Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Arbitrum DAO approves $23 million ‘backfund’ for projects that missed out on initial grants
ADOPTION NEWS

Arbitrum DAO approves $23 million ‘backfund’ for projects that missed out on initial grants

By Crypto FlexsDecember 3, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Arbitrum DAO approves  million ‘backfund’ for projects that missed out on initial grants
Share
Facebook Twitter LinkedIn Pinterest Email

Posted 1 minute ago In ~

Arbitrum DAO voted 2:1 to spend $21.1 million. ARB

+
We invested tokens ($23.5 million) in projects that were approved for grants from the Ethereum Layer 2 network’s Short-Term Incentive Program (STIP) but did not receive funding due to the program’s initial 50 million token budget.

In addition to the 29 projects that received the first round of funding,Now 26 projects will receive grants, the largest being gain network GNS

+
4.5 million tokens ($5 million). Other major grants include: Stargate Finance shooting

-0.04%
and synapse sink

+
will receive 2 million tokens ($2.2 million) each and Wormhole will receive 1.8 million tokens ($2 million).

The proposal approval increases STIP’s total program budget to 71.1 million ARB tokens. Additional funds would be distributed following a three-day waiting period under the proposal.

Some projects funded in the first round, including Camelot and MUX, also joined the one-third of voters who rejected proposals for additional funding. Camelot explained the ‘no’ vote in lengthy comments, arguing for a second proposal instead of a backfunding event. MUX’s opinion was more concise, arguing that “proposals with good protocol fundamentals, appropriate incentive implementation strategies, and reasonable grant sizes should be supported, but not in bundles of proposals with mixed quality.”


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Eigenlayer starts the redistribution function in testnets

June 6, 2025

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

ARCA is disappointed with the IPO allocation and dumps the circle sharing.

June 7, 2025

Eigenlayer starts the redistribution function in testnets

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025

Does Ethereum start their business? MorningStar Candlestick Pattern tells the story

June 6, 2025

Solana’s Journey: Promotion of Challenge, Innovation and Speed

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

ARCA is disappointed with the IPO allocation and dumps the circle sharing.

June 7, 2025

Eigenlayer starts the redistribution function in testnets

June 6, 2025
Most Popular

Ethereum open interest has reached an all-time high of $17 billion. Is ETH price trending downward or upward?

December 3, 2024

Bitcoin hits $60K in 11 days: Price surges after Trump assassination attempt

July 14, 2024

OpenAI launches affordable AI tools for universities

June 1, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.