Original - Odaily
Author - Nan Zhi
On October 13, the first round of voting for the Short-term Incentive Plan (STIP) launched by Arbitrum was completed, with 29 projects selected out of the 95 projects that participated in the voting.
This voting will conduct the first screening. After the subsequent second round of voting is completed, Arbitrum will allocate up to 50 million ARB incentive funds to all eligible projects, thereby stimulating ecological activity and attracting more users and liquidity.
(Additional reading: The battle for “50 million ARB” has begun. Who among the 95 projects can stand out?》）
Today, Arbitrum DAO launched a draft vote to provide financial support for the STIP proposal and plans to increase the budget to 71.4 million ARB. The vote will end in 6 days, and the support rate is currently 93.94%.
On the other hand, flipside data shows that some projects have begun to withdraw funds today, and approximately 2.88 million ARBs have been claimed.
Which projects are about to start distributing money and how strong their incentives will be, Odaily will introduce them in categories below.
Short-term incentive plan STIP
GMX——short, flat and fast
On November 7, GMX announced that its proposal under the STIP program was accepted by Arbitrum DAO,A short-term incentive plan of 12 million ARB will be launched, these tokens will be inwithin 12 weeksUsed for liquidity and trading pair incentives.
Development incentives: Up to 2 million ARB can be used to provide grant incentives to other developers and protocols, based on GMX V2, to promote the development of Arbitrum;
Liquidity incentives: rewards for GM liquidity providers, incentives for migrating GLP liquidity to the GM capital pool;
Trading incentives: When trading on GMX, you will receive a rebate on ARB token trading fees;
Grant incentives are divided into three categories: small grants with budgets of up to $10,000; open grants with budgets of up to $100,000; and grants that address specific needs.
Pendle - for governance distribution
On November 7, Pendle announced that starting from November 9,Users can receive additional ARB rewards when using Pendle, specific contents include:
Only the Arbitrum mining pool is eligible to receive ARB rewards, and LPs in each Arbitrum’s liquidity pool will receive additional ARB rewards;
Similar to PENDLE incentives, ARB pool allocation will be determined by vePENDLE voting on a weekly basis;
In addition, Pendle will launch the Arbitrum Season dashboard on November 16 to monitor weekly fee reward caps and claims.
Radiant Capital - Following tradition
On November 7, Radiant Capital announced,Radiant’s STIP incentive proposal approved by Arbitrum DAO, will airdrop up to 2 million ARB to dLP long-term lock-up users.
dLP eligible for the airdrop must be on Arbitrum and BNB Chain after the first snapshot (block 147753665) and before the second snapshot (in the next 30-90 days)Locked for 6-12 months, a maximum of 2 million ARB will be shared based on the TVL reached.
Claims will close by January 31, 2024, and new dLPs such as Magpie and PlutusDAO will be allocated as appropriate.
Kyber Network – Not yet revealed
November 6,Kyber announces successful application for additional ARB grant through Arbitrum’s STIP, Kyber stated that it is “preparing the next steps to deepen liquidity, improve transaction efficiency and strengthen the Arbitrum ecosystem”, but did not further announce a specific incentive plan.
Other incentive programs
Arbitrum announced that it will launch three grant programs, namely:
Arbitrum Citizens Retrofunding Round #1: Mainly aimed at influential community users who have contributed to Arbitrum DAO governance and processes, a total of 100,000 ARB rewards will be distributed, and the plan is officially launched on November 15;
Arbitrum on Gitcoin Matching Fest: 300,000 ARB rewards will be provided, mainly for users who support Arbitrum One through the Gitcoin protocol;
Arbitrum on Allo Hackathon: A total of 100,000 ARBs will be awarded to builders working to create the data structures and tools of the future.
On November 2, multi-chain lending protocol Radiant Capital announced its launch on Ethereum, supported by LayerZero Labs, Stargate, and Balancer.
500,000 ARB will be airdropped to all dLP holders on the mainnet for 6-12 months, the first snapshot of Starfleet season 2 begins at Ethereum block height 18479253. The snapshot window will end in 30-60 days, and to prevent manipulation, the exact duration of the snapshot window will remain private until it ends.
Currently, 1 million dLP has been locked on Ethereum, and 500,000 ARB will be distributed soon. Radiant Capital noted that this event is unrelated to Radiant’s recent qualification for the Arbitrum Foundation’s short-term incentive program, using the remainder of the initial ARB received in March 2023.
Make Arbitrum Great Again
Recently, Arbitrum passed the ARB staking proposal on Snapshot, which will be followed by a 14-day voting on Tally, which is expected to bring 100 million ARB staking rewards to ARB holders, in conjunction with the money-spreading incentives of various projects. It may lead to further growth of its ecology.