
Grant capital is not free money. I have very little sympathy for teams that treat it like it is. For context, I'm talking about the @limitlessdefi grant of 75,000 ARB tokens to incentivize liquidity on @arbitrum. I read from Arbitrum’s Watchdog Committee that the project swapped the entire grant to USDC and bridged it to Base instead. The project later appears to have stopped operating. The team was then given until September 10 to explain what happened or return the funds. They did neither. Now Arbitrum is voting to permanently ban the founders from future DAO programs. If an ecosystem gives you capital for a specific mandate and you move the full amount somewhere else, it becomes a governance and accountability failure. So this is definitely the correct response.
