Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
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

Crypto Exchange Rollish is expanded to 20 by NY approved.

October 2, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025
Add A Comment

Comments are closed.

Recent Posts

Crypto Market Rebound, L2 Surge and ZEC Shock: Daily Insights

October 16, 2025

ZBCN is tradable!

October 15, 2025

Analysts expect a breakout of $135 as ETF approval buzz grows.

October 15, 2025

Chinese woman pleads guilty ahead of trial in $7 billion British Bitcoin fraud case

October 15, 2025

XMoney Launches $XMN On Sui, Expands Listings Across Global Exchanges

October 15, 2025

ZNB) STRENGTHENS BALANCE SHEET WITH USD 231 MILLION BITCOIN-BACKED INVESTMENT AMID MARKET TURBULENCE

October 15, 2025

XRP price falls 6% as market crash causes whales to flee

October 15, 2025

US government holds $36 billion in Bitcoin after largest confiscation in history

October 15, 2025

Decoding City Protocol’s IP Capital Market

October 14, 2025

Tria Raises $12M To Be The Leading Self-custodial Neobank And Payments Infrastructure For Humans And AI.

October 14, 2025

How to Use Google Gemini to Analyze Crypto Coins Before Investing

October 14, 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

Crypto Market Rebound, L2 Surge and ZEC Shock: Daily Insights

October 16, 2025

ZBCN is tradable!

October 15, 2025

Analysts expect a breakout of $135 as ETF approval buzz grows.

October 15, 2025
Most Popular

Crypto Trader Says New Chainlink Rival Could Make Magic Price Discovery Here’s why:

February 14, 2024

Bitcoin prepares to surge to $77,000

April 27, 2024

$900B DWS Launches Physical Bitcoin ETC in Germany

April 5, 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.