In a recent development, the Arbitrum Short-term Incentive Program’s voting phase ended on October 13th. As a result, Arbitrum DAO is set to invest 50 million ARB, equivalent to 41 million USD, into 29 selected projects. Among them, a significant portion, 44% of the allocated funds, is earmarked for Perpetual DEX exchanges, led by prominent names like GMX, MUX Protocol, Vertex Protocol, and Perennial Finance. On the other hand, DEX exchanges receive 15% of the total funding, featuring notable projects such as Camelot, Kyber Network, Trader Joe, and Balancer.
Despite the complete allocation of ARB in the first round, the program can continue if a proposed budget expansion is approved. There is currently a proposal to provide an additional 10 to 30 million ARB to kickstart round two.
As previously reported by AZC News in late September, Arbitrum DAO decided to invest 50 million ARB (41 million USD) in projects operating within their ecosystem. At that time, a total of 105 different projects applied for sponsorship.
Related: Arbitrum: Unlocking the Potential of Layer 2
Arbitrum offers four distinct programs for contributors to its ecosystem:
1. Beacon
- Distribution: 200,000 ARB per batch
- Requirements: Projects must have operated on Arbitrum for at least 2 months and have an estimated transaction volume of at least 1.5 million USD.
2. Siren
- Distribution: Up to 750,000 ARB
- Requirements: Projects must have operated on Arbitrum for at least 4 months and have a Total Value Locked (TVL) of 4 million USD.
3. Lighthouse
- Distribution: Less than 2 million ARB tokens
- Requirements: Projects must have operated on Arbitrum for at least 6 months and have a TVL of 15 million USD or a trading volume of at least 100 million USD in the last 30 days.
4. Pinnacle Grants
- Largest program
- Distribution: 2 million ARB
- Requirements: Projects must have operated on the network for at least a year and have a TVL of 30 million USD in the Arbitrum network or an accumulated trading volume of 200 million USD in the last 30 days.
These incentives have likely contributed to the growth of Arbitrum’s tokens on that bright day.
In summary, Arbitrum DAO’s commitment to supporting various projects within its ecosystem showcases a dedication to fostering innovation and growth within the crypto space. As they continue to invest in promising ventures, the cryptocurrency community can expect exciting developments in the near future.
