Arbitrum Proposes Additional 21.4 Million ARB Rewards for STIP Incentive Program

Arbitrum DAO is currently voting on a proposal to deploy an additional 21.4 million ARB tokens for the Short-Term Incentive Program (STIP).

Arbitrum Proposes Additional 21.4 Million ARB Rewards for STIP Incentive Program

If the Temperature Check phase passes, the proposal will be brought to an on-chain vote.

The increase in incentive allocation by 21.4 million ARB tokens would bring the total allocation for this program to 71.4 million USD. Alongside the initial 29 projects, an additional 26 protocols would receive support if the proposal is approved.

This step is explained as a means to increase diversity and reduce the risk of missing out on promising smaller project builders.

Currently, the Temperature Check phase shows 90.3% in favor, 8.3% against, and 1.4% abstaining. This survey phase will conclude on November 14.

Projects expected to benefit from the above proposal include trading platform Gains Network, bridge platforms Synapse and Wormhole. An interesting development is PancakeSwap announcing withdrawal from a 2 million ARB sponsorship due to unwillingness to comply with KYC verification requirements of the program.

Previously, 29 projects received 49.6 million ARB tokens under the STIP program. The GMX trading platform was the largest recipient, followed by DEX Camelot. Notably absent from the sponsorship list in the first round was major player Lido Finance.

GMX recently announced receipt of tokens from the Grant program. The platform will deploy incentive rewards on V2 starting today with trading pools on Arbitrum, Solana, Uniswap, Litecoin, Dogecoin, and XRP.