Arbitrum on-chain proposal plans to increase the total STIP incentive budget to 71.4 million ARB

Odaily News Tally page shows that Arbitrum launched a community proposal to provide financial support for successful STIP proposals. The proposal outlines a one-time rebate for all approved but unfunded proposals from Arbitrum STIP, increasing the total budget by 21.4 million ARB to 71.4 million ARB, while increasing the total number of participating protocols by 26, for a total of 56 Funding projects. The plan hopes to allocate DAO-owned ARB to incentives while leveraging the allocation system, consensus and delegated due diligence that STIP 1 has already created. The proposal will open on-chain voting on November 19th and close on December 3rd.