according to Tally, a front-end platform for on-chain votes. The vote concluded at 4:38 UTC, as confirmed by blockchain data.</p><p>As a result of the proposal’s execution, ARB <a href="https://cryptosheadlines.com/crypto-trading-firms-9-8m-polygon-token-transfer-to-coinbase-and-binance-causes-matic-price-plunge/" rel="noopener noreferrer nofollow">tokens have been transferred</a> from Hop’s treasury to its community multisig wallet, according to Snapshot. The DAO intends to sell these digital tokens in stages.</p><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.T</em></p>

Hop DAO Plans to Sell $440,000 Worth of ARB Tokens for Operational Funding

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